The initial public offer (IPO) of Edelweiss Capital, a diversified financial services company, has received overwhelming response. The issue has subscribed 109.8 times till 5 pm, according to data available on NSE website.
It has received bids for 92 crore equity shares as against 8,386,147 equity shares of Rs 5 each on offer.
According to sources, qualified institutional investors and non institutional investors have given strong support to the issue, their reserved portion subscribed 125 times each followed by retail with 10 times subscription.
The price band has been fixed between Rs 725 and Rs 825 per equity share of face value Rs 5.
The proceeds of the issue will be used, inter alia, towards enhancement of margin maintenance with stock exchanges, establishment of additional offices and acquisition of office infrastructure, enhancement of existing technological capacity and loan prepayment.
Edelweiss Capital provides investment banking, institutional equities, private client broking, asset management, wealth management, insurance broking and wholesale financing services to corporate, institutional and high net worth individual clients.
The book running lead managers to the issue are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Lehman Brothers Securities Private Limited.
Courtesy: Moneycontrol.com
Tuesday, November 20, 2007
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