Edelweiss Financial Services announces Rs. 2,000 million Public Issue of Secured Redeemable Non-Convertible Debentures


Mumbai: Edelweiss Financial Services Limited on Monday announced 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, with a green shoe option of up to Rs. 1,000 million, cumulatively aggregating up to ₹ 2,000 million.

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. Effective annual interest yield on the NCDs ranges from 9.50% p.a. to 11.00% p.a. The Issue is scheduled to open on July 08, 2024 and close on July 22, 2024.

At least 75% of the funds raised through this Issue will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the Company and the balance amount would be utilized for general corporate purposes, subject to such utilization not exceeding 25% of the amount raised in the Issue, in compliance with the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021, as amended from time to time (“SEBI NCS Regulations”). The NCDs proposed to be issued under the Issue have been rated “CRISIL A+/ Watch Negative (placed on ‘Rating Watch with Negative Implications’). Trust Investment Advisors Private Limited and Nuvama Wealth Management Limited# are the Lead Managers to the Issue. The NCDs will be listed on BSE Limited to provide liquidity to the investors.

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