Nuvama Wealth

Nuvama Wealth and Investment Ltd.
Company typePublic
IndustryFinance
Founded2008
Headquarters
Mumbai
,
India
Number of locations
90
ParentNuvama Group
Websitehttps://www.nuvamawealth.com//

Nuvama Wealth and Investment Limited formerly known as Edelweiss Broking Limited[1][2] is an Indian financial services company based in Mumbai, India.[3][4] The company is a subsidiary of Nuvama Wealth Management Limited (NWML) formerly known as Edelweiss Securities limited and is led by Rahul Jain who is its president.[5][6] The company is registered with National Stock Exchange of India, Bombay Stock Exchange and MCX Stock Exchange.[7]

History

Edelweiss Broking limited was publicly incorporated on 7 February 2008 after Edelweiss Group[8] had received final regulatory approval from the Securities and Exchange Board of India (SEBI) to start its mutual fund business by 2008. The stockbroker acquired retail broker Anagram Capital Limited in January 2010.[9] In December 2012 the company was listed under National stock Exchange.[10] It was listed in MCX Stock Exchange Limited.[11]

Controversies

In July 2025, the Income Tax Department carried out search and survey operations at the Mumbai offices of Nuvama Wealth (formerly Edelweiss Broking).[12] The action was part of a wider investigation into alleged expiry-day derivatives manipulation by global trading firm Jane Street Capital. In India, Nuvama served as Jane Street’s local brokerage and clearing partner.[13]

The search focused on reviewing documents and communications related to Jane Street’s trades between January 2023 and March 2025. Earlier, the Securities and Exchange Board of India (SEBI) had alleged that Jane Street earned roughly ₹36,500 crore through questionable trading strategies, with ₹4,840 crore of that amount frozen as potentially unlawful gains.[14]

Nuvama said that it was cooperating fully with the authorities, and no allegations of wrongdoing had been made against it at the time of the searches.[15]

References

  1. ^ "Edelweiss Broking Ltd: Company Profile". Bloomberg. Retrieved 23 January 2017.
  2. ^ "Edelweiss Broking Limited: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 23 January 2017.
  3. ^ Thakur, Jai (21 December 2002). "Edelweiss ब्रोकिंग का नाम अब से होगा Nuvama वेल्थ, और क्या-क्या हुआ बदला? जानिए". Hindi News 18. Retrieved 16 May 2023.
  4. ^ "NUVAMA WEALTH AND INVESTMENT LIMITED". indialei.in. India LEI. Retrieved 16 May 2023.
  5. ^ Srivats, KR (30 December 2022). "Confident of achieving ₹1-lakh crore in personal wealth AUM in 4 years, says Rahul Jain, President &Head, Personal Wealth". Hindu Business Line. Retrieved 16 May 2023.
  6. ^ Jain, Rahul. "Rahul Jain, President and Head Nuvama W". Linkedin. Retrieved 16 May 2023.
  7. ^ "Ministry Of Corporate Affairs - MCA Services". www.mca.gov.in. Retrieved 23 January 2017.
  8. ^ "Forbes India Magazine - How Edelweiss built a business for the long run". Forbes India. Retrieved 24 January 2017.
  9. ^ "Edelweiss Capital buys Anagram for Rs164 cr - Livemint". www.livemint.com. Retrieved 24 January 2017.
  10. ^ "Bizcircle.net | A company search service from The VCCircle Network". www.vccircle.com. Retrieved 24 January 2017.
  11. ^ "Securities and Exchange Board of India - Intermediary Index". www.sebi.gov.in. Archived from the original on 4 January 2017. Retrieved 23 January 2017.
  12. ^ "CNBC TV18 newsbreak confirmed | Income Tax department conducts survey at Nuvama's Mumbai office - CNBC TV18". CNBCTV18. 31 July 2025. Retrieved 5 August 2025.
  13. ^ T, Ashokamithran (31 July 2025). "IT Dept surveys Nuvama Wealth Management over links with Jane Street". The Hindu. ISSN 0971-751X. Retrieved 5 August 2025.
  14. ^ "I-T conducts search ops at Jane Street, Nuvama's Mumbai offices". The Financial Express. 31 July 2025. Retrieved 5 August 2025.
  15. ^ Kumar, Shivendra (31 July 2025). "Nuvama shares fall 4% on reports of income tax search in connection to Jane Street case". The Economic Times. Retrieved 31 July 2025.


This article is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.