Rs4000 million Public NCD issue of Edelweiss Financial Services 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%*.

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

Edelweiss Financial Services
Edelweiss Financial Services Limited (EFSL) announced that its public issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been oversubscribed.

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. 

The issue has seen significant demand in the Retail segment with a total collection of Rs2,791.06 million. The issue also saw good interest from its existing NCD investors, demonstrating continued trust and faith in the group.

Commenting on the success 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 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%*.

The NCDs have been rated “Acuite AA (read as ACUITE double A) (Outlook: Negative)” for an amount of Rs4,000 million by Acuite Ratings and Research Limited and “[ICRA]A+ (Negative)” for an amount of Rs4,000 million by ICRA Limited.

Equirus Capital Private Limited is the Lead Manager to the NCD issue.

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