Edelweiss Financial gains on successful fund raising through QIP issue
The company will utilise the proceeds for augmenting long-term resources, fund growth and expansion, maintaining capital adequacy, and consolidation of its subsidiaries.
“The company allotted 54.56 million equity shares to qualified institutional buyers (QIBs) at Rs 280 per shares, at a discount of 1.8% to the QIP floor price of Rs 285.14 per equity share,” EFSL said in a press release.
The QIP saw subscription from foreign as well as domestic QIBs. Caisse de Dépôt et Placement du Québec (CDPQ), the second-largest pension fund in Canada has used the opportunity to get a stake in EFSL. Other marquee investors in the QIP included HDFC Mutual Fund, Kotak Mutual Fund and Birla Mutual Fund as well as existing shareholders like Goldman Sachs, Nomura, Fidelity, Steadview, GSAM, Halbis, GMO, DE Shaw, Amansa William Blair etc, it added.