Effective annual interest yield on the NCDs ranges from 9.50% p.a. to 11.00% p.a.
MUMBAI, Oct 8 (The CONNECT) – Edelweiss Financial Services Limited today announced the opening of the public issue of secured redeemable Non-Convertible Debentures (NCDs) of the face value of ₹ 1,000 each for an amount up to ₹ 100 crores with a green shoe option of up to ₹ 100 crore, cumulatively aggregating up to ₹ 200 crore
The Issue has 12 series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options with an option of staggered redemption in Series IX and XII. Effective annual interest yield on the NCDs ranges from 9.50% p.a. to 11.00% p.a.
The Issue is scheduled to open on October 7, 2024, and close on October 18, 2024.
At least 75% of the funds raised through the Issue will be used for repayment/prepayment of interest and principal of existing borrowings of the Company and the balance amount would be utilized for general corporate purposes.
The NCDs proposed to be issued under the Issue have been rated “CRISIL A+/ Watch Negative (placed on ‘Rating Watch with Negative Implications’) by CRISIL Ratings Limited. Securities with these ratings are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such securities carry low credit risk”.
Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited and Tipsons Consultancy Services Private Limited are the Lead Managers to the Issue. The NCDs will be listed on BSE Limited to provide liquidity to the investors.
Nuvama Wealth Management Limited is deemed to be an associate of the Issuer.
