Edelweiss Financial Services to raise Rs 400 cr via public issue of NCDs

Edelweiss Financial Services announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of a face value of Rs 1,000 each, amounting to Rs 200 crore (Base Issue), with an option to retain over-subscription up to Rs 200 crore aggregating to a total of Rs 400 crore (Issue).

There are 7 Series of NCDs carrying fixed coupon and having tenures ranging from 36 months, 60 months and 120 months with annual, monthly and cumulative interest option. Effective annual yield for NCDs having fixed interest rates ranges from 9.09% to 9.70%.

At least 75% of the funds raised through this Issue will be used for the purpose of repayment /prepayment of interest and principal of existing borrowings of the Company and the balance is proposed to be utilized for general corporate purposes.

Powered by Capital Market - Live News