Edelweiss Financial Services Ltd opens QIP

The Fund Raising Committee of Edelweiss Financial Services Ltd at its meeting held today, approved raising of funds by way of issue of Equity Shares, through a Qualified Institutions Placement (QIP).

The committee approved the opening of the QIP today, i.e., November 15, 2017 and the Relevant Date is fixed as November 15, 2017.

The Floor Price for the QIP, being Rs. 285.14/- per Equity Share, and the Committee may, at its absolute discretion, may offer a discount of not more than 5% (five per cent) and the Preliminary Placement Document dated November 15, 2017 in connection with the QIP.

The Meeting of the Fund Raising Committee is scheduled to be held on or after November 20, 2017, to consider and approve the issue price including a discount, if any, thereto as permitted under the SEBI ICDR Regulations for the Equity Shares to be allotted to Qualified Institutional Buyers pursuant to the QIP.

Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.283.1 as compared to the previous close of Rs. 281.35. The total number of shares traded during the day was 194511 in over 1848 trades.

The stock hit an intraday high of Rs. 285.5 and intraday low of 277.1. The net turnover during the day was Rs. 54650155.

Source : Equity Bulls

Keywords