Edelweiss Financial Services Unveils Rs 2,000 Mn Public Issue Of NCDs

Edelweiss Financial Services or EFSL on Tuesday unveiled the opening of the public issue of secured redeemable non-convertible Debentures (NCDs) of the face value of Rs 1,000 each for an amount up to Rs 1,000 million (base issue size), with a green shoe option of up to Rs 1,000 million, cumulatively aggregating up to Rs 2,000 million (issue limit).

The company in a press release said that the issue has 12 series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options with an option of staggered redemption in Series IX and XII.

The firm added that the effective annual interest yield on the NCDs ranges from 9.50 per cent to 11.00 per cent p.a.

The issue is scheduled to open on 7 October 2024 and close on 18 October 2024.

At least 75 per cent of the funds raised through the Issue will be used for repayment/prepayment of interest and principal of existing borrowings of the Company and the balance amount will be utilised for general corporate purposes, subject to such utilisation not exceeding 25 per cent of the amount raised in the issue, the company said.