29 Sept 2022 , 08:13 AM
The public bond issue by Edelweiss Financial Services (EFSL), which begins next week, might raise up to Rs400 crore. With an option to keep oversubscription up to Rs200 crore, the base issue size is Rs200 crore.
The company would issue Rs1,000 face value secured redeemable non-convertible debentures (NCDs) as part of the offering.
According to a bulletin issued by EFSL on Wednesday, the effective annual yield on NCDs ranges from 8.84% to 10.09%.
The bonds will have terms of 24, 36, 60, and 120 months, and there will be options for annual, monthly, and cumulative interest.
The issue's opening date is October 3 and it has an optional early closure date of October 17, 2022.
According to EFSL, the NCDs will be listed on BSE to give investors liquidity.
The financial services company stated that at least 75% of the cash raised through this offering will be used to pay off or advance the principal and interest on the company's current borrowings.
According to the corporation, the remaining funds are intended to be used for general corporate objectives, but only up to a maximum of 25% of the funds collected by the issuance.
Additionally, the company's and its group companies’ current bondholders will receive an extra 0.20% annual discount on the coupon rate.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.