Stocks

Edelweiss Fin Services eyes ₹400 cr via NCD

Our Bureau Mumbai | Updated on August 11, 2021

Edelweiss Financial Services plans to raise ₹400 crore through issue of Secured Redeemable Non-Convertible Debentures. The company will issue NCDs with face value of ₹1,000 each, amounting to ₹2,00 crore with an option to retain over-subscription up to ₹200 crore aggregating to a total of ₹400 crore.

The NCDs in eight series of will carry fixed coupon and have a tenure of 36 months, 60 months and 120 months with annual, monthly and cumulative interest option. Effective annual yield for NCDs ranges from 9.09 per cent to 9.70 per cent.

About 75 per cent of the funds raised through this issue will be used for repayment of interest and principal of existing borrowings of the company and the balance is proposed to be utilised for general corporate purposes, subject to such utilisation not exceeding 25 per cent of the amount raised in the issue,

Published on August 11, 2021

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