Edelweiss Capital's IPO opens on Nov 15

Mumbai, Oct 31 (UNI) Edelweiss Capital, a diversified financial service company, is entering the capital market on November 15 with its Initial Public Offering (IPO) of 8,386,147 equity shares of Rs 5 each for cash at a price to be decided through a 100 per cent book building process.

The issue will close on November 20, 2007. The price band has been fixed between Rs 725 and Rs 825 per equity share of face value of Rs 5.

Company Chairman Ramesh Shah said, ''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 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, he informed UNI