Edelweiss Financial Services-led Rs400cr public NCD issue oversubscribed

The NCDs have been rated “Acuite AA (read as ACUITE double A) (Outlook: Negative)” for an amount of Rs400cr by Acuite Ratings and Research Limited.

Sep 07, 2021 02:09 IST India Infoline News Service

Edelweiss Financial Services Ltd.
Edelweiss Financial Services Limited (“EFSL”) announced that its public issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been oversubscribed.  The NCD issue has seen interest from investors across series and tenures offering annual, monthly, and cumulative interest options with the effective annual yield ranging from 9.09% to 9.70%.

Rashesh Shah, Chairman & Managing Director, EFSL said “We are delighted with the encouraging response to our NCD issue. The issue has been oversubscribed which shows the faith that investors across categories have in our diversified model and the appetite for high-quality financial papers that offer competitive interest rates”

The issue has seen significant demand in the Retail segment with a total collection of Rs2,79.10cr. The issue also saw good interest from its existing NCD investors, demonstrating continued trust and faith in the group.

The NCDs have been rated “Acuite AA (read as ACUITE double A) (Outlook: Negative)” for an amount of Rs400cr by Acuite Ratings and Research Limited and “[ICRA]A+ (Negative)” for an amount of Rs400cr by ICRA Limited.

Equirus Capital Private Limited is the Lead Manager to the NCD issue. The Issue opened on August 17, 2021 and closed on September 6, 2021. The NCDs will be listed on BSE Limited to provide liquidity to the investors.

At around 2.38 PM, Edelweiss Financial traded at Rs79.45  per piece down 0.6% on Sensex.

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