Edelweiss is selling the shares in a price range of Rs 280 to Rs 285 each
Singapore/ Mumbai: Edelweiss Financial Services Ltd has launched a share sale to institutions to raise as much as Rs 2,000 crore ($307 million), according to a deal term sheet seen by Reuters on Wednesday.
The deal has a base size of up to Rs 1,500 crore with an up to Rs 500 crore upsize option, the term sheet showed.
Edelweiss is selling the shares in a price range of Rs 280 to Rs 285 each, which would be a discount of 0.9 per cent to a premium of 0.9 per cent to the stock's Wednesday closing price.
The so-called qualified institutions placement will lead to a dilution of up to 7.7 per cent of post-issue capital.
The funds raised will be used to fund growth and expansion, and to boost capital ratios, Edelweiss said in a filing.
Citigroup, Emkay, ICICI Securities, Kotak Mahindra Capital and SBI Capital Markets are managing the share sale, according to the filing.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
