Edelweiss lists at 75% premium on BSE

Edelweiss Capital today listed on the Bombay Stock exchange at Rs 1,444 as against the offer price of Rs 825 - a premium of 75% to its issue price. The stock hit a high of Rs 1,609, and is currently (1040 hrs) trading at Rs 1,529.

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.

Edelweiss Capital had come out with a public issue of 83,86,147 equity shares of Rs 5 each, in a price band of Rs 725-825 per equity share. The issue was subscribed almost 111 times.

The financial services company plans to use the proceeds of the issue 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.

The lead managers to the issue were Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Lehman Brothers Securities Private Limited.