India: CDPQ comes in as Edelweiss ARC sponsor, holds 20% stake in entity

India: CDPQ comes in as Edelweiss ARC sponsor, holds 20% stake in entity

Photo: Ramesh Pathania/Mint

Edelweiss Asset Reconstruction Co Ltd (EARC) on Tuesday said CDPQ Private Equity Asia Pte Ltd, an entity controlled by Canada’s second-largest pension fund manager CDPQ, has become one of the sponsors of EARC with 20% shareholding in the company.

This is post the conversion of 3,32,00,000 compulsorily convertible preference shares (CCPS) held by CDPQ into 5,26,31,579 shares of ₹10 each, valued at ₹97.25 each, Edelweiss said in a statement. This was done after receiving approval from the Reserve Bank of India.

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