Edelweiss Financial Services stake in Edelweiss Tokio Life Insurance increases to 66%

1 Feb 2022 , 03:45 PM

Edelweiss Financial Services Limited has  allotted 20cr equity shares of Rs10 each in the rights issue of Edelweiss Tokio Life Insurance Company Limited (ETLI), a subsidiary of the Company.

Consequently, the shareholding of the company in ETLI has increased from 51% to 66%.

“ETLI is in the business of providing Life Insurance. During the financial year ended March 31, 2021, March 31, 2020, and March 31, 2019, ETLI had revenue of Rs1,855cr, Rs1,123cr, and Rs1,088cr respectively,” the company said in a filing on Monday.

Edelweiss Financial Services Ltd ended at Rs68.75 per share down by Rs1.15 or 1.65% from its previous closing of Rs69.90 per share on the BSE. The scrip opened at Rs70 and touched a high and low of Rs70.35 and Rs68 respectively.

Ananya Suneja appointed as CFO

The company’s Board has also appointed Ananya Suneja as Chief Financial Officer (CFO) of the Company w. e. f. March 1, 2022 in place of Sarju Simaria who will move to a new role in the Group.

“Suneja is an accomplished professional with over 24 years of experience in Financial Strategy, Risk Management, Cost Efficiency, Finance Transformation, Financial Planning & Reporting across various segments like Banking, Financial Services and Manufacturing. In her previous stints, she has worked with various global firms like Deutsche Bank, GE and JP Morgan Chase. Ms. Suneja is associated with Edelweiss since 2018 and had worked on various important corporate projects,” company said.