RBI imposes penalty on Nido Home Finance Ltd

The Reserve Bank of India (RBI) has by an order dated September 15, 2023, imposed a monetary penalty of Rs. 1.55 lakhs on Nido Home Finance Limited (Nido), a wholly owned subsidiary of Edelweiss Financial Services Limited, for change in its shareholding due to progressive increases over time, resulting in acquisition of shareholding beyond the permitted limit by the Group Companies, without obtaining the prior approval of the RBI. The order was received by Nido on September 15, 2023.

Shares of Edelweiss Financial Services Limited was last trading in BSE at Rs. 54.58 as compared to the previous close of Rs. 54.67. The total number of shares traded during the day was 446045 in over 2035 trades.

The stock hit an intraday high of Rs. 55.75 and intraday low of 54.30. The net turnover during the day was Rs. 24564207.00.

Source : Equity Bulls

Keywords

EdelweissFinancialServices INE532F01054 RBI MonetaryPenalty NidoHomeFinance