Edelweiss Financial rises 3 pc as CCI clears Edelweiss-Kora deal

Shares of Edelweiss Financial Services on Thursday were trading over 3 percent higher following the Competition Commission's approval for the US-based Kora's proposed investment worth USD 75 million (about Rs 532 crore) in Edelweiss Group. On the BSE, shares were up 2.95 percent at Rs 85.40.

The stock gained 3.01 percent to trade at Rs 85.50 on the NSE. As per the share subscription agreement, Kora is to invest in Edelweiss Securities Ltd (ESL) and Edelweiss Global Investment Advisory (EGIA) business subsidiaries.

The deal was announced in August.