The funds raised through the QIP would be utilised by EFSL for various purposes, including but not limited to, augment its long term resources, to fund growth and expansion, maintain capital adequacy, consolidation of its subsidiaries and general corporate purposes as per EFSL's growth and business related plans from time to time.
EFSL allotted 54,562,488 equity shares of face value of Rs.
Investors in Edelweiss gain exposure to a diversified breadth of businesses serving both retail and corporate customers that ranges from retail and corporate credit, wealth management, asset management, capital markets to insurance," said Rashesh Shah, Chairman, Managing Director and CEO of EFSL.
EFSL is the local business partner that is spearheading the business collaboration within Kenya.
Chibuzo Ene, the co-founder of EFSL, stated that they had big ambitions for NFC contactless payments in Kenya.