The company is looking to raise Rs 1,500-2,000 crore through the sale and will use the funds to pare debt and establish the market value of the business
India s Edelweiss Financial Services on Monday said it has started the process of selling equity in its alternative asset management unit and plans to raise about 15 billion to 20 billion rupees .
The company is receiving significant interest for the stake sale in Edelweiss Alternative Asset Management (EAAM), and the process is likely to be concluded in four to five months, Edelweiss said in a statement.
India's Edelweiss Financial Services on Monday said it has started the process of selling equity in its alternative asset management unit and plans to raise about 15 billion to 20 billion rupees ($180.69 million-$240.93 million) by a divesting 10%-20% stake.