Edelweiss Financial Services NCD opens for subscription from 06 October 2023. 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 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 242 domestic offices, and three international offices (total 245 offices) and employed 6,062 employees as of 30 June 2023. The group comprises 28 subsidiaries and 10 associate companies as of 30 June 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 2 65.34 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 the purpose of repayment /prepayment of interest and principal of existing borrowings of the Company.
- General Corporate Purposes.
Edelweiss Financial Services NCD Details
| Issue Open | October 6, 2023 – October 19, 2023 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹100 Crores |
| Issue Size (Shelf) | ₹200 Crores |
| Issue Price | ₹1000 per NCD |
| Face Value | ₹1000 for each NCD |
| Minimum Lot Size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | CRISIL AA-/Negative by CRISIL. |
| 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 AA- /Negative (pronounced as CRISIL double A minus rating with a Negative outlook).
Edelweiss Financial Services Financial Summary
| Period Ended | 31 Mar 2023 | 31 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 |
| Total Borrowing | 2,588.65 | 2,788.65 |
Edelweiss Financial Services NCD Allocation Ratio
Company Promoters
- Rashesh Shah
- Venkatchalam Ramaswamy
- Vidya Shah
- Aparna
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: efsl10823.ncdipo@kfintech.com
Website: www.kfintech.com
Edelweiss Contact Details
EDELWEISS FINANCIAL SERVICES LIMITED
Edlweiss 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.
Happy Investing
