Edelweiss's public issue of bonds oversubscribed

The public issue of bonds of ECL Finance, the Non-Banking Finance Company (NBFC) arm of Edelweiss Financial Services has got fully subscribed including the greenshoe option on the second day of the issue.

According to data from stock exchanges the Rs 200 crore issue with a greenshoe option of an additional Rs 200 crore got oversubscribed 2.03 times as on today.

The bonds were offering interest rate of 12.00% per annum with monthly, annual and cumulative options.

The effective yield in monthly option works out to 12.68% for 70 months tenure and under cumulative option, investors will get 2.01 times of the invested amount at maturity.