Edelweiss concludes sale of 45% stake in Nido Home Finance

Edelweiss Financial Services announced the completion of sale of 45% stake in Nido Home Finance (Nido), a subsidiary of the company, by the company, Edelweiss Rural & Corporate Services (ERCSL) and Edel Finance Company (EFCL) (sellers), to CA Sardo Investments (an affiliate of The Carlyle Group) and Salisbury Investments (an investment vehicle of Aditya Puri and his family) (buyers).

The total investment by the buyers in Nido is over Rs 2,000 crore through a combination of primary capital infusion and secondary purchase.

The company, ERCSL and EFCL have completed the transfer of 45% of the paid-up equity share capital of Nido to the buyers for an aggregate consideration of Rs 580.67 crore.

Nido has also issued 2,59,06,736 equity shares and 5,18,13,472 warrants, to the buyers, for an aggregate amount of Rs 1446.13 crore.

Pursuant to the sale and allotment of equity shares and warrants by Nido, the buyers now hold 58.26% shareholding of Nido which would be increased to 72.70% within 18 months, on a fully diluted basis post conversion of the warrants.

Consequent to the above, Nido has ceased to be a subsidiary of the company and the sellers now hold 38.91% in Nido and would hold 25.46% on a fully diluted basis post conversion of the warrants