Edelweiss Financial Services Launches NCD Offering of up to Rs2,500 Million
MAS Team | 12 January 2024
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Edelweiss Financial Services (EFSL) has introduced a public offering of secured redeemable non-convertible debentures (NCDs), aiming to raise up to Rs2,500 million. The base issue size is set at Rs1,250 million, with an additional Rs1,250 million available through the green shoe option.
These NCDs, each having a face value of Rs1,000, come in 10 sets with fixed coupons and diverse tenures of 24, 36, 60, and 120 months, offering annual, monthly, and cumulative interest options. The effective annual yield for these NCDs ranges from 8.94% to 10.46%. The offering, initiated on January 09, 2024, is slated to conclude on January 22, 2024.
A substantial portion, a minimum of 75%, of the funds raised will be allocated for the repayment/prepayment of EFSL's existing borrowings, covering both interest and principal. The remaining allocation for general corporate purposes is capped at 25%, adhering to the Securities and Exchange Board of India (SEBI) regulations.
As an incentive, a maximum additional 0.20% per annum will be extended to all categories of investors participating in the offering, provided they are existing holders of debentures/bonds previously issued by EFSL, and/or related entities like ECL Finance Limited, Nido Home Finance, Edelweiss Retail Finance, or equity shareholders of EFSL, as applicable.
The NCDs set for issuance have secured ratings of “CRISIL A+/Stable" and “ICRA A+/rating watch with negative implications". Trust Investment Advisors and Nuvama Wealth Management have been appointed as lead managers, and post-issuance, the NCDs will be listed on BSE, ensuring liquidity for investors.
Dear Investor,
In case of any grievance / complaint :
In case of any grievance / complaint :
- Please contact Compliance Officer Pankaj Raheja at [email protected] and Phone No. - 91-22-35131664.
- You may also approach CEO Debashis Basu at email- id [email protected] and Phone No. - 91-22-35131664.
