Moneycontrol news say that Edelweiss Capital IPO will be coming in near future.
It has also rated this @ 4/5.
Any information on this??
Edelweiss Capital proposes to come out with a public issue of 8,386,147 equity shares of face value Rs 5 each. Crisil has come out with report on grading of Edelweiss Capital IPO.
Crisil has assigned a IPO Grade 4/5 to the proposed initial public offer of Edelweiss Capital (ECL). This grade indicates that the fundamentals of the issue are above average, relative to other listed equity securities in India.
The grading reflects the company management's ability as seen in its success in building one of the largest institutional equities derivatives desks in India. It also factors the company's strategy of supporting its institutional equities broking and investment banking businesses through breadth of research coverage and its strength in arbitrage trading on its proprietary book.
The grading takes into account the company's strong business relationships with
foreign institutional investors (FIIs) in the institutional equities broking segment and its sound corporate governance structure. The grading is tempered by the fact that the company's earnings continue to be dependent on their skills in identifying arbitrage opportunities in its proprietary trading business, where yields have fallen over the years but have remained reasonably stable over the last 18 months.
Further, the grading reflects the fact that ECL has created a good position in the mid-size space of Indian investment banking, an area with significant growth potential, but competition is expected to intensify in this space.
About the company
As of March 2007, the company was predominantly engaged in institutional equities broking, investment banking and proprietary arbitrage trading activities. It also has a small presence in insurance broking, asset management and investment advisory services, wealth management and wholesale financing activities.
Since commencement of business in 1996, ECL has grown from a boutique investment bank into a multi-activity financial services company organised under agency and capital business lines and operates through the company and its nine subsidiaries.
For the year ended March 2007, the company's consolidated total income and net profits were Rs 3,712.53 million and Rs 1,090.08 million, respectively, reports Crisil Research
It has also rated this @ 4/5.
Any information on this??
Edelweiss Capital proposes to come out with a public issue of 8,386,147 equity shares of face value Rs 5 each. Crisil has come out with report on grading of Edelweiss Capital IPO.
Crisil has assigned a IPO Grade 4/5 to the proposed initial public offer of Edelweiss Capital (ECL). This grade indicates that the fundamentals of the issue are above average, relative to other listed equity securities in India.
The grading reflects the company management's ability as seen in its success in building one of the largest institutional equities derivatives desks in India. It also factors the company's strategy of supporting its institutional equities broking and investment banking businesses through breadth of research coverage and its strength in arbitrage trading on its proprietary book.
The grading takes into account the company's strong business relationships with
foreign institutional investors (FIIs) in the institutional equities broking segment and its sound corporate governance structure. The grading is tempered by the fact that the company's earnings continue to be dependent on their skills in identifying arbitrage opportunities in its proprietary trading business, where yields have fallen over the years but have remained reasonably stable over the last 18 months.
Further, the grading reflects the fact that ECL has created a good position in the mid-size space of Indian investment banking, an area with significant growth potential, but competition is expected to intensify in this space.
About the company
As of March 2007, the company was predominantly engaged in institutional equities broking, investment banking and proprietary arbitrage trading activities. It also has a small presence in insurance broking, asset management and investment advisory services, wealth management and wholesale financing activities.
Since commencement of business in 1996, ECL has grown from a boutique investment bank into a multi-activity financial services company organised under agency and capital business lines and operates through the company and its nine subsidiaries.
For the year ended March 2007, the company's consolidated total income and net profits were Rs 3,712.53 million and Rs 1,090.08 million, respectively, reports Crisil Research
