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Edelweiss Capital was incorporated on November 21, 1995 as a public limited company. The company received its certificate for commencement of business on January 16, 1996. The company commenced investment banking activities and registered with SEBI as a ‘Category I Merchant Banker’ (as defined under the SEBI (Merchant Bankers) Rules, 1992) and thereafter as a ‘Portfolio Manager’ (as defined under the SEBI (Portfolio Managers) Rules, 1993) and as an ‘underwriter’ under the SEBI (Underwriting) Regulations, 1993. The company entered the business of securities broking in the year 2002 by acquisition of Rooshnil Securities Private, which later changed to Edelweiss Securities and is presently known as Edelweiss Securities.
The year 2004 witnessed the foray of the company into the businesses of insurance advisory as well as commodities broking and trading. The business of insurance advisory is carried through the subsidiary, Edelweiss Insurance Brokers. The subsidiary, ECAL Advisors carries on the business of commodities broking and trading. The company also has its presence in non–banking financial activities through its subsidiaries, Crossborder Investments (acquired in the year 2000) and ECL Finance (incorporated in the year 2005) which are NBFC’s. Edelweiss Real Estate Advisors, which was previously the company’s subsidiary and its subsidiary Edelweiss Trustee Services, were incorporated in the year 2006, for launching the company’s first real estate fund which was registered with the SEBI as a ‘Venture Capital Fund’ (as defined under the SEBI (Venture Capital Funds) Regulations, 1996).
The company raised funds through private equity from Connect Capital Holdings in the year 2000. Greater Pacific Capital (GPC) concluded a strategic investment in the company in October 2005. Apart from fresh Investment in the company, GPC also bought out Connect Capital Holdings’ stake in the company, thereby taking its equity stake to 20%. The company also attracted capital from Galleon Diversified Fund, Heliconia Pte (which is currently a wholly owned subsidiary of GIC (Ventures) Pte held through a wholly owned subsidiary Lathe Investment Pte), BIH SA and Shuaa Capital in 2006. Recently, investment in the company was made by Lehman Brothers Netherlands Horizons BV and Galleon Special Opportunities Master Fund Limited – Galleon Crossover Segregated Portfolio. The company does not have any strategic or financial partners.
The company today is a diversified financial services company in India, providing investment banking, institutional equities, private client broking, asset management and investment advisory services, wealth management, insurance broking and wholesale financing services to corporate, institutional and high net worth individual clients. The company is headquartered in Nariman Point, Mumbai and further operates from another 43 offices in 21 Indian cities.
Since its commencement of business in 1996, the company has grown from a boutique investment bank into a diversified Indian financial services company organized under agency and capital business lines and operate through the company and its ten subsidiaries. Its agency business lines include investment banking, institutional equities, private client broking, asset management and investment advisory services, wealth management and insurance broking; while capital business lines includes wholesale financing services and its internal treasury operations
Agency business lines
Investment Banking – The company provides full range of services and transaction expertise, including private placements of equity, capital raising services in public markets, mezzanine and convertible debt, mergers and acquisition and restructuring advisory services. These services are offered to corporations, entrepreneurs and investors.
Institutional Equities – The company’s subsidiary Edelweiss Securities is engaged in providing equity broking and research services, marketing of equity related products, including IPOs/FCCBs, to domestic and foreign institutional investors. It offers its services to clients who are leading domestic and international institutional investors, including pension funds, hedge funds, mutual funds, insurance companies and banks.
Asset Management – Edelweiss Capital offers a range of investment products and advisory services in area of risk return spectrum to individual and institutional investors.
Wealth Management – It offers a range of services in area of portfolio management services, direct equities, structured products, mutual funds, insurance, real estate funds IPOs and derivatives.
Private client brokerage – This business division provides its products and services to High Networth Individuals and corporate clients.
Insurance Brokerage – Edelweiss Insurance Brokers, a subsidiary of ECL, is engaged in insurance brokering.
Capital business lines
Treasury – The company’s internal treasury operations manage its excess capital funds. The company does it by investing its capital in what it believes to be low–risk strategies, maintaining positions which it can liquidate economically within a few days. The company structures its treasury investments to maintain sufficient liquidity in its portfolio to support the capital needs of its other businesses.
Wholesale Financing – In order to caters liquidity requirements of clients, it offers wide range products and services to individuals and corporates.
Acquisitions made by the Company
- Crossborder Investments Private Limited acquired on March 3, 2000.
- Edelweiss Securities Limited formerly known as Rooshnil Securities Private Limited was acquired on July 9, 2002.
- Edelcap Securities and Transaction Services Private Limited which was earlier Tiffin Investments Private Limited, was acquired on December 10, 2006.
- Edelweiss Insurance Brokers Limited was acquired on July 5, 2000 through subscription of its equity shares.
The company has seven direct and two indirect subsidiaries:
Edelweiss Securities Limited (ESL) – ESL was originally incorporated on August 20, 1993 is presently engaged in the business of an investment company, including financial research, analysis, appraisal of shares, securities, to acquire by purchase or otherwise shares, stocks, debentures, debenture–stock, bonds, obligations or securities of any company or corporation and to deal in the same as brokers, sub–brokers or underwriters or sub–underwriters
Crossborder Investments Private Limited (CIPL) – CIPL was incorporated in Mumbai on October 27, 1994 is presently engaged in the business of an investment company, to invest in, acquire, subscribe for, mortgage or hold shares, bonds, stocks, debentures and all other securities issued or guaranteed by any company, Government or public body constituted in India or elsewhere and to carry on in India or abroad the business of financing such as money lending, bill discounting, factoring, corporate lending to advance money with or without securities and provide financing to industrial enterprises. CIPL was acquired by the company on March 3, 2000.
Edelweiss Commodities and Advisors Limited (ECAL) – ECAL was incorporated in Mumbai on October 5, 2004 is presently engaged in the business of trading in agricultural products, metals including precious metals, precious stones, diamonds, petroleum and energy products and all other commodities and securities; as brokers, sub brokers, market makers, arbitrageurs, investors and/or hedgers in the above mentioned commodities and securities, and to become members and participate in trading, settlement and other activities of commodity exchange/s for itself or for its clients.
ECL Finance Limited (ECL Finance) – ECL Finance was incorporated in Mumbai on July 18, 2005 is presently engaged in the business of financing, money lending, bill discounting, factoring, corporate lending with or without securities; providing finance to industrial enterprises and participating in consortium finance with other institutions or body corporates.
Edelcap Securities and Transaction Services Private Limited (Edelcap STSPL) – Edelcap STSPL was originally incorporated in Mumbai on June 28, 2005 is currently engaged in the business of a loan and investment company and for this purpose it provides finance, whether by making loans or advances or otherwise, and lends or advances money with or without interest, either upon or without security.
Edelweiss Insurance Brokers Limited (EIBL) – EIBL was originally incorporated in Mumbai on February 8, 2000.
Edelweiss Trustee Services Private Limited (ETSPL) – ETSPL was incorporated in Mumbai on August 8, 2005
Edelweiss Capital USA LLC (ECUSA) – ECUSA was organized as a limited liability company in Delaware, United States of America on June 8, 2001.
EC Global Limited, Mauritius (ECGL) – ECGL was originally incorporated in Mauritius as a ‘Category I Global Business Company’ on December 29, 2004
- 2000 – Acquisition of Crossborder Investments Private Limited
- 2001 – F & O license obtained in the year 2001
- 2002 – NBFC registration of Crossborder Investments Private Limited Acquisition of Rooshnil Securities Private Limited
- 2004 – Commencement of Commodity Broking
- 2005 – Commencement of Insurance Broking
- 2006 – NBFC registration of ECL Finance Limited
- 2006 – Managed the first Qualified Institutional Placement under the new regulatory framework in India
- 2006 – Advised the first AIM listing of a listed Indian corporate
- 2007 – Clearing Member License
- Edelweiss Capital informed that: ‘The Board of Directors of Edelweiss Capital Limited, vide a Circular Resolution passed on April 7, 2008 have approved change in the Company Secretary and Compliance Officer of the Company from Smruti Jhaveri to Chetan Gandhi.’
- Edelweiss gets SEBI nod to launch MF
- Edelweiss Capital appointed Berjis Desai as an Additional (Independent) Director on the Board of Directors of the Company with effect from November 18, 2009.
- Edelweiss forms venture with Tokio Marine
2010 – Edelweiss Capital bought Anagram for Rs 164 crore
- Company has changed its name from Edelweiss Capital Ltd. to Edelweiss Financial Services Lt
- Edelweiss Financial Services Ltd. acquires Forefront