Edelweiss eyes 1,500 crore in next series of pre-IPO

Edelweiss eyes Rs.1,500 crore in next series of pre-IPO

The PAG Group backed Edelweiss Wealth Management, is one of the largest private investment firms in Asia. The amount of 2,366 crore, has been pumped into EWM by PAG Group, that include primary and secondary investment.

Edelweiss Wealth Management has introduced the next series of its pre-initial public offering (IPO) Edelweiss Crossover Opportunities Fund to secure 1,500 crore after successfully raising more than 3,700 crore in its first three series, according to a person close to the sources.

Furthermore, the sources reveal, “Of the billions that are invested in India by private equity and venture capital firms, only around 5 percent is domestic capital. Most of the new-age technology companies are all foreign-owned with very little Indian capital. Why shouldn’t Indian investors have access to these companies? There is a strong demand and hence these pre-IPO funds are doing well with HNIs and family offices."

The fundraise is set to secure up to 7,500 crore through the crossover fund series, states the person. With 150-300 crore in each company, it is looking to make investments in 10-15 firms that are IPO bound in about four years or are intending to launch an IPO soon, the report adds.

Edelweiss Wealth Fund reported Net Sales at 106.00 crore in June 2021 up 55.68 percent from 68.09 crore in June 2020 and a quarterly Net Profit at 71.61 crore in June 2021 up 155.43 percent from 129.18 crore in June 2020.

It is backed by PAG Group, one of the largest private investment firms in Asia. The amount of Rs 2,366 crore, pumped into EWM by PAG Group, includes primary and secondary investment.

It further adds, "Pursuant to these transactions, PAG Group and EFSL (Edelweiss Financial Services Ltd) will be the shareholders in EWM, of which PAG will hold a controlling stake.”