Edelweiss Financial Services announces ₹ 200 crore Public Issue of Secured Redeemable NCDs
Posted On:
2020-12-20 23:47:50
(Time Zone: Arizona, USA)
Edelweiss Financial Services Limited (EFSL), the parent arm of the Edelweiss Group, today announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of a face value of ₹1,000 each, amounting to ₹ 100 crores ("Base Issue"), with an option to retain over-subscription up to ₹ 100 crores aggregating to a total of ₹ 200 crores ("Issue").
The NCDs offer an effective yield (cumulative) of 9.95% p.a. for 120 months tenure, 9.35% p.a. for 36 months tenure and up to 9.80% p.a. for 60 months tenure. 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, in compliance with the Securities and Exchange Board of India (Issue And Listing Of Debt Securities) Regulations, 2008 as amended ("SEBI Debt Regulations").