Edelweiss Financial Services Ltd closes Qualified Institutional Placement

In respect of the Qualified Institutions Placement of Equity Shares of face value of Rs 1 each of Edelweiss Financial Services Ltd (QIP Issue), the Fund Raising Committee of the Company at its meeting held today, approved the Closure of QIP Issue today i.e. November 20, 2017, which opened on November 15, 2017.

The committee also approved the Issue Price of Rs. 280/- per Equity Share, which is at a discount of 1.80% (i.e. Rs. 5.14/- per Equity Share), to the QIP Floor price of Rs. 285.14/- per Equity Share, determined in accordance with the pricing formula provided under Regulation 85(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (SEBI ICDR Regulation), for the 54,562,488 Equity Shares to be issued to eligible Qualified Institutional Buyers pursuant to the QIP Issue.

The committee also approved the Placement Document dated November 20, 2017 in connection with the QIP Issue.

Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.300.35 as compared to the previous close of Rs. 291.5. The total number of shares traded during the day was 397889 in over 4515 trades.

The stock hit an intraday high of Rs. 302.4 and intraday low of 292.4. The net turnover during the day was Rs. 118865677.

Source : Equity Bulls

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