Edelweiss Financial Services NCD opens for subscription from 09 January 2024. The company aims for a base issue size of ₹125 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 238 domestic offices, and three international offices (total 241 offices) and employed 6,176 employees as of 30 September 2023. The group comprises 27 subsidiaries and 10 associate companies as of 30 September 2023.
Its total income of the company was INR 10,848.85 crores for the year 31 March 2021, INR 7,304.59 crores for the year 31 March 2022, and INR 8,632.59 crores for the year 31 March 2023 on a consolidated basis. The profit attributable to owners of the company was INR 265.34 crore for the year 31 March 2021, INR 188.78 crore for the year ended 31 March 2022, and INR 344.16 crore for the year 31 March 2023 on a consolidated basis.
Objectives of the Issue
- For onward lending, financing, and repayment of interest and principal of existing borrowings of the Company.
- General corporate purposes.
Edelweiss Financial Services NCD Details
| Issue Open | January 9, 2024 – January 22, 2024 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 125.00 Crores |
| Issue Size (Shelf) | ₹ 250.00 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 A+/Stable by by CRISIL Ratings Limited and “[ICRA] A+ ” by ICRA Limited |
| Tenor | 24, 36, 60 and 120 Months |
| Series | Series I to X |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
Edelweiss Financial Services NCD 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 |
Edelweiss Financial Services NCD Rating
The NCDs proposed to be issued under this Issue have been rated CRISIL A+/Stable by CRISIL Ratings Limited and ICRA A+ (Stable) by ICRA Limited with such ratings considered to have a stable outlook.
Company Financials
| Period Ended | 30 Mar 2023 | 30 Mar 2022 |
| Assets | 44,064.27 | 43,279.78 |
| Revenue | 8,632.59 | 7,212.59 |
| Profit After Tax | 405.56 | 212.07 |
| Net Worth | 5,000.22 | 4,125.99 |
| Reserves and Surplus | – | – |
| Total Borrowing | 2,588.65 | 2,788.65 |
Edelweiss Financial Services NCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 125,000 |
| Non-Institutional | 125,000 |
| HNI | 500,000 |
| Retail | 500,000 |
| Total NCD’s | 1,250,000 |
Company Promoters
- Rashesh Shah
- Mr. Venkatchalam Ramaswamy
- Ms. Vidya Shah
- Ms. Aparna T.C.
Edelweiss Financial Services NCD Lead Manager
- Trust Investment Advisors Private Limited
- Nuvama Wealth Management Limited
Edelweiss Financial Services 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: efsl.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 4079 5199
Email: efslncd@edelweissfin.com
Website: www.edelweissfin.com
Final Thoughts
Non-convertible debentures (NCDs) are a better investment option for those who are looking for a diversified portfolio. investing in Edelweiss Financial Services NCD is purely your personal choice. make a good study and analysis before you make the investment decision.
Happy Investing
