Mumbai: Edelweiss Capital Ltd, a diversified financial services company, is foraying into the capital market with an IPO of 83,86,147 equity shares of Rs 5 each. The company plans to raise a total of Rs 690 crore.
The shares are proposed to be listed on both the BSE and the NSE. The price will be decided through 100 per cent book-building process. The price band for the issue is fixed between Rs 725 and Rs 825. Issue will open on November 15 and will close on November 20.
The earnings from the issue will be used for the enhancement of margin maintenance with stock exchanges by their subsidiary, ESL, establishment of additional offices and acquisition of infrastructure, development of existing technological capacity, prepayment of loans and for general corporate purposes.
Qualified institutional buyers will be allotted 60 per cent of the issue, 10 per cent to non-institutional investors and the remaining 30 per cent will be allocated to retail investors.
The book running lead managers for the Issue are Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Pvt Ltd, and Lehman Brothers securities Pvt Ltd.
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