According to the latest announcement from Edelweiss Financial Services, the company has initiated a significant divestment process involving its material subsidiary Nido Home Finance. The transaction involves selling a 45% stake in Nido for ₹602.30 crore to strategic investors, with the deal structured at ₹193 per share for 3,12,07,500 equity shares. The buyers include CA Sardo Investments (an affiliate of The Carlyle Group) and Salisbury Investments Private Limited (an investment vehicle of Aditya Puri and his family). Upon completion, the buyers will hold approximately 73% of Nido's shareholding on a fully diluted basis, with Nido ceasing to be a subsidiary of Edelweiss Financial Services.
As reported by Edelweiss Financial Services, Nido Home Finance qualifies as a material subsidiary under listing regulations, with its financial performance during FY25 showing ₹520.63 crore turnover and ₹828.20 crore net worth. The disposal requires special resolution approval as it involves ceding control over a material subsidiary. The transaction is subject to requisite approvals, including approval from the Reserve Bank of India, and is being executed by Edelweiss Financial Services and its wholly owned subsidiaries. The buyers have been confirmed as non-related parties with no connection to the company's promoters.
According to the company announcement, the e-voting process for shareholder approval has been scheduled from March 6, 2026 to April 4, 2026, with results declaration on or before April 6, 2026. National Securities Depository Limited (NSDL) has been appointed as the service provider for the e-voting facility. The cut-off date for participation was set as Friday, February 27, 2026, with Mr. Suresh Viswanathan of SVVS & Associates Company Secretaries LLP appointed as the scrutinizer for the postal ballot process.
As reported by Edelweiss Financial Services, this disposal aligns with the company's stated objectives to reduce debt and create value in the business. The transaction represents a strategic move to optimize the company's subsidiary portfolio while generating significant cash proceeds. The timing of this major stake sale comes amid broader market conditions that have affected the company's share price performance, with the stock experiencing some volatility during the transaction period. The company has confirmed that the buyers are neither related parties nor connected to the company's promoters, making this a non-related party transaction.
