Edelweiss Financial Services said Nuvama Wealth Management is now an independent business with a focused strategy and the flexibility to attract business-specific partners and investors.
Edelweiss Financial Services: Nuvama will allot 1,05,28,746 equity shares of the face value of Rs. 10 each to the shareholders of Edelweiss Financial Services on proportionate basis as a consideration for demerger.
Under the demerger plan, NWML will allot 1,05,28,746 equity shares having a face value of ₹10 each to the shareholders of Edelweiss Financial on a proportionate basis as consideration for demerger.