Edelweiss Capital, Renaissance Jewellery to list on Dec 12
After receiving overwhelming response to the initial public offers, Edelweiss Capital, and Renaissance Jewellery will list on the bourses on December 12, 2007. The offer price has been fixed at Rs 825 and Rs 150 respectively.
Edelweiss Capital issue was subscribed 110.96 times. Analysts expect that the Edelweiss Capital stock will list above Rs 1500 on December 12, 2007 as against issue price of Rs 825.
Renaissance Jewellery, manufacturer of studded gold, platinum and silver jewellery, had entered capital market with a public issue of 53.24 lakh shares of Rs 10 each at a price band between Rs 125 and Rs 150. It was subscribed 23.63 times.The company had issued one detachable warrant for every two equity shares allotted. Warrant exercise price would be at a fixed premium of 25% over the issue price. A warrant exercise period will commence post 16 months from the date of allotment of the equity shares and warrants.
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