Edelweiss Financial Services launches ₹200-crore NCD issue

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Edelweiss Financial Services Ltd’s ₹200-crore public issue for Secured Redeemable Non-Convertible Debentures with a face value of ₹1,000 each, opened on April 8. The issue, which includes a green shoe option of up to ₹100 crore, will close on April 23, 2024.

The NCDs offer an yield of up to 10.46 per cent per annum and are rated CRISIL A+/Stable. They will be traded in dematerialised form only. Allotment will be made on a proportionate basis, in consultation with BSE.

The company said there are 12 series of NCDs with fixed coupons and tenures ranging from 24 months to 120 months, offering annual, monthly, and cumulative interest options. The funds raised through the issue will be used to repay/prepay existing borrowings, with the remainder allocated for general corporate purposes.

Trust Investment Advisors Pvt Ltd and Nuvama Wealth Management Ltd are the lead managers to the issue.

The shares were down by 0.25 per cent at ₹71.97 at 11.14 am on the BSE.