MUMBAI: Edelweiss Capital will enter capital markets with its initial public offering (IPO) on Thursday.
The price-band of 83,86,147 equity shares of face value Rs 5 each is fixed at Rs 725-825. The issue closes November 20.
Rating agency CRISIL has assigned an IPO grade of 4/5 to the company indicating that the fundamentals of the issue are above average.
Edelweiss plans to utilise proceeds for enhancement of margin maintenance with stock exchanges, establishment of additional offices and acquisition of office infrastructure, enhancement existing technology capacity and prepayment of loans.
Its total consolidated income for 2006-07 (Apr-Mar) was Rs 371.2 crore and net profit for the year stood at Rs 109 crore.
For 5-month period ended August 2007, its consolidated total income stood at Rs 284.8 crore and net profit stood at Rs 80.9 crore.
Kotak Mahindra Capital, Citigroup and Lehman Brothers are the book running lead managers to the issue.
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