Edelweiss Capital IPO subscribed 111 times
November 20, 2007 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 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.
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of NetApp, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Dominic Orr and Keerti Melkote of Aruba Wireless Networks and Jonathan Kaplan of Pure Digital. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
KP Balaraj
SEQUOIA CAPITAL
kp.balaraj@sequoiacap.com
