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Edelweiss IPO opens on Nov. 15
Corporate Reporter
CHENNAI: Edelweiss Capital Limited, a diversified financial services company, headquartered in Mumbai, is entering the capital market with its initial public offering (IPO) of 83.86 lakh equity shares of Rs. 5 each for cash. The issue will remain open from November 15 to 20 and the price band has been fixed between Rs. 725 and Rs. 825.
Addressing presspersons here on Tuesday, Venkat Ramaswamy, Executive Director and Head of Investment Banking, and co-founder, said the proceeds of the issue will be used towards enhancement of margin maintenance with stock exchanges, establishment of additional offices and enhancement of existing technological capacity and loan prepayment.
The company’s consolidated total income has grown to Rs. 371.25 crore in fiscal 2007 from Rs. 77.05 crore in 2005 and the profit after taxation to Rs. 109.01 crore from Rs. 22.48 crore.
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