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26-Sep2017

Edelweiss Financial advances on receiving nod to raise funds up to Rs 2,000 crore

Edelweiss Financial Services is currently trading at Rs. 258.75, up by 3.70 points or 1.45% from its previous closing of Rs. 255.05 on the BSE.

The scrip opened at Rs. 257.65 and has touched a high and low of Rs. 264.70 and Rs. 252.05 respectively. So far 1,66,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 296.60 on 18-Sep-2017 and a 52 week low of Rs. 82.10 on 19-Dec-2016.

Last one week high and low of the scrip stood at Rs. 282.80 and Rs. 237.65 respectively. The current market cap of the company is Rs. 22,125.00 crore.

The promoters holding in the company stood at 36.10%, while Institutions and Non-Institutions held 30.07% and 33.83% respectively.

Edelweiss Financial Services has received an approval for raising of funds for an aggregate amount of up to Rs 2,000 crore, by way of issue of securities including but not limited to Equity Shares and/or American Depository Receipts and / or Global Depository Receipts and /or any other securities convertible into Equity Shares and / or Non Convertible Debentures with or without warrants, through Further Public Offer/ Qualified Institutions Placement (QIP) / Preferential Issue / Rights Issue or through any other permissible mode or a combination thereof. The Board of Directors of the company at their meeting held on September 26, 2017 approved the same.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments - agency business and holding company activities.




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