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Edelweiss Financial Services raises over Rs 4,500 million through Public Issuance of NCDs
Edelweiss Financial Services raises over Rs 4,500 million through Public Issuance of NCDs
- Over 16,000 applications were received from pan India.
- Almost 46% of the total issue size got subscribed for 5 years & 10 years tenure, as investors seek to subscribe for the long term.
- Early closure of the Tranche I Issue (the Issue) on December 22, 2021, as against the scheduled closure on December 27, 2021.
Edelweiss Financial Services Limited today announced that the Issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been completed successfully. The company has allotted 45,62,472 NCDs of the face value of Rs 1,000 each, amounting to Rs 4,562.47 million.
EFSL had decided to do an early closure of the Issue on December 22, 2021, against the scheduled closure on December 27, 2021.
The Issue has seen significant demand in the Retail and HNI segment with a total collection of Rs 3,619.71 million. The Issue also saw good interest from the existing investors, demonstrating continued trust and faith in the Edelweiss group.
Commenting on the success of the Issue, Rashesh Shah, Chairman, Edelweiss Group said "The consistent positive feedback to our NCD issues reassures us of the faith bestowed by the investors. The subscription to the Issue was very good and we closed it earlier than planned."
The Issue has seen interest from investors across series and tenures offering annual, monthly and cumulative interest options with the effective annual yield ranging from 8.75per cent to 9.70 per cent per annum.
The NCDs have been rated "CRISIL AA-/Negative" (pronounced as CRISIL double A minus rating with Negative outlook) and "ACUITE AA/Negative" (pronounced as ACUITE double-A rating with Negative outlook).
Equirus Capital Private Limited acted as the Lead Manager to the Issue. The NCDs are listed on BSE Limited.
