Nuvama Wealth Management Share Price

Nuvama Wealth Management Limited was originally incorporated on August 20, 1993 as a private limited company with the name Kayjay Financial Research Services Pvt Ltd. On February 13, 1998, the name of the company was changed to KJS Securities Pvt Ltd. Further, on May 4, 1998, the name changed to Rooshnil Securities Pvt Ltd. Again to Edelweiss Securities Pvt Ltd on May 12, 2004. Then finally, on April 20, 2007, the company was made public limited and the name was changed to Edelweiss Securities Ltd and from Edelweiss Securities Ltd, the name changed to Nuvama Wealth Management Limited on October 10, 2022. The Company is the equities arm of the Edelweiss Group. The company is registered as a trading and clearing member with National Stock Exchange of India Ltd and Bombay Stock Exchange Ltd and is also a member of MCX Stock Exchange Ltd. They provide equity broking and research services, as well as marketing of equity related products, including IPOs/ FCCBs, to domestic and foreign institutional investors. The company During the year 2008-09, the company launched research portal which is providing research report online to its clients. They obtained Trading and clearing Membership of The National Stock Exchange of India Ltd, The Bombay Stock Exchange Ltd and The MCX Stock Exchange Ltd. During the year 2009-10, Arum Investments Pvt Ltd (Arum) became the subsidiary of the company. The Company in addition, provide margin trading facility to the brokerage clients for leveraging their eligible collaterals by funding their requirements on the cash delivery segment of equities. Such funding is subject to exposure against margins that are mandated by the stock exchanges, with the securities forming a part of the collateral for such funding. Besides, it offer distribution services for wide range of financial products including mutual funds, insurance products, fixed income products, mortgages and loans, portfolio management schemes, alternative investment funds, structured products and IPOs to clients. The Company as on March 31, 2022, had a network of 71 branches spread across 57 cities. Given the wide network, there are a large number of trading terminals that provide retail stock-broking facilities. The Company is a wholly owned subsidiary of Nuvama Wealth Management Limited (NWML) (Formerly Edelweiss Securities Limited), as the Promoter. It also caters to a wide clientele comprising leading domestic and international institutional investors, including Pension Funds, Hedge Funds, Mutual Funds, insurance companies, and banks. PAGAC Ecstasy Pte. Limited (PAGAC), the Promoter of NWML has also been categorized as the Promoter of Company. Pacific Alliance Group (PAG), one of the largest Asia focused alternative investment manager, has also acquired controlling stake of NWML in the FY 2020-21.