Edelweiss Financial Services (EFSL) has raised Rs.1,527.75 crore via the Qualified Institutions Placement (QIP) route.

As per the company, “This is the first equity fund raise by EFSL since its IPO in December, 2007. EFSL allotted 54,562,488 equity shares of face value of Rs.1 each (Equity Shares) to eligible qualified institutional buyers (QIBs) at Rs.280 per equity share, at a discount of 1.80% to the QIP floor price of Rs.285.14 per equity share.”

The QIP was opened for subscription on November 15,2017 and it closed on November 20,2017. Further, the QIP was subscribed by foreign as well as domestic Qualified Institutional Buyers (QIBs).

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