PAG’s Nuvama Stake Sale Is Said to Slow Down On Jane Street Case

Asian private equity firm PAG’s potential sale of its controlling stake in Nuvama Wealth Management Ltd. has slowed down amid valuation concerns following an investigation of Jane Street Group by India’s stock market regulator, according to people familiar with the matter.

While sale considerations are ongoing, a transaction might be delayed as bidders including buyout firms and industry players need more time to evaluate the impact of the Jane Street case on Mumbai-listed Nuvama, the people said, asking not to be identified because the deliberations are private. Nuvama is the local trading partner of Jane Street.

Talks with prospective ...