Edelweiss Group (officially known as Edelweiss Financial Services Limited) is an

investment Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

and

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

company based in

Mumbai Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12 ...

. It was co-founded by Rashesh Shah and Venkat Ramaswamy. The company deals in various financial services ranging from brokerage services to life insurance and

general insurance General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determine ...

, private equity and other investment-related services through subsidiaries. It has a network of sub-brokers and authorised people across India. It is registered with National Stock Exchange of India,

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange based in Mumbai. It is the 6th largest stock exchange in the world by total market capitalization, exceeding $5 trillion in May 2024. Established with t ...

and

Multi Commodity Exchange Multi Commodity Exchange of India Limited, also known as the Multi Commodity Exchange of India (MCX), is an Indian commodity exchange. It was established in 2003 and is currently based in Mumbai. It is India's largest commodity derivatives ex ...

History

Edelweiss was founded in 1995 by Rashesh Shah and Venkat Ramaswamy. Initially, the company worked on private equity syndication, mergers, acquisitions (M&A) and focused on advisory services. Edelweiss worked on mergers & acquisitions, providing advisory and investment banking services. Edelweiss also offered equity broking, portfolio management, and wholesale financing services to individuals and corporates.

1996–2004

The company became a merchant bank in 2000. It was also helped start-ups raise funds via the non-IPO route, Venture Capital (VC) and

Private Equity funds A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity. ...

(PE). In 2000, the company had capital mark of 50 million. It acquired Rooshnil Securities in 2001.

2004–2012

During this period Edelweiss added institutional broking and non-banking financial company (NBFC) activity to its portfolio. In 2007, Edelweiss obtained its Clearing Member License. The same year, Edelweiss commenced asset management business with the launch of real estate funds. In 2007, Edelweiss Global Wealth Management was established to offer wealth structuring solutions, asset protection, asset transfer strategies, risk management and investment banking solutions. In 2008, EdelGive Foundation (the company's charitable wing) was established with education and livelihoods as its primary focus areas. In mid-2008, with the launch of its wholly owned subsidiary, Edelweiss Alternative Asset Advisors Limited (EAAA), it entered the alternative asset management market. The group developed the platform organically, focusing on private credit, real estate, and infrastructure yield strategies for institutional and high-net-worth investors. In 2010, Edelweiss acquired Anagram Capital, for Rs. 164 crore. In 2011, Edelweiss Tokio Life Insurance was established as a joint venture between Edelweiss and Japanese insurer

Tokio Marine , is a multinational insurance holding company headquartered in Tokyo, Japan. It is the largest property/ casualty insurance group in Japan in terms of revenue and is the parent company for the Tokio Marine Group which employs 39,000 people in 3 ...

. Edelweiss held a 74 per cent stake in the JV.

2012–2022

In 2014, Edelweiss Financial Services acquired Mumbai-based asset management company, Forefront Capital Management. In 2016, Edelweiss Asset Management Company completed the acquisition of fund schemes of JP Morgan Asset Management India. In September 2016, Edelweiss Financial Services Ltd also agreed to acquire Ambit Investment Advisors' longshot hedge fund Ambit Alpha Fund. In 2016,

Caisse de dépôt et placement du Québec The Caisse de dépôt et placement du Québec (, CDPQ; ) is an institutional investor that manages several public and parapublic pension plans and insurance programs in the Canadian province of Quebec. It was established in 1965 by an act of the ...

(CDPQ), a pension fund manager in North America, acquired 20 per cent equity stake in Edelweiss Asset Reconstruction Company (EARC) with a view to investing annually in stressed assets and the specialized corporate credit segment, over a four-year period. In 2022, Edelweiss General Insurance's Group Health Policy includes LGBTQ+ community.

2023–present

In 2023, the group launched its first dedicated Climate Fund, targeting a total corpus of USD 500 million. The fund focuses on climate change mitigation and adaptation investments across sectors such as renewable energy, electric mobility, green infrastructure, water treatment, and industrial decarbonization. With a fund tenure of 10–12 years, it is structured to provide long-term capital to projects aligned with India’s net-zero goals and the United Nations Sustainable Development Goals. In 2024, the Reserve Bank of India suspended Edelweiss Asset Reconstruction Company from acquiring more business, and placed restrictions on the business activities of ECL Finance on concerns of

evergreening Evergreening is any of various legal, business, and technological strategies by which producers (often pharmaceutical companies) extend the lifetime of their patents that are about to expire in order to retain revenues from them. Often the practice ...

of loans. Both are subsidiaries of Edelweiss Financial Services Ltd. In December 2024, Edelweiss Alternatives filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering. The filing was rejected by SEBI in March 2025, citing regulatory concerns. The episode drew media attention due to the nature of the intervention and the company’s prominent position in the alternatives space. In July 2025, Nuvama Wealth Management, a firm spun off from Edelweiss Financial Services, was subjected to an income tax search by Indian authorities in connection with alleged irregularities. While Nuvama operates as an independent entity, Edelweiss Financial Services retains a small residual stake through its financial subsidiaries.

References

External links

* {{official website, https://www.edelweissfin.com/
Zuno Insurance
Financial services companies based in Mumbai Brokerage firms Mutual funds of India Exchange-traded funds Investment management companies of India Indian companies established in 1995 1995 establishments in Maharashtra Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange Asset management companies