The issue opened on 9 January 2024 and it will close on 22 January 2024. There are ten 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 yield for NCDs ranges from 8.94% p.a. to 10.46% p.a. NCDs will be listed on BSE.

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 is proposed to be utilized for general corporate purposes, subject to such utilization not exceeding 25% of the amount raised in the issue.

The additional incentive will be a maximum of 0.20% p.a. for all categories of investors in the proposed Issue, who are also holders of debentures(s)/bond(s) previously issued by the company, and/or ECL Finance, Nido Home Finance (formerly known as Edelweiss Housing Finance), Edelweiss Retail Finance , and/or are equity shareholder(s) of the company as the case may be, on the preceding working Friday to the deemed date of allotment.

The NCDs proposed to be issued under the issue have been rated “CRISIL A+/Stable (pronounced as CRISIL A plus rating with Stable outlook) and ICRA A+/rating watch with negative implications”.

Edelweiss Financial Services has a diversified businesses including credit including retail and corporate credit, asset management, asset management including mutual fund and alternatives asset management businesses, asset reconstruction, insurance both life and general insurance business, and wealth management businesses.