PAG to buy wealth, i-banking business of Edelweiss for Rs 2,200-2,500 croreThe Indian wealth management space is projected to see a compounded annual growth rate (CAGR) of around 11% over the next five years, providing healthy headroom for businesses to grow. SynopsisThe exercise is part of the revamp that the Edelweiss Group initiated after the IL&FS defaults in 2018 led to a liquidity crunch in shadow banking and sticky loans to companies and the real estate sector ballooned at the 25-year-old financial services company.

Source: Economic Times August 26, 2020 02:15 UTC