Edelweiss Financial NCD opens for subscription from 04 July 2023. the company aims for a base issue size of ₹300 Crores.
About the company
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 230 domestic offices, and three international offices (a total of 233 offices) and employed 5,961 employees as of 31 March 2023. The group comprises 28 subsidiaries as of 31 March 2023. Its total income is ₹ 8,632.6 crore for FY 2023, ₹ 7,212.6 crore for FY 2022, and ₹ 10,954.9 crore for FY 2021 on a consolidated basis. The company’s profit attributable to owners was ₹ 344.2 crore in FY 2023, ₹ 188.8 crore in FY 2022, and ₹ 265.4 crore in FY 2021 on a consolidated basis.
Objectives of the Issue
- For the purpose of repayment /prepayment of interest and principal of existing borrowings of our Company.
- General Corporate Purposes.
Edelweiss Financial NCD Tranche III July 2023 Details
| Issue Open | Jul 4, 2023 – Jul 17, 2023 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 300 Crores |
| Issue Size (Shelf) | ₹ 1,000 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 | Annual and Monthly |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | 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 | NA | 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 | NA | 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 | NA | 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 | 150,000 |
| Non-Institutional | 150,000 |
| HNI | 600,000 |
| Retail | 600,000 |
| Total NCD’s | 1,500,000 |
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
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: efsl3.ncdipo@kfintech.com
Website: www.kfintech.com
Company 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
Allotment Status
Edelweiss Financial Services NCD July 2023 allotment status will be updated on the website of KFin Technologies’ website. Click on this link to get allotment status.
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 is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing
