Edelweiss Capital Limited IPO Price fixed at Rs. 825 per equity share

Mumbai, November 29, 2007: Edelweiss Capital Limited ("Company"), a diversified financial services company, has fixed the Issue Price at Rs. 825 per equity share for its initial public offering ("IPO" or the "Issue") of 8,386,147 equity shares of Rs. 5 each ("Equity Shares") for cash, at a price decided through a 100% book building process ("Issue"). The Bid/ Issue opened on November 15, 2007, and closed on November 20, 2007. The Price Band had been fixed between Rs. 725 and Rs. 825 per Equity Share.

According to the preliminary bidding data received from the stock exchanges, the Issue was subscribed approximately 111 times with the Qualified Institutional Bidders ("QIBs") portion subscribed to approximately 153 times; the Non Institutional Bidder portion subscribed to approximately 164 times; the Retail Bidder portion subscribed to approximately 17 times and the Employees Reservation portion subscribed to approximately 10 times. Approximately 467,000 application forms were received across all categories.

The Issue has been graded by CRISIL and has been assigned the CRISIL IPO Grade 4 out of 5, indicating that the fundamentals of the Issue are above average. The Issue comprises a net issue to the public of 8,181,607 equity shares of Rs. 5 each (the "Net Issue") and a reservation of 204,540 equity shares of Rs. 5 each for eligible employees of the Company. The Issue would constitute 11.19% of the post Issue paid-up capital of the Company. The Net Issue would constitute 10.92% of the post Issue paid-up capital of the Company. The Equity Shares, offered through this IPO, are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and the Bombay Stock Exchange Limited ("BSE").

The proceeds of the Issue will be used, inter alia, 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.

Headquartered in Mumbai, Edelweiss Capital Limited 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. It operates from 43 other offices in 19 Indian cities. Since its commencement of business in 1996, it has grown into a diversified Indian financial services company organised under agency and capital business lines operated by the Company and its thirteen subsidiaries. Its agency business lines include investment banking, institutional equities, private client broking, asset management and investment advisory services, wealth management and insurance broking. Its capital business lines include wholesale financing services and internal treasury operations.

The Book Running Lead Managers ("BRLMs") to the Issue are: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Lehman Brothers Securities Private Limited.

Source : Equity Bulls

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