Edelweiss to Tap Small-Town India in Race to Capture New Wealth

Edelweiss Asset Management Ltd. plans to expand its presence to 100 cities across India as it seeks to tap into a wave of interest among retail investors in the country’s stock market.

The asset management company is looking to expand into smaller towns and cities where a growing number of investors are looking to funnel their savings into Indian stocks, Chief Executive Officer Radhika Gupta said in an interview with Bloomberg.

“There are amazing wealth stories coming out of Tier 2, Tier 3 and Tier 4 cities in India,” Gupta said, adding that the firm is looking ...