Edelweiss Financial Services is set to announce the second round of value unlocking in its arm Edelweiss Global Investment Advisers (EGIA), a media report said quoting sources.
ET Now in its report said Barings, TA Associates, Temasek and KKR are among those that have submitted a term sheet. The report further said these marquee investors may pick 15 per cent stake in the company, valuing it in the range of $1-1.5 billion.
Edelweiss is likely to announce final transactions within a week.
In its first round of stake sale, US-based Sanaka and Kora Capital bought 12 per cent stake in EGIA in the first round of value unlocking in 2020.
A board meeting to consider various matters, including raising of funds via share sale, is scheduled for Saturday.
The company in a recent board meeting approved an increase to the limit to make loans to any entity from Rs 10,000 crore to Rs 20,000 crore.
The shares of the company closed 1.01 per cent higher at Rs 60.15 on BSE.
Source: Economic Times