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Edelweiss prepares to list its alternatives arm

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Edelweiss prepares to list its alternatives arm

- Edelweiss Financial Services Limited is preparing to list its subsidiary Edelweiss Alternative Asset Advisors Limited (EAAA) in the first IPO in the Indian private capital segment. - The IPO is likely to be predominantly an offer for sale and is aimed at reducing the parent company's debt. - Axis Capital is advising on the issue and the company is expected to file its draft papers in a few months. - EAAA manages private investment vehicles across various sectors and had assets worth ₹56,342 crore at the end of June 2024. - The move to list EAAA follows a previous announcement by Edelweiss about selling a stake in its alternatives arm to retire debt at the parent level. - Edelweiss Financial Services' net debt decreased by 17% to ₹12,700 crore at the end of Q1FY25.

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