Edelweiss and CDPQ enters into long-term agreement; stock surges 9 %
DSIJ Intelligence / 03 Oct 2016
In a stock exchange filing, on October 3, Edelweiss informed about them entering into a long-term partnership agreement with CDPQ. Caisse de dépôt et placement du Québec (CDPQ) is one of the largest North American largest fund managers.
In a stock exchange filing, on October 3, Edelweiss informed about them entering into a long-term partnership agreement with CDPQ. Caisse de dépôt et placement du Québec (CDPQ) is one of the largest North American largest fund managers.
The agreement includes target investments by CDPQ of Rs. 5000 crores over four years that will provide Edelweiss Group with capital to invest in stressed assets and private debt opportunities in India.
The partnership creates one of the largest and most diversified credit investing platforms in India.
According to Rashesh Shah, Chairman & CEO of Edelweiss Group, “Recent reforms, like the Bankruptcy Act have the potential to transform the pace of reconstruction and resolution in India’s stressed and distressed market thus creating a much larger opportunity.”
Reacting to this positive piece of news, shares of Edelweiss Capital surged in trade by more than 9 per cent intra-day to Rs 126 on NSE.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.