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Edelweiss Financial Services announces ₹ 4,000 million Public Issue of Secured Redeemable NCDs
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Edelweiss announces strengthening of its Co-Lending partnership with Central Bank of India for MSMEs
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Edelweiss strengthens co-lending partnership with CBoI for MSMEs
By IANS |
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Edelweiss strengthens co-lending partnership with CBoI for MSMEs . (Twitter). Image Source: IANS News
Mumbai, June 1 : Edelweiss Retail Finance Limited (ERFL), an arm of the Edelweiss Group on Tuesday announced strengthening of its existing Co-Lending partnership with Central Bank of India (CBoI), one of India s largest commercial banks for Priority Sector Lending to MSMEs (Micro, Small and Medium Enterprises).
The lenders recently signed a new MoU under RBI s CLM, expanding the portfolio of lending products available to MSMEs, who can now avail of collateral free business loans up to Rs 50 lakh as against Rs 10 lakh earlier. Additionally, they can also avail of LAP Loans (with property backed collateral), up to Rs 10 crore. Building on the success of their partnership, the lenders have collaborated to introduce specially designed products with increased loan limits for the MSME segmen
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 Is
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