Edelweiss said that it had dropped its plan to buy securities business of Religare. The move was shelved because of the sellers inability to get requisite clearances within the required timeline.
The binding agreement had come to an end on March 15, the firm said in a stock exchange filing.
In December, Edelweiss had announced its plan to buy Religare's securities business, which includes securities and commodities broking, and depository participant services.
