Edelweiss Fin

By Research Desk
about 17 years ago

 

 

Edelweiss Capital filed its DRHP with SEBI on 21st August 2007. It is planning a public issue of 83,86,147 equity shares of Rs 5 each for cash at a price to be decided through the book building process. The issue would constitute 11.19% of the post issue capital. The BRLM's to the issue are Kotak Investment Banking, Citigroup Global Markets and Lehman Brothers. The shares are proposed to be listed on the National Stock Exchange and Bombay Stock Exchange.

 

The company is a diversified financial services company in India, providing 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. Located in Nariman Point, Mumbai, the company has another 43 offices in 21 Indian cities.

 

It has institutional investors like Heliconia Pte Limited (which is currently a wholly owned subsidiary of GIC (Ventures) Pte Ltd held through a wholly owned subsidiary Lathe Investment Pte Ltd), Greater Pacific Capital, Galleon International, Sequoia, Shuaa Capital and Lehman Brothers.

 

The company is raising money to fund the increase in its margin maintenance with stock exchanges to the tune of Rs.300 crore. It also plans to use a portion of the proceeds of the issue to buy office space of about 30,000 sq ft either for Edelweiss Capital or for Edelweiss Securities, which is earmarked at Rs.26.92 crore. It is also planning to prepay loans to the tune of Rs.5 crore taken from Standard Chartered and Rs.50 crore from Kotak Mahindra Prime.

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