Dec 20 (Reuters) - The wealth management unit of India’s Edelweiss Group has acquired the securities business of domestic financial firm Religare Enterprises Ltd for an undisclosed sum, the two companies said in a statement on Wednesday.
The acquisition by Edelweiss Wealth Management will include Religare's securities and commodities broking services, as well as the depository participant services, according to the statement. bit.ly/2BO1JDx
Shares of Religare rose as much as nearly 5 percent to 73.1 rupees in early trade.
Reporting by Vishal Sridhar in Bengaluru; Editing by Sunil Nair