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Business

Edelweiss Founders Divest Stake in Nuvama Wealth to Meet Regulatory Requirements

Edelweiss Financial Services Ltd founders Rashesh Shah and Venkatchalam Ramaswamy have sold part of their stake in Nuvama Wealth Management to meet regulatory minimum public shareholding requirements, according to an exchange filing. While the exact amount and price of the shares sold were not specified, Shah held a 4% stake, and Ramaswamy owned 1.79% as of the June quarter. The…