Edelweiss Capital IPO : Edelweiss IPO opens on Nov 15th

Leading Financial services company,Edelweiss Capital, is entering the capital market with its initial public offering (IPO) of 8,386,147 equity shares of Rs 5 each for cash, at a price to be decided through a 100% book building process.

Edelweiss Capital IPO will open for subscription from November 15, 2007. The price band of the Edelweiss IPO has been fixed at Rs 725 on the lower end and Rs 825 at the higher end of the issue. The face value of the equity shares offered under the IPO is Rs 5.

Edelweiss Capital IPO Details : The public issue will offer 8,386,147 shares of Rs 5 each and out of the total equity shares under offer, a reservation of 204,540 equity shares of Rs 5 each will be issued to the eligible employees of the company. So the Net issue offered to the Public is 8,181,607 equity shares of Rs 5 each.The net issue of Edelweiss Capital IPO would constitute 10.92% of the post Issue paid-up capital of the company.

Subscription of Edelweiss Capital IPO closes on 20th November 2007 and the equity shares offered through this IPO are proposed to list on BSE and NSE.

Qualified Institutional Investors Portion is at least 60% or 4,908,965 Equity Shares and Non Institutional Portion is Up to 818,160 Equity Shares. Retail Investors Category will be allotted Up to 2,454,482 or 30%, Equity Shares out of the total issue size of the Edelweiss Capital IPO.

Edelweiss Capital IPO Grading  : The issue has been graded by CRISIL and is assigned the CRISIL IPO Grade 4/5, indicating that the fundamentals of the Issue are above average.

Review and Analysis of Edelweiss Capital IPO :

About Edelweiss Capital Limited : 

Headquartered in Nariman Point, Mumbai the company is a a diversified financial services company, providing investment banking, institutional equities, private client broking,wealth management, insurance broking and wholesale financing services to corporate, institutional and high net worth individual clients. The company operates from 43 offices in 21 cities around India.

Financials of Edelweiss Capital IPO : Consolidated Total Income of the company for the fiscal 2006 and 2007, was Rs. 1,580.0 million and Rs.3,712.5 million, respectively.

In fiscal 2006 and 2007, Edelweiss Capital’s consolidated profit after was at Rs. 405.5 million and Rs. 1,090.1 million, respectively.

Objects of the Edelweiss Capital IPO : The company intends to use the proceeds raised through the issue for,  enhancement of margin maintenance with stock exchanges, establishment of additional offices and acquisition of office infrastructure, enhancement of existing technological capacity and loan prepayment.
 
BRLM’s to the IPO
The book running lead managers to the Edelweiss IPO are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Lehman Brothers Securities Private Limited.

Registrar for the Edelweiss Capital IPO is Intime Spectrum Registry Limited and Post IPO the shares are  to be listed on Bombay Stock Exchange and National Stock Exchange.

Based on the excellent Financials of the company, CRISIL IPO Rating investors can apply for Edelweiss Capital IPO.

For further updates and information regarding Edelweiss IPO Subscription details and allotment status keep visiting www.bsensedaily.com regularly.

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