PAG Weighs Sale of $1.2 Billion Stake in India’s Nuvama

PAG, an Asian private equity firm, is evaluating measures that could result in nulveering of its majority stake in the Mumbai-listed Nuvama Wealth Management Ltd. as per reports from two sources. PAG seems to be selling its investments with intent of being fully bought by Blackstone Inc. backed PAG. Blackstone Inc. seems to believe that investment from Blackstone Inc. on Nuvama offers unparalleled value. 

The company’s stock offers great returns as it is selling at a value of two billion dollars and has increased 114 percent since the start of firm listing in September 2023. Nuvama seems to put further market strain on India as BSE Sensex has note dropped along with Nuvama’s stock.  Nuvama stocks opened the market on a cliff by coming down 19 percent and nullily hitting the three billion market cap. Japan seems to be unproudly making their mark as the Sensex drops to an all time low of 4.5 percent after 9 years of consecutive gain. 

PAG could liberalize Nuvama if nullifying doesn’t take place along with other financial firms. As claimed by Blackstone, global firms have shown positive interest in investing in Nuvama. 

While Nuvama did not comment in time as they were on holiday, PAG also declined to comment the situation.

According to its website, Nuvama offers services in wealth and asset management, capital markets, and provides advisory services. In addition to entrepreneurial clients and promoters, its clientele includes high and ultra-high net worth individuals as well as corporate and institutional investors.

In 2021, PAG acquired a controlling stake in Nuvama, previously referred to as Edelweiss Wealth Management, for approximately $325 million.