Edelweiss Hires Nomura for Mutual Fund Unit Stake Sale.

Edelweiss Financial Services Ltd. has enlisted Nomura Holdings Inc. to assist in selling a minority stake in its mutual fund business, aiming for a valuation of $700 million to $800 million. The potential sale has attracted interest from global asset managers, with Edelweiss considering various options and outcomes. The Indian mutual fund industry has seen significant growth, with Edelweiss's business holding around $16.8 billion in assets under management as of October. [Extracted from the article]