RBI Imposes ₹1.55 Lakh Fine On Subsidiary Of Edelweiss Financial

The Reserve Bank Of India imposed a monetary fine on Nido Home Finance Limited A subsidiary of Edelweiss Financial Services Limited, the company announced through an exchange filing.

The fine by the central government was because of a 'change in shareholding due to progressive increase over time, resulting in acquisition of shareholding beyond the permitted limit by the group companies, without obtaining the prior approval of the RBI'.

The order by the central government was received by the company on September 15, 2023.

Edelweiss Financial Services issues NCDs

Edelweiss Financial Services Limited in July announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of ₹1,000 each, amounting to ₹1,500 million (Base Issue Size), with an option to retain over-subscription up to ₹1,500 million aggregating to ₹3,000 million (Tranche III Issue Limit).

Edelweiss Financial Services shares

The shares of Edelweiss Financial Services Limited on Friday closed at Rs 54.80, ending the week up by 0.37 per cent.