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Published on 1/12/2021 11:43:49 AM | Source: Accord Fintech

Edelweiss Financial Services shines on getting nod to raise up to Rs 1,000 crore through NCDs

Posted in IPO Analysis| #IPO #Edelweiss Financial Services Ltd

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Edelweiss Financial Services is currently trading at Rs. 68.05, up by 1.10 points or 1.64% from its previous closing of Rs. 66.95 on the BSE.

The scrip opened at Rs. 69.65 and has touched a high and low of Rs. 69.65 and Rs. 67.70 respectively. So far 18356 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 100.80 on 14-Jul-2021 and a 52 week low of Rs. 56.70 on 03-May-2021.

Last one week high and low of the scrip stood at Rs. 76.35 and Rs. 66.30 respectively. The current market cap of the company is Rs. 6303.73 crore.

The promoters holding in the company stood at 32.82%, while Institutions and Non-Institutions held 34.95% and 32.24% respectively.

Edelweiss Financial Services has received approval from board of directors for raising up to Rs 1,000 crore through non-convertible debentures (NCDs), half of which will be mopped up in the first tranche.  A meeting of the debenture fund raising committee of the company's board of directors held on November 29, 2021 considered and approved the public issue of secured, redeemable non-convertible debentures.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments - agency business and holding company activities.