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PAG Eyes Nuvama Exit Amidst Market Optimism
22 Jun
Summary
- PAG is considering restarting the sale of its controlling stake in Nuvama Wealth Management.
- The firm previously attempted a sale last year but faced valuation mismatches with potential buyers.
- Nuvama Wealth managed Rs 4.5tn in client assets, serving over 13 lakh HNIs as of Q4 FY26.
Private equity firm PAG is assessing the potential to relaunch a sale process for its controlling interest in Nuvama Wealth Management. PAG currently holds a 54.13% stake in the company.
Last year, PAG explored options for its majority stake but the sale did not materialize due to valuation disagreements with potential private equity buyers. Market sentiment has since improved, prompting PAG to reconsider an exit.
PAG invested around $325 million in March 2021 to gain control of Nuvama. The company is described as a high-growth asset with profits exceeding Rs 1,000 crore and managed Rs 4.5tn in client assets as of Q4 FY26, serving over 13 lakh HNIs.
Discussions are preliminary, with initial approaches made to potential suitors including PE firms and strategic investors. If PAG proceeds, a formal sale process could commence in late July or early August. Alternatively, PAG might explore selling its stake in tranches through block deals.
