Personal fairness agency PAG is assessing whether or not to restart a sale course of for its controlling holding in Nuvama Wealth Administration, previously known as Edelweiss Wealth Administration, reported Moneycontrol citing sources.
Current shareholding disclosures present PAG owns 54.13% of Nuvama Wealth Administration by Asia Pragati Strategic Funding Fund and Pagac Ecstasy.
Final 12 months, Bloomberg additionally reported that PAG is weighing choices together with a sale of its $1.2bn (Rs104.5bn) majority stake in Nuvama.
“PAG has been invested for greater than 5 years and following an try final 12 months which did not fructify into an eventual sale as a result of a valuation mismatch with PE suitors and different elements, it’s now weighing an exit once more. The market sentiment is healthier now, and it will likely be attention-grabbing to see how the valuations pan out this time,” one of many folks mentioned.
PAG invested about $325m to accumulate management of Nuvama in March 2021.
“Nuvama is a excessive development asset with earnings of over Rs 1,000 crore. Gentle approaches are understood to have been made by potential suitors although these deliberations are preliminary in nature. No remaining choice has been taken but on the deal launch by PAG,” a second particular person mentioned.
A 3rd particular person mentioned, “Primarily based on early suggestions from possible bidders, which can embody PE companies in addition to strategics, if PAG decides to proceed, then one can count on the formal sale course of to kickstart in finish July or early August. There are few massive offers like this out there so the transaction could garner vital curiosity.”
“If required, PAG has different choices as nicely, together with exploring an exit in tranches through a number of block offers,” a fourth particular person mentioned.
The 4 folks spoke to Moneycontrol on situation of anonymity.
As of This fall FY26, Nuvama managed Rs 4.5tn ($47.8bn) in consumer belongings and served shoppers together with greater than 13 lakh HNIs and over 4,750 households in India.
The corporate supplies wealth administration companies together with funding advisory, property planning, funding administration, lending and broking for people, establishments, CXOs, skilled traders and household places of work.
It is usually energetic in various asset administration merchandise, asset companies and capital markets.
“PAG weighs restart on Nuvama Wealth stake sale – report ” was initially created and revealed by Personal Banker Worldwide, a GlobalData owned model.
