Khaitan & Co advised Edelweiss Group entities on WestBridge Capital’s proposed acquisition of 15% stake in Edelweiss Mutual Fund
The leading Indian law firm Khaitan & Co advised Edelweiss Financial Services Limited, Edelweiss Asset Management Limited, and Edelweiss Trusteeship Company Limited on WestBridge Capital’s proposed acquisition of a 15% stake in each of Edelweiss Asset Management Limited (the asset manager of Edelweiss Mutual Fund) and Edelweiss Trusteeship Company Limited (the trustee of Edelweiss Mutual Fund), for a consideration of INR 450 crores (approximately USD 51.4 million).
This transaction marks WestBridge Capital’s entry into the mutual funds sector in India. Edelweiss Mutual Fund is one of the key businesses of Edelweiss Financial Services Limited, and Edelweiss Asset Management Limited is among India’s fastest-growing AMCs. As of June 30, 2025, Edelweiss Mutual Fund had a total AUM of INR 1,52,200 crores, reflecting a 44% CAGR over the last five years. The completion of the transaction is subject to receipt of approvals from the Securities and Exchange Board of India, the Competition Commission of India, and other customary approvals and closing conditions.
About Edelweiss Mutual Fund
Edelweiss Mutual Fund is one of the key businesses for EFSL and currently manages INR 72,600 crores of equity AUM, which has grown by 53% over the last five years. It reported a profit after tax of INR 53 crores for FY25. The current transaction values the business at 57x P/E, aligning with industry benchmarks of 30x to 60x. Edelweiss Asset Management Limited, one of India’s fastest-growing AMCs, has reached a total AUM of INR 1,52,200 crores as of June 30, 2025, reflecting a 44% CAGR over the last five years. Edelweiss Mutual Fund reported a PAT of INR 28 crores for the first quarter of FY26, demonstrating strong momentum and improved operating leverage. Over a 10-year period, Edelweiss Mutual Fund has moved from the 36th to the 13th position in the industry, a clear indicator of its transformation into a credible, scaled, and competitive player in the Indian mutual fund landscape.
The Khaitan & Co team advising on the matter was led by Kartick Maheshwari (Partner), Saswat Subasit (Partner), and Vidushi Gupta (Partner), supported by Ritika Vardhan (Counsel), Kaushik Babu (Principal Associate), Saranya Mishra (Senior Associate), Utsav Mitra (Senior Associate), and Pavitra Khaitan (Associate).
The team also included Alankrita Singh (Associate) and Khushi Sharma (Associate) on legal and regulatory due diligence, Anshul Prakash (Partner) and Kruthi Murthy (Principal Associate) on employment law due diligence, Anisha Chand (Partner), Rishabh Vohra (Senior Associate), and Aujaswi Maken (Associate) on CCI/competition law matters, Vivek Mimani (Partner), Khusboo Agarwal (Principal Associate), and Samarth Chopra (Senior Associate) on SEBI/regulatory matters, with further support from Sanjana Dwivedi (Associate) on transaction documentation and Poojita Saxena (Associate) on execution assistance
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