Edelweiss Financial NCD Tranche II April 2023 opens for subscription from 06 April 2023. the company aims for a base issue size of ₹200 Crores.
Edelweiss Financial Services Limited
Edelweiss Financial Services commenced operations as an investment banking firm but has diversified its businesses to include credit including retail and corporate credit, asset management, asset reconstruction, insurance, and wealth management businesses.
The company has a pan-India and international network with 238 domestic offices, and three international offices (a total of 241 offices) and employed 5,969 employees as of 31 December 2022. The group comprises 28 subsidiaries and 11 associate companies as of 31 December 2022. Its total income is ₹ 7,304.6 crore for FY 2022 and ₹ 3,393.3 crores for the six months ended 30 September 2022 and ₹ 5,534.92 crores for the nine months ended 31 December 2022 on a consolidated basis.
The company’s profit attributable to owners was ₹188.8 crore for the year ended 31 March 2022 and ₹ 93.6 crores for the six months ended 30 September 2022 and ₹ 194.9 crores for the nine months ended 31 December 2022 on a consolidated basis.
Objectives of the Issue
- For repayment/prepayment of interest and principal of existing borrowings.
- General corporate purposes.
Edelweiss Financial NCD Tranche II April 2023 Details
| Issue Open | Apr 6, 2023 – Apr 21, 2023 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 200 Crores |
| Issue Size (Shelf) | ₹ 400 Crores |
| Issue Price | ₹ 1000 per NCD |
| Face Value | ₹ 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | CRISIL AA-/Negative by CRISIL Ratings Limited and ACUITE AA-/ Negative by Acuité Ratings & Research Limited |
| Tenor | 24, 36, 60 and 120 Months |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trusties | BEACON TRUSTEESHIP LIMITED |
Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 24 months | Annual | 8.95% | 8.94% | ₹ 1,000 |
| Series 2 | 24 months | Cumulative | NA | 8.95% | ₹ 1,187.30 |
| Series 3 | 36 months | Monthly | 9.20% | 9.59% | ₹ 1,000 |
| Series 4 | 36 months | Annual | 9.60% | 9.59% | ₹ 1,000 |
| Series 5 | 36 months | Cumulative | NA | 9.60% | ₹ 1,317.0 |
| Series 6 | 60 months | Monthly | 9.67% | 10.10% | ₹ 1,000 |
| Series 7 | 60 months | Annual | 10.10% | 10.09% | ₹ 1,000 |
| Series 8 | 60 months | Cumulative | NA | 10.10% | ₹ 1,618.70 |
| Series 9 | 120 months | Monthly | 10.00% | 10.46% | ₹ 1,000 |
| Series 10 | 120 months | Annual | 10.45% | 10.44% | ₹ 1,000 |
NCD Rating
The NCDs proposed to be issued under the issue have been rated “CRISIL AA-/” Negative by CRISIL Ratings Limited and “ACUITE AA-/” Negative Acuite Ratings & Research Limited.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 43,187.78 | 7,304.60 | 212.08 |
NCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 200,000 |
| Non-Institutional | 200,000 |
| HNI | 800,000 |
| Retail | 800,000 |
| Total NCD’s | 2,000,000 |
Company Promoters
- Mr. Rashesh Shah
- Mr. Venkatchalam Ramaswamy
- Ms. Vidya Shah
- Ms. Aparna T.C
NCD Lead Manager
EQUIRUS CAPITAL PRIVATE LIMITED
12th Floor, C Wing,
Marathon Futurex, N.M. Joshi Marg,
Lower Parel, Mumbai 400 013
Phone: +91 22 4332 0736
Email: efsl.ncd@equirus.com
Website: www.equirus.com
Edelweiss Financial Services NCD Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Email: efsl2.ncdipo@kfintech.com
Website: www.kfintech.com
Edelweiss Financial Services Contact Details
EDELWEISS FINANCIAL SERVICES LIMITED
Edelweiss House, Off C.S.T. Road,
Kalina, Mumbai 400 098,
Maharashtra, India
Phone: +91 22 4009 4400
Email: efslncd@edelweissfin.com
Website: www.edelweissfin.com
Final Thoughts
Non-Convertible Debentures (NCD) are a better investment option for those who are looking for a diversified portfolio. investing in Edelweiss Financial NCD Tranche II is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing
