Edelweiss Capital IPO subscribed 111 times

Published on Tue, Nov 20, 2007 at 09:09 |  Source : Moneycontrol.com

Updated at Wed, Nov 21, 2007 at 09:06  

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The initial public offer (IPO) of Edelweiss Capital, a diversified financial services company, has received overwhelming response. The issue has subscribed 110.96 times, according to data available on NSE website.

It has received bids for 93 crore equity shares as against 8,386,147 equity shares of Rs 5 each on offer and bids for 4 crore shares at cut off price. 

Qualified institutional investors and non institutional investors have given strong support to the issue, their reserved portion subscribed 153x and 164x respectively followed by retail investors and employees' reserved portion subscribed 17 times and 10 times, respectively.

Subscription details

Investors

Times

Qualified institutional buyers

153.15

Non institutional investors

164.30

Retail individual investors

17.22

Employee Reservation

10.18

Total

110.96

 

 

 

 

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.

  

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