An alternative investment fund with targeted corpus of Rs. 1,750 crore has been launched by Edelweiss Group with an aim to invest in companies that are at a "crossover" point of going from unlisted to listed in the near term.
By launching the Edelweiss Crossover Opportunities Fund, the strategy of the group is to invest in companies that provide such crossover opportunities having visibility of accessing public markets.
The Initial Public Offering market activity has gathered pace and companies from a wide range of sectors intend to go public in the near term, opening up new investment opportunities for investors, Edelweiss said.
"The Indian IPO market has been very strong in the past few years, with this fiscal year already seeing record offerings of over Rs. 60,000 crores and the pipeline for the next few quarters also looks strong. We believe that crossover opportunities will remain healthy as capital markets are expected to remain stable in the near to mid-term," Nitin Jain, CEO, Global Wealth and Asset Management, Edelweiss said.
The Fund, through its investments, also endeavors to provide solutions to capital structure situations that companies tend to face in their preparation for accessing public markets in near future.
Edelweiss Group provides a range of financial services including investment banking, institutional equities, securities broking, asset management, wealth management and alternative asset management.
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