New Delhi, Aug. 23 -- Edelweiss Financial Services Limited (EFSL) announced on Friday, August 22, that WestBridge Capital is acquiring a 15 per cent stake in the company for Rs.450 crores, according to company statement. This transaction will value the asset management company at around Rs.3,000 crore.

"The deal is beneficial for all stakeholders and comes at an opportune time for Edelweiss Mutual Fund (MF), as it now shifts into the next phase of growth," the statement read. Edelweiss Asset Management is the asset manager of Edelweiss Mutual Fund.

The CEO of Edelweiss, Radhika Gupta took to X (formerly twitter) to announce the development, stating "I am delighted to share that Westbridge Capital is acquiring a 15% stake in Edelweiss MF...