You are Here : Moneycontrol Forum Forum Topics Stocks


New Member

8 Messages

During the quarter ended 31 March 2021, EFSL sold its controlling stake in the wealth management business (Edelweiss Securities Limited) to Edelweiss Global Wealth Management Limited, in accordance with the transaction consummated with PAGAC ECSTACY PTE. LTD (PAG), a private investment firms. Since the Company has sold controlling interest over the wealth management business, it has accounted for the sale as loss of control with effect from 26 March 2021 under the requirements of Ind AS 110 - Consolidated Financial Statements . Accordingly, included in other income is an amount of 1,406.35 crores for the quarter and year ended 31 March 2021 towards realized gain representing difference between consideration received and net assets derecognized pertaining to the wealth management business (including related net goodwill) and non controlling interests in other investments that were sold. Further, EFSL s retained interest in the wealth management business meets the definition of an associate and has been recorded at fair value at 26 March 2021 under net fair value changes pursuant to paragraph 25 under Ind AS 110 - Consolidation Financial Statements . Its one time gain of 1,423 crores. If that is excluded its in loss

12.13 AM Jun 12th
We take the quality of the messages posted on forum as seriously as our articles. Kindly follow our Code of Conduct and refrain from posting any abusive, promotional or gibberish content on forum.
Disclaimer : The views expressed in the forum are the views of the user writing the post, and not that of You agree, by accessing this forum, that bears no liability for any posts on this forum or, any losses suffered by following any advice posted on this forum. operates this real time, open, unmoderated, private forum for users to exchange information and to discuss various investing techniques. or, its personnel do not post anything, or vet the content posted, on this forum. reserves the right to deny service to anyone. You, and not, assume the entire cost and risk of any trading you choose to undertake. You are solely responsible for making your own investment decisions. If you choose to engage in such transactions with or without seeking advice from a licensed and qualified financial advisor or entity, then such decision and any consequences flowing therefrom are your sole responsibility.


Get your own permanent - nickname

Choose your nickname

Your permanent Nickname can be distinct from your username and no one need know the link between the two.