Edelweiss' Q4 net dips 3% to Rs 232 cr, company to float $1-bn debt fund

Existing equity enough to support growth for 3-4 years, says company

Edelweiss Financial Services on Tuesday said its current net worth of Rs 8,715 crore and retained earnings will support growth for the next 3-4 years, while its balance sheet remained flat during financial year (FY19).

It plans to raise a $1-billion structured debt fund for corporates that could be closed in FY20, depending on the market environment. The first closure of the proposed fund could be at $400-500 million.

The non-banking finance company (NBFC) reported a 3.4 per cent drop in consolidated net profit at Rs 232 crore for the fourth quarter of FY19, compared to the year-ago period. Its