Edelweiss Financial Services on Friday sold a 6.2 per cent stake in financial services company Nuvama Wealth Management for Rs 1,481 crore through open market transactions.
Edelweiss Financial Services, through its two subsidiaries, ECap Equities and Edel Finance Company, sold shares of Nuvama Wealth through separate block deals on the BSE.
ECap Equities offloaded 17.09 lakh shares of Nuvama Wealth Management while Edel Finance Company sold 5 lakh shares, amounting to a total of 6.24 per cent stake in the company.
The shares were offloaded at an average price of Rs 6,702.6 apiece, taking the aggregate deal value to Rs 1,481.21 crore.
At the end of the June quarter, Edel Finance Company held a 5.18 per cent stake in Nuvama Wealth Management, and Ecap Equities owned an 8.44 per cent holding in Mumbai-based Nuvama Wealth Management, BSE data showed.
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Angel One on Friday settled an alleged front-running case with capital markets regulator Sebi by paying Rs 21.64 lakh towards settlement charges.
The settlement order came after Angel One had filed a settlement application on May 15, 2024, proposing to settle the instant proceeding “without admitting or denying the findings of fact and conclusions of law”.
“It is hereby ordered that the instant proceeding initiated against the Applicant, vide Show Cause Notice dated April 24, 2024, is disposed of,” Sebi said.
Sebi had undertaken an investigation to ascertain whether there was any violation of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) rules by certain entities during the period from January 2021 to October 2022, who were consistently placing orders ahead of the Big Clients, including Bharat Kanaiyalal Sheth Family Trust in the equity (cash) segment of NSE and were squaring off the same.
The investigation revealed that Jitendra Kewalramani, who was the Authorised .

To further enhance the pictorial representation of risk, Sebi on Thursday proposed that the risk-o-meter of a mutual fund scheme be depicted using a colour scheme, a move aimed at further aiding in informed decision making by investors.
To standardise the format of disclosure and for ease of understanding of the change in level of risk for unitholders, the mutual funds should disclose the existing risk-o-meter, along with the revised risk-o-meter, Sebi suggested in its consultation paper.
Any change in risk-o-meter of the scheme or its benchmark should be communicated by way of notice and by way of an e-mail or SMS to unitholders of that particular scheme.
In addition to the existing labels relating to levels of risk — low, low to moderate, moderate, moderately high, high and very high, the risk-o-meter should also be depicted using a colour scheme.
Risk-o-meter needs to have six levels of risk for mutual funds — green for low risk Irish; chartreuse for low to moderate risk; neon