Financial services firm Edelweiss to list seven companies in India, pare debt Edelweiss is planning to list seven businesses on Indias stock exchanges, eliminate all debt and start a new business venture, founder and chairman Rashesh Shah told the Mint. The plan will unbundle multiple entities and remove crossholdings, even as financial conglomerate remains under regulatory scrutiny over various violations highlighted in May. Why its important- The Reserve Bank has imposed restrictions on two Edelweiss group entities, including its asset reconstruction company, due to evergreening, circumventing rules and lack of corrective action. The group is now moving away from a holding company structure to an investment company.
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