Type Public company Key people Rashesh Shah Website edelweissfin.com Founded 1995 | Area served Worldwide Products Credit, Life Insurance Headquarters Mumbai | |
 | ||
Industry Banking, Financial services Stock price EDELWEISS (NSE) ₹ 136.40 +2.45 (+1.83%)10 Mar, 3:30 PM IST - Disclaimer Subsidiaries Edelweiss Tokio Life Insurance Profiles | ||
The Edelweiss Group is a diversified financial services with headquarters in Mumbai, India. . It is not backed up by any major conglomerate.
Contents
The firm has five major businesses: capital markets, credit, asset management, life insurance, and commodities. Its main focus is on credit. specifically mortgages for housing and loans for agriculture. The firm has 248 offices in 128 cities, including 8 offices outside ofIndia. The firm has a client base of 630,000 and employee strength of 6,227. It also has a strong network of more than 4,700 sub-brokers and authorised persons.
The parent company of the group is Edelweiss Financial ServicesLimited, founded by Rashesh Shah, who is also the Chief Executive Officer (CEO) and Chairman.. Along with wife, Vidya Shah, he holds 27% stake in the Group while co-founder Venkat Ramaswamy holds 10% stake.
History
Edelweiss was founded in November 1995 by Rashesh Shah and Venkat Ramaswamy. Its operations started from February 1996. It was a small office with 3 employees located near Akbarally’s in the Fountain area of Mumbai. Initially, the company worked on private equity syndication and mergers and acquisitions (M&A) and focused on advisory services. Rediff.com was among its initial clients. In 2000, the company gained the capital mark of INR 5 crores and thus became a Category-1 merchant bank. In the following year, the company became a capital markets firm, apart from being a pure advisory investment bank. At that time, the company had 10 employees. The number grew to 40 in 2001; 60 in 2003 and 1,800 in 2008. In 2004, the company entered into activities like insurance advisory and commodities broking and trading. In 2006, Edelweiss Commodity Services Limited was launched. It distributes and assists in the financing of agriculture commodities and expensive metals. It earns a 14% return annually. In 2007, Edelweiss became a listed company and ran its successful Initial Public Offering (IPO).
Subsidiaries
The parent company, Edelweiss Financial Services Limited, has a number of subsidiaries. These are listed below: