Edelweiss clarifies reports on promoter share transaction

Edelweiss Financial Services Limited (EFSL) has addressed misleading media reports published on August 26, 2025, which incorrectly stated that Rashesh Shah, promoter of EFSL, had sold shares in the company. EFSL clarified that Shah has not sold any shares.

The company explained that the transaction in question was a block trade executed by the Edelweiss Employee Welfare Trust (EWT) in compliance with regulations. The shares were acquired by Abakkus Asset Manager Pvt. Ltd., an asset management firm. Edelweiss highlighted that the original articles were published without verifying facts with the company, leading to unverified reporting that could cause investor confusion and reputational damage.

Edelweiss is a diversified financial services company with seven businesses, including alternative asset management, mutual fund, and general insurance. The company employs 6,000 people, serves 1.1 Cr customers, and manages assets worth INR 2,30,000 Cr.