Edelweiss Financial Services NCD opens for subscription on 08 July 2024. The company aims for a base issue size of ₹100 Crores.
About the company
Edelweiss Financial Services commenced operations as an investment banking firm but has diversified its businesses to include retail and corporate credit, asset management, asset reconstruction, insurance, and wealth management businesses. The company has a pan-India and international network with 244 domestic offices, and three international offices (a total of 247 offices) and employed 6,092 employees as of 31 December 2023, as of the same date, the group comprises 27 subsidiaries and 10 associate companies.
The total income of the company was INR 10,848.85 crores for FY 2021, INR 7,304.59 crores for FY 2022, and INR 8,632.59 crores for FY 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 repayment/prepayment of interest and principal of existing borrowings of the Company.
- General corporate purposes.
Edelweiss Financial Services NCD Details
| Issue Open | July 8, 2024 – July 22, 2024 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 100.00 Crores |
| Issue Size (Oversubscription) | ₹ 100.00 Crores |
| Overall Issue Size | ₹ 200.00 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+/Watch Negative (placed on ‘Rating Watch with Negative Implications’) by CRISIL Ratings Limited. |
| Tenor | 24, 36, 60 and 120 Months |
| Series | Series I to XII |
| 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 | 9.50% | 9.50% | ₹ 1,000 |
| Series 2 | 24 months | Cumulative | NA | 9.50% | ₹ 1,199.10 |
| Series 3 | 36 months | Monthly | 9.57% | 10.00% | ₹ 1,000 |
| Series 4 | 36 months | Annual | 10.00% | 10.00% | ₹ 1,000 |
| Series 5 | 36 months | Cumulative | NA | 10.00% | ₹ 1,331 |
| Series 6 | 60 months | Monthly | 10.04% | 10.51% | ₹ 1,000 |
| Series 7 | 60 months | Annual | 10.50% | 10.49% | ₹ 1,000 |
| Series 8 | 60 months | Cumulative | NA | 10.50% | ₹ 1,647.90 |
| Series 9 | 60 months | Annual | 10.50% | 10.50% | ₹ 1,000 |
| Series 10 | 120 months | Monthly | 10.49% | 11.00% | ₹ 1,000 |
| Series 11 | 120 months | Annual | 11.00% | 10.99% | ₹ 1,000 |
| Series 12 | 120 months | Annual | 11.00% | 10.99% | ₹ 1,000 |
Edelweiss Financial Services NCD Rating
The NCDs proposed to be issued under the Issue have been rated “CRISIL A+/Watch Negative (placed on ‘Rating Watch with Negative Implications’) for an amount of ₹ 1,500 million by CRISIL Limited.
Company Financials
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 42,919.57 | 44,064.27 | 43,187.78 |
| Revenue | 9,601.58 | 8,632.59 | 7,304.59 |
| Profit After Tax | 528.05 | 405.56 | 21.21 |
| Net Worth | 4,425.54 | 6,381.59 | 6,165.29 |
| Reserves and Surplus | 4,377.82 | 6,442.88 | 624.53 |
Edelweiss Financial ServicesNCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 100,000 |
| Non-Institutional | 100,000 |
| HNI | 400,000 |
| Retail | 400,000 |
| Total NCD’s | 1,000,000 |
Company Promoters
- Rashesh Chandrakant Shah
- Venkatchalam A Ramaswamy
- Vidya Rashesh Shah
- Aparna T.C
Edelweiss Financial Services NCD Documents
Edelweiss Financial Services NCD Lead Manager
TRUST INVESTMENT ADVISORS PRIVATE LIMITED
109/110, Balarama, Bandra Kurla Complex,
Bandra (East), Mumbai – 400 051, Maharashtra
Phone: +91 22 4084 5000
Email: projectpragati9.trust@trustgroup.in
Website: www.trustgroup.in
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: 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
Subscription Status (no. of times)
| Date | QIB | NII | HNI | Retail | Total |
|---|---|---|---|---|---|
| 22 Jul 2024 | 0.00 | 1.95 | 1.22 | 2.35 | 1.63 |
| 19 Jul 2024 | 0.00 | 1.46 | 0.92 | 1.84 | 1.25 |
| 18 Jul 2024 | 0.00 | 1.36 | 0.79 | 1.65 | 1.11 |
| 16 Jul 2024 | 0.00 | 1.15 | 0.61 | 1.44 | 0.94 |
| 15 Jul 2024 | 0.00 | 1.13 | 0.55 | 1.28 | 0.84 |
| 12 Jul 2024 | 0.00 | 0.96 | 0.50 | 1.08 | 0.73 |
| 11 Jul 2024 | 0.00 | 0.79 | 0.32 | 0.82 | 0.54 |
| 10 Jul 2024 | 0.00 | 0.70 | 0.15 | 0.64 | 0.38 |
| 9 Jul 2024 | 0.00 | 0.57 | 0.13 | 0.43 | 0.28 |
| 8 Jul 2024 | 0.00 | 0.36 | 0.03 | 0.20 | 0.13 |
Allotment Status
Edelweiss Financial Services NCD July 2024 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 (NCDs) are a better investment option for those seeking 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
