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Edelweiss Financial Services has launched 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 100 crore ("base issue size"), with a green shoe option of up to Rs 100 crore, cumulatively aggregating up to Rs 200 crore ("issue").
There are twelve 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 9.00% p.a. to 10.46% p.a. The issue opened on 8 April 2024, and it will close on 23 April 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 utilised for general corporate purposes.
The NCDs proposed to be issued under the Issue have been rated "CRISIL A+/Stable (pronounced as CRISIL A plus rating with Stable outlook)".
Edelweiss Financial Services was incorporated on 21 November 1995 under the name Edelweiss Capital and started operations as an investment banking firm after receipt of a Category II license from SEBI. Edelweiss Capital subsequently received a Category I Merchant Banker license from SEBI with effect from 16 October 2000. The name of Edelweiss Capital was changed to ‘Edelweiss Financial Services Limited’ with effect from 1 August 2011.
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