Edelweiss Financial Services NCD opens for subscription on 07 October 2024. The company aims for a base issue size of ₹100 Crores.
About the company
Incorporated in November 1995, Edelweiss Financial Services Limited (EFSL), formerly known as Edelweiss Capital Limited is a Mumbai-based investment banking firm and Merchant Banker. Edelweiss provides retail and corporate credit, asset management including mutual fund and alternatives asset management, asset reconstruction, insurance both life and general insurance, and wealth management services through its subsidiaries. Edelweiss Group comprises 27 subsidiaries as of June 30, 2024. As of June 30, 2024, the company has a pan-India and international network with 251 domestic offices, and 3 international offices and employs over 5,889 employees. Edelweiss has been a publicly traded company since 2007 under the symbols NSE: EDELWEISS and BSE: 532922.
Objectives of the Issue
- For repayment /prepayment of interest and principal of existing borrowings of the Company; and
- General Corporate Purposes.
Edelweiss Financial Services NCD Details
| Issue Open | October 7, 2024 – October 18, 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 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
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | Series 12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | NA | Monthly | Annual | NA | Monthly | Annual | NA | Annual | Monthly | Annual | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months | 60 Months | 120 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 9.5% | NA | 9.57% | 10% | NA | 10.04% | 10.5% | NA | 10.5% | 10.49% | 11% | 11% |
| Effective Yield (% per Annum) | 9.5% | 9.5% | 10% | 10% | 10% | 10.51% | 10.49% | 10.5% | 10.5% | 11% | 10.99% | 10.99% |
| Amount on Maturity (In Rs.) | ₹ 1,000 | ₹1,199.1 | ₹ 1,000 | ₹ 1,000 | ₹ 1,331 | ₹ 1,000 | ₹ 1,000 | ₹1,647.9 | ₹ 1,000 | ₹ 1,000 | ₹ 1,000 | ₹ 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 Rs 10,000 million by CRISIL Ratings Limited.
Company Financials
| Period Ended | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 42,919.57 | 44,064.27 |
| Revenue | 9,601.58 | 8,632.59 |
| Profit After Tax | 528.05 | 405.56 |
| Reserves and Surplus | 4,377.82 | 6,442.88 |
| Total Borrowing | 20,248.42 | 2,588.65 |
Edelweiss Financial Services NCD Allocation Ratio
Edelweiss Financial Services NCD Prospectus
Company Promoters
- Mr. Rashesh Chandrakant Shah
- Mr. Venkatchalam A. Ramaswamy
- Ms. Vidya Rashesh Shah
- Ms. Aparna T.C.
NCD Lead Manager
- Trust Investment Advisors Private Limited
- Nuvama Wealth Management Limited
- Tipsons Consultancy Services Private Limited
Edelweiss Financial Services Registrar
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: efsl.ncdipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Company Contact Details
Edelweiss Financial Services Limited
Edelweiss House,
Off C.S.T. Road, Kalina,
Mumbai – 400098
Phone: +91224079 5199
Email: efslncd@edelweissfin.com
Website: https://www.edelweissfin.com/
Edelweiss Financial Services NCD Allotment Status
Nido Home Finance NCD June 2024 allotment status will be available on 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
