Edelweiss Financial Services

in my opinion, asset mgmt and wealth mgmt. are two different space.
you are valuing the asset mgmt. space of HDFC and Nippon with PAG’s stake in Edelweiss Wealth mgmt. You should probably compare this with something that does pure play wealth mgmt for apple’s to apple’s comparison. PS: I have not looked in to IIFL in detail, so please excuse me, but IIFL might be nearer comparision, but do note that IIFL does have an AMC with in it…
Would recommend a great presentation by Kedar @zygo23554 on this. You can read it here - VP Chintan Baithak Goa 2019 - Sector: Asset Management & Wealth Management

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