Citing sources, ET Now reported that JPMorgan Chase & Co. and Morgan Stanley are likely advising PAG on the proposed sale.
PAG acquired majority holding in Nuvama Wealth in 2021, when the company was called Edelweiss Wealth and its stake in the Mumbai-based financial services company is valued at Rs $1.6 billion, the report said.
In 2021, PAG invested $325 million in Edelweiss Wealth Management. It had then acquired 61.5% from prior investors Kora Management, Sanaka Capital, the report added.
Nuvama Wealth manages Rs 4.3 trillion ($50 billion) of clients’ assets which grew by 24% year-on-year at the end of FY25.
Shares of Nuvama Wealth have risen by 45% over a 1-year period, outperforming Nifty whose returns stand at 5.5% in the same period. The company’s returns in 2025 so far are to the tune of 6% versus 5% by the 50 stock index.The company reported a consolidated net profit of Rs 255 crore in the quarter ended March 31, 2025, which was up 41% from Rs 181 crore reported in the corresponding quarter of the last financial year. The revenue from operations in Q4FY25 stood at Rs 771 crore, growing by 29% YoY while the FY25 revenue jumped to Rs 2,901 crore, recording a 41% YoY increase.The total revenue stood at Rs 1,125 crore in Q4FY25 which was 21% higher from Rs 929 crore reported in the year ago period.
The wealth and asset management saw steady growth, with revenues growing by 20% YoY. The asset services saw a breakout year, with revenues growing by 85% YoY. Meanwhile, the capital markets revenues witnessed a 16% YoY uptick.
Nuvama shares today ended at Rs 7,400 on the NSE, gaining Rs 338 per share or 4.8% over the Monday closing price.
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