Peter120 at 17:00, 13 February 2026

2026-02-13T17:00:29Z

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{{short description|Indian wealth management firm}}
{{Infobox company
| name = Nuvama Group<ref>{{cite news |last1=Chatterjee |first1=Paramita |title=India: PAG-backed Nuvama Group in talks to raise $479m for crossover fund |url=https://www.dealstreetasia.com/stories/nuvama-crossover-fund-390510 |date=4 April 2024 |access-date=6 October 2025 |work=[[DealStreetAsia]] |language=en}}</ref>
| logo = File:Nuvama Group.svg
| logo_size =
| type = [[Public company|Public]]
| traded_as = {{NSE|NUVAMA}} {{BSE|543988}}
| foundation = 1993
| ISIN = {{ISIN|sl=n|pl=y|INE531F01015}}
| location = [[Mumbai]], [[Maharashtra]], India
| num_locations = 100+ offices<ref name="IP"/>
| area_served = {{hlist|India|Hong Kong|Singapore|UAE|United Kingdom|United States<ref>{{Cite web |last1=Singh |first1=Preeti |title=Nuvama Targets Indian Wealth in Dubai, Singapore |url=https://www.bloomberg.com/news/articles/2024-08-06/pag-backed-nuvama-targets-indian-wealth-in-dubai-singapore |website=[[Bloomberg News|Bloomberg]] |date=6 August 2024|access-date=4 November 2025|language=en}}</ref><ref>{{cite web |title=India Wealth Managers: Tapping the uber-rich; Initiate coverage |url=https://www.scribd.com/document/898584243/Bernstein-Wealth-Managers-July-2025 |publisher=[[AllianceBernstein|Bernstein]] |access-date=4 November 2025}}</ref>}}
| key_people = Ashish Kehair (MD & CEO)<ref>{{cite news |last1=Oberoi |first1=Rahul |title=Wealth management in India will quadruple in the coming decade: Nuvama Group MD & CEO Ashish Kehair |url=https://www.businesstoday.in/latest/economy/story/wealth-management-in-india-will-quadruple-in-the-coming-decade-nuvama-group-md-ceo-ashish-kehair-399749-2023-09-26 |access-date=6 October 2025 |work=[[Business Today (India)|Business Today]] |date=26 September 2023 |language=en}}</ref>
| industry = [[Investment management]]
| services = [[Wealth management]] [[Asset management]] [[Asset|Asset services]] [[Capital market]]s<ref>{{cite news |last1=Bhalla |first1=Aakriti |title=The Jane Street bug in Nuvama’s money machine |url=https://the-ken.com/story/the-jane-street-bug-in-nuvamas-money-machine/ |access-date=4 November 2025 |work=[[The Ken]] |date=3 September 2025}}</ref>
| revenue = {{increase}} {{INRconvert|2901|c|lk=on}} (FY2025)<ref name="Annual"/>
| profit = {{increase}} {{INRconvert|986|c}} (FY2025)<ref name="Annual">{{cite web |title=Nuvama Annual Report FY 24-25 |url=https://www.nuvama.com/wp-content/uploads/2025/08/Nuvama-Annual-Report-FY-24-25-1.pdf |publisher=Nuvama |access-date=6 October 2025}}</ref>
| aum = {{increase}} {{INRconvert|4.6|t}} (June 2025)<ref name="IP"/>
| num_employees = 3,400 (June 2025)<ref name="IP"/>
| owner = [[PAG (investment firm)|PAG]] (54.74%)<ref>{{cite web |first1=Baiju|last1=Kalesh|first2=Manuel|last2=Baigorri|title=PAG Is Said To Mull Sale Of $1.2 Billion Stake In India's Nuvama |url=https://www.bloomberg.com/news/articles/2025-02-26/pag-is-said-to-mull-sale-of-1-2-billion-stake-in-india-s-nuvama |website=[[Bloomberg News|Bloomberg]] |access-date=4 November 2025|date=25 February 2025}}</ref>
| rating = AA– ([[CRISIL]])<ref name="crisil">{{cite web |title=Nuvama Wealth Management Limited Rating outlook revised to 'Positive'; Ratings Reaffirmed |url=https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/NuvamaWealthManagementLimited_May%2026_%202025_RR_369265.html |publisher=[[CRISIL]] |access-date=6 October 2025}}</ref> A1+ ([[ICRA Limited|ICRA]])<ref name="icra2" />
| homepage = [https://www.nuvama.com nuvama.com]
}}

'''Nuvama Wealth Management Limited''' (doing business as '''Nuvama Group''') is an Indian multinational [[wealth management]] company headquartered in Mumbai.<ref>{{cite news |last1=Singh |first1=Preeti |last2=Kalesh |first2=Baiju |title=PAG-Backed Indian Asset Manager Eyes Mideast For $400 Million |url=https://www.bloomberg.com/news/articles/2024-04-04/pag-backed-indian-asset-manager-nuvama-eyes-mideast-for-400-million-fundraising
|access-date=6 October 2025 |work=[[Bloomberg News|Bloomberg]] |date=4 April 2024 |language=en}}</ref><ref name="icra2">{{cite web |title=Nuvama Wealth Management Limited |url=https://www.icra.in/Rationale/ShowRationaleReport?Id=136125
|publisher=[[ICRA Limited|ICRA]] |access-date=6 October 2025}}</ref> Established in 1993, the company offers services in [[wealth management]], [[asset management]], asset servicing, and [[capital markets]].<ref>{{cite web |title=Riding the Wealth Wave; Initiate with Buy on 360 ONE and Nuvama |url=https://www.scribd.com/document/794189014/Brokers-Asset-Mgrs-Exchanges-Jefferies-241029-160936
|publisher=[[Jefferies Group|Jefferies]] |access-date=4 November 2025}}</ref><ref>{{cite news |last1=Joshi |first1=Manish |title=For Nuvama Wealth, Jane Street impact is more about sentiment than financials |url=https://www.livemint.com/market/mark-to-market/nuvama-wealth-management-share-price-jane-street-sebi-ban-indian-financial-market-11751877618717.html
|access-date=4 November 2025 |work=[[Mint (newspaper)|Mint]] |date=7 July 2025 |language=en}}</ref>

As of June 2025, Nuvama reported [[assets under management]] of approximately {{INRconvert|4.6|t}}.<ref name="IP">{{cite web |title=Nuvama Investor Presentation Q1 FY26 |url=https://www.nuvama.com/wp-content/uploads/2025/08/Nuvama_Investor-Presentation_Q1-FY-25-26.pdf
|publisher=Nuvama |access-date=6 October 2025}}</ref> Since 2021, the company has been majority owned by PAG, a multinational investment firm.<ref>{{Cite web |first1=Baiju|last1=Kalesh|first2=Manuel|last2=Baigorri|title=PAG’s Nuvama Stake Sale Is Said to Slow Down On Jane Street Case |url=https://www.bloomberg.com/news/articles/2025-09-08/pag-s-nuvama-stake-sale-is-said-to-slow-down-on-jane-street-case
|website=[[Bloomberg News|Bloomberg]]|date=8 September 2025|language=en|access-date=4 November 2025}}</ref><ref>{{Cite web |title=PAG exploring options for majority stake in Nuvama |url=https://www.privatebankerinternational.com/news/pag-exploring-options-for-nuvama/?cf-view
|website=Private Banker International|date=26 February 2025|language=en|access-date=4 November 2025}}</ref>
==History==
The company was established in August 1993 as Kayjay Financial Research Services Private Limited. In 1998, its name was changed to KJS Securities Private Limited and then to Rooshnil Securities Private Limited.<ref name="Arihant">{{cite web |title=Nuvama Wealth Management Ltd |url=https://www.arihantcapital.com/company-information/about-company/26648 |publisher=Arihant Capital |access-date=6 October 2025}}</ref>{{Better source needed|reason=The current source is insufficiently reliable ([[WP:NOTRS]]).|date=December 2025}}

In 2002, the company was acquired by the [[Edelweiss Group]], and changed its name to Edelweiss Securities Limited in 2004. During the fiscal year 2009–10, it acquired Arum Investments Private Limited.<ref name="Arihant"/><ref>{{cite web |title=Edelweiss Securities Limited |url=https://www.brickworkratings.com/Admin/PressRelease/Edelweiss-Securities-30Mar2019.pdf |publisher=Brickwork Ratings |access-date=6 October 2025}}</ref>

In 2021, multinational investment firm [[PAG (investment firm)|PAG]] acquired a controlling stake in the company from Edelweiss Group and minority shareholders-Kora Management and Sanaka Capital.<ref>{{cite news |last1=Shah |first1=Sneha |last2=Barman |first2=Arijit |title=PAG to acquire 51% in wealth management, investment banking biz of Edelweiss for Rs 2,244 cr |url=https://economictimes.indiatimes.com/markets/stocks/news/pacific-alliance-group-to-acquire-wealth-management-investment-banking-biz-of-edelweiss-for-rs-2244-cr/articleshow/77788286.cms |access-date=6 October 2025 |work=[[The Economic Times]] |date=28 August 2020}}</ref> In 2022, the company was renamed as Nuvama Wealth Management Limited, before being listed on the [[National Stock Exchange of India|NSE]] and [[Bombay Stock Exchange|BSE]] on 26 September 2023.<ref>{{cite news |last1=Sreedhar |first1=Vidya |title=Nuvama to demerge from Edelweiss Financial in June, co aims to triple client assets |url=https://economictimes.indiatimes.com/markets/stocks/news/nuvama-to-demerge-from-edelweiss-financial-in-june-co-aims-to-triple-client-assets/articleshow/99431724.cms |access-date=6 October 2025 |work=[[The Economic Times]] |date=12 April 2023}}</ref><ref>{{cite news |last1=Ankit |first1=Gohel |title=Nuvama becomes third wealth management company to list on stock exchanges |url=https://www.livemint.com/market/stock-market-news/nuvama-wealth-management-makes-stock-market-debut-lists-at-rs-2-699-per-share-on-bse-11695784458617.html |access-date=6 October 2025 |work=[[Mint (newspaper)|Mint]] |date=27 September 2023 |language=en}}</ref>

In 2024, Nuvama formed a 50:50 joint venture with [[Cushman & Wakefield]] to establish a real estate fund.<ref>{{cite news |last1=Babar |first1=Kailash |title=Nuvama, Cushman and Wakefield JV raises Rs 1,700 cr through office fund first close |url=https://economictimes.indiatimes.com/industry/services/property-/-cstruction/nuvama-cushman-and-wakefield-jv-raises-rs-1700-cr-through-office-fund-first-close/articleshow/117461792.cms |access-date=6 October 2025 |work=[[The Economic Times]] |date=22 January 2025}}</ref> Later that year, Nuvama established a wholly-owned subsidiary based in [[Dubai International Finance Centre]].<ref>{{cite news |last1=Reyes |first1=Bianca |title=Nuvama Private launches Dubai branch to serve non-resident Indians |url=https://www.financeasia.com/article/nuvama-private-launches-dubai-branch-to-serve-non-resident-indians/497697 |access-date=6 October 2025 |work=[[FinanceAsia]] |date=13 August 2024}}</ref>

==Subsidiaries and services==
Nuvama is engaged in [[wealth management]] services through two divisions: Nuvama Wealth for [[high-net-worth individual|HNIs]] and Nuvama Private for UHNIs.<ref name="Centrum">{{cite web |title=Nuvama Wealth Management Ltd: Almost a perfect quarter |url=https://bsmedia.business-standard.com/_media/bs/data/market-reports/equity-brokertips/2024-10/17301949100.76207500.pdf |publisher=Centrum |access-date=6 October 2025}}</ref><ref name="JMF">{{cite web |title=Nuvama Wealth Management - First cut: In line results, Wealth outperforms Private in a QoQ reversal |url=https://www.jmflresearch.com/JMnew/JMCRM/analystreports/pdf/Nuvama_1QFY26_Result_Flash_Update_13Aug25.pdf |publisher=[[JM Financial]] |access-date=6 October 2025}}</ref> In 2021, it established a wholly-owned subsidiary called Nuvama Asset Management, which provides [[alternative investment]] services through private and public markets, and [[commercial real estate]] assets.<ref>{{cite news |last1=Paul |first1=Sidhanth |title=Nuvama or 360 One: Who's Ahead in Wealth Management? |url=https://premium.capitalmind.in/2024/10/nuvama-or-360-one-whos-ahead-in-wealth-management/ |access-date=6 October 2025 |work=Capitalmind |date=28 October 2024 |language=en}}</ref> The Nuvama Capital Markets division includes Nuvama Institutional Equities, which is engaged in [[equity research]] and [[Broker|broking]] business; Nuvama Investment Banking, which includes [[Equity capital markets|equity]]/[[debt capital]] markets, [[private equity]], and [[Mergers and acquisitions|M&A advisory]] services; and Nuvama Asset Services, which provides [[Clearing (finance)|clearing]], [[Custodian bank|custody]], [[fund accounting]], and [[Financial reporting|reporting]] services to [[financial institutions]].<ref>{{cite web |title=Nuvama Wealth: A diversified play in the wealth management space |url=https://images.assettype.com/bloombergquint/2025-02-13/ipux6x0y/Motilal_Oswal_Nuvama_Company_Update.pdf |publisher=[[Motilal Oswal Financial Services|Motilal Oswal]] |access-date=6 October 2025}}</ref><ref>{{cite news |last1=Singh |first1=Navdeep |title=Jane Street Exit: Why Nuvama could feel the heat while BSE stays largely unscathed |url=https://economictimes.indiatimes.com/markets/stocks/news/jane-street-exit-why-nuvama-could-feel-the-heat-while-bse-stays-largely-unscathed/articleshow/122288488.cms?from=mdr |access-date=4 November 2025 |work=[[The Economic Times]] |date=7 July 2025}}</ref>

==References==
{{reflist}}

[[Category:Investment management companies of India]]
[[Category:Investment banks in India]]
[[Category:Asset management companies]]
[[Category:Financial services companies of India]]
[[Category:Indian companies established in 1993]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Companies listed on the National Stock Exchange of India]]

Nuvama Group - Revision history

Peter120 at 17:00, 13 February 2026