Mumbai: Edelweiss Financial Services has raised Rs 1,500 crore by selling fresh shares to institutional investors on Thursday. The company sold 5.35 crore shares to foreign and domestic investors in a Qualified Institutional Placement at Rs 280 a piece, said a top official familiar with the matter. The stock closed 0.9 per cent lower at Rs 279.95 on Thursday.This is the first share sale by Edelweiss Financial since its listing 10 years ago. CDPQ also acquired a 20 per cent equity stake in Edelweiss Asset Reconstruction.Other investors in the QIP include existing shareholders like Amansa Holdings and Scandinavian Insurance . While Amansa holds 1.39 per cent in Edelweiss Financial, Scandinavian held 4 per cent stake in Edelweiss Asset Reconstruction.Currently promoter Rashesh Shah and his family hold 35.95 per cent stake in the company.

Source: Economic Times November 17, 2017 03:11 UTC