:Edelweiss Group

{{Short description|Indian investment and financial services company}}

{{Multiple issues|

}}

{{Infobox company

| name = Edelweiss Group

| logo = Edelweiss Group logo.svg

| image = Picture_of_the_Edelweiss_Capital_buildings_in_Mumbai.jpg

| image_caption = Edelweiss Financial Services building in Mumbai

| type = Public

| location = Mumbai, Maharashtra, India

| founders = Rashesh Shah
Venkat Ramaswamy

| key_people = Rashesh Shah
(Chairman & CEO)

| area_served = Worldwide

| industry = Financial services

| products = {{ubl|Stockbroker| Commodity Broker| Asset Management| Wealth Management| Investment Management| Investment Banking| Private Equity| Mortgage loans| Insurance }}

| revenue = {{Increase}} {{INRConvert|8632|c}}{{Cite web|url=https://www.moneycontrol.com/india/stockpricequote/finance-general/edelweissfinancialservices/EC01|title=Edelweiss Group|year=2023}}

| revenue_year = 2023

| operating_income = {{decrease}} {{INRConvert|2827|c}}

| income_year = 2023

| net_income = {{increase}} {{INRConvert|273|c}}

| net_income_year = 2023

| assets = {{increase}} {{INRConvert|44064|c}}

| assets_year = 2023

| equity = {{increase}} {{INRConvert|6654|c}}

| equity_year = 2023

| aum = {{increase}} {{INRConvert|175000|c}}{{Cite web|url=https://www.edelweissfin.com/wp-content/uploads/2023/09/Investor-Presentation-Q3FY24.pdf|title=Wayback Machine|website=www.edelweissfin.com}} (2023)

| num_employees = 8,820 (2023)

| founded = {{start date and age|df=y|November 1995}}

| ISIN = INE532F01054

| traded_as = {{BSE|532922}}
{{NSE|EDELWEISS}}

| subsid = {{Unbulleted list||Edelweiss Tokio Life Insurance Company Limited|Edelweiss Asset Management Ltd}}

| homepage = {{URL|edelweissfin.com}}

}}

Edelweiss Group (officially known as Edelweiss Financial Services Limited) is an investment and financial services company based in Mumbai.{{cite news|title=How Edelweiss built a business for the long run {{!}} Forbes India|url=http://forbesindia.com/article/boardroom/how-edelweiss-built-a-business-for-the-long-run/39907/1|work=Forbes India}} It was co-founded by Rashesh Shah and Venkat Ramaswamy.

The company deals in various financial services ranging from brokerage services to life insurance and general insurance, private equity and other investment-related services through subsidiaries.{{Cite news|url=https://economictimes.indiatimes.com/magazines/panache/edelweiss-chairman-rashesh-shahs-advice-to-entrepreneurs-give-up-the-startup-energy-to-scale-up/articleshow/61764447.cms|title=Economic Times|date=23 November 2017|website=Economic Times|last1=Menon|first1=Rashmi}} It has a network of sub-brokers and authorised people across India. It is registered with National Stock Exchange of India, Bombay Stock Exchange and Multi Commodity Exchange.

History

Edelweiss was founded in 1995 by Rashesh Shah and Venkat Ramaswamy.{{cite news|last1=Sinha|first1=Shilpy|title=What makes investors trust their money with these 5 financial supermarkets of India | url = https://economictimes.indiatimes.com/news/company/corporate-trends/what-makes-investors-trust-their-money-with-these-5-financial-supermarkets-of-india/articleshow/54321160.cms |website = The Economic Times |access-date=22 January 2018 |date=14 September 2016}} Initially, the company worked on private equity syndication, mergers, acquisitions (M&A) and focused on advisory services.{{cite web|title=Rashesh Shah: Every setback is an opportunity to recalibrate {{!}} Forbes India|url=http://www.forbesindia.com/article/fourth-anniversary-special/rashesh-shah-every-setback-is-an-opportunity-to-recalibrate/35347/1|website=Forbes India}}

Edelweiss worked on mergers & acquisitions, providing advisory and investment banking services.{{Cite web |last= |first= |title=Company Profile for ${Instrument_CompanyName} |url=https://in.reuters.com/finance/stocks/company-profile/EDEL.BO |access-date=2019-03-26 |website=IN |language=en}} Edelweiss also offered equity broking, portfolio management, and wholesale financing services to individuals and corporates.{{Cite web|url=https://www.ndtv.com/business/stock/edelweiss-financial-services-ltd_edelweiss/reports|title=Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTV|website=www.ndtv.com|access-date=2019-03-26}}

= 1996–2004 =

The company became a merchant bank in 2000.{{Cite web|url=http://www.forbesindia.com/printcontent/35347|title=Forbes India Magazine - Print|website=www.forbesindia.com|access-date=2019-03-26}} It was also helped start-ups raise funds via the non-IPO route, Venture Capital (VC) and Private Equity funds (PE). In 2000, the company had capital mark of {{INR}}50 million. It acquired Rooshnil Securities in 2001.{{cite news|last1=Sultana|first1=Nasrin|title=Edelweiss Group acquires Religare's securities business|url=https://www.livemint.com/Companies/z0VexoFcHq9COV4NjPfSQO/Edelweiss-acquires-Religares-securities-business.html|work=Livemint.com|date=20 December 2017}}

= 2004–2012 =

During this period Edelweiss added institutional broking and non-banking financial company (NBFC) activity to its portfolio. In 2007, Edelweiss obtained its Clearing Member License.{{Cite web|url=https://economictimes.indiatimes.com/edelweiss-financial-services-ltd/infocompanyhistory/companyid-19100.cms|title=Edelweiss Financial Services History {{!}} Edelweiss Financial Services Information - The Economic Times|website=economictimes.indiatimes.com|access-date=2019-03-26}} The same year, Edelweiss commenced asset management business with the launch of real estate funds.

In 2007, Edelweiss Global Wealth Management was established{{Cite web|url=https://www.zaubacorp.com/company/EDELWEISS-GLOBAL-WEALTH-MANAGEMENT-LIMITED/U67100TG2007PLC112499|title=EDELWEISS GLOBAL WEALTH MANAGEMENT LIMITED - Company, directors and contact details {{!}} Zauba Corp|website=www.zaubacorp.com|access-date=2019-03-26}} to offer wealth structuring solutions,{{buzzword inline|date=September 2019}} asset protection, asset transfer strategies, risk management and investment banking solutions.{{buzzword inline|date=September 2019}}{{Cite web|url=https://www.ndtv.com/business/stock/edelweiss-financial-services-ltd_edelweiss/reports|title=Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTVProfit.com|website=www.ndtv.com|access-date=2019-03-26}}

In 2008, EdelGive Foundation (the company's charitable wing) was established with education and livelihoods as its primary focus areas.{{Cite web|url=https://educationinnovations.org/funder/edelgive-foundation|title=EdelGive Foundation {{!}} Center for Education Innovations|website=educationinnovations.org|access-date=2019-03-26|archive-date=20 November 2018|archive-url=https://web.archive.org/web/20181120135858/https://educationinnovations.org/funder/edelgive-foundation|url-status=dead}}

In 2010, Edelweiss acquired Anagram Capital, for Rs. 164 crore.{{Cite news|url=https://www.thehindu.com/todays-paper/tp-business/Edelweiss-to-acquire-Anagram-Capital/article15969902.ece|title=Edelweiss to acquire Anagram Capital|date=2010-01-28|work=The Hindu|access-date=2019-03-26|language=en-IN|issn=0971-751X}} In 2011, Edelweiss Tokio Life Insurance was established as a joint venture between Edelweiss and Japanese insurer Tokio Marine. Edelweiss held a 74 per cent stake in the JV.{{Cite news|url=https://www.thehindu.com/business/companies/Edelweiss-inks-joint-venture-agreement-with-Tokio-Marine/article16893709.ece|title=Edelweiss inks joint venture agreement with Tokio Marine|date=2009-11-23|work=The Hindu|access-date=2019-03-26|agency=PTI|language=en-IN|issn=0971-751X}}

= 2012–present =

In 2014, Edelweiss Financial Services acquired Mumbai-based asset management company, Forefront Capital Management.{{Cite news|url=https://www.business-standard.com/article/companies/edelweiss-fin-services-acquires-forefront-capital-management-114050100262_1.html|title=Edelweiss Fin Services acquires Forefront Capital Management|last=Reporter|first=B. S.|date=2014-05-01|work=Business Standard India|access-date=2019-03-26}}

In 2016, Edelweiss Asset Management Company completed the acquisition of fund schemes of JP Morgan Asset Management India.{{Cite news|url=https://economictimes.indiatimes.com/wealth/mutual-funds/edelweiss-asset-management-to-acquire-jp-morgans-mutual-fund/articleshow/51513625.cms|title=Edelweiss Asset Management to acquire JP Morgan's Mutual Fund|date=2016-04-04|work=The Economic Times|access-date=2019-03-26}}

In September 2016, Edelweiss Financial Services Ltd also agreed to acquire Ambit Investment Advisors' longshot hedge fund Ambit Alpha Fund.{{Cite web|url=http://www.forbesindia.com/article/special/edelweiss-financial-acquires-ambit-alpha-fund/44365/1|title=Edelweiss Financial acquires Ambit Alpha Fund|website=Forbes India|language=en|access-date=2019-03-26}}

In 2016, Caisse de dépôt et placement du Québec (CDPQ), a pension fund manager in North America, acquired 20 per cent equity stake in Edelweiss Asset Reconstruction Company (EARC) with a view to investing annually in stressed assets and the specialized corporate credit segment, over a four-year period.{{Cite web|url=https://www.thehindubusinessline.com/money-and-banking/canadas-cdpq-to-pick-up-20-stake-in-edelweiss-arc/article9179451.ece|title=Canada's CDPQ to pick up 20% stake in Edelweiss ARC|website=@businessline|date=3 October 2016 |language=en|access-date=2019-03-26}}

In 2022, Edelweiss General Insurance's Group Health Policy includes LGBTQ+ community.{{cite news |last1=Standard |first1=Business |title=Edelweiss |url=https://www.business-standard.com/article/pf/edelweiss-general-insurance-s-group-health-policy-includes-lgbtq-community-122091000221_1.html}}

In 2024, the Reserve Bank of India suspended Edelweiss Asset Reconstruction Company from acquiring more business, and placed restrictions on the business activities of ECL Finance on concerns of evergreening of loans. Both are subsidiaries of Edelweiss Financial Services Ltd.{{cite news |title=RBI bars Edelweiss ARC from acquiring financial asset with immediate effect |url=https://www.business-standard.com/companies/news/rbi-bars-edelweiss-arc-from-acquiring-financial-asset-with-immediate-effect-124052901380_1.html |publisher=Business Standard}}