edelweiss-prices-ipo-at-the-top

Edelweiss prices IPO at the top

The $176 million offering for the Indian investment bank is 111 times covered despite volatile markets.
Given the current jitters in global financial markets, it may not seem like the best time to bring a company involved in brokerage and investment banking to market, but in fact, relative to its size, the initial public offering of Edelweiss Capital turned out to be one if the ôhottestö offerings in India so far this year.

When the books closed on Wednesday, investors had submitted orders for 111 times the overall number of shares available. This allowed the firm to fix the price at the top end of the Rs725 to Rs825 offering range for a total deal size of Rs6.92 billion $176 million. Citi, Kotak Mahindra and Lehman Brothers were the joint...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222