Stocks

Edelweiss Fin Services up nearly 4 per cent after subsidiary raises funds

PTI New Delhi | Updated on November 25, 2019 Published on November 25, 2019

Edelweiss Financial Services shares rallied nearly 4 per cent on Monday after the NBFC arm of Edelweiss Group raised Rs 515 crore through non-convertible debentures.

On the BSE, the stock rose 3.87 per cent to Rs 127.30. The scrip was trading at Rs 127.50, up 3.78 per cent, on the NSE.

ECL Finance Ltd (ECLF), the NBFC arm of Edelweiss Group, raised Rs 515 crore in tranche II of a public issue of secured redeemable non-convertible debentures, Edelweiss Financial Services said in a BSE filing on Sunday.

Read more: ECL Finance mops up ₹515 cr via NCD issue

The tranche II issue has raised over Rs 500 crore, with the retail, HNI and corporate categories being over-subscribed, it added.

“The public issue of secured redeemable non-convertible debentures by ECL Finance Ltd (ECLF), the NBFC arm of the Edelweiss Group, has been fully subscribed. The Tranche II issue has mobilised over Rs 515 crore.”

ECL Finance extends corporate and retail loan products, including structured collateralised credit, wholesale mortgages, SMEs and others, ESOP and margin funding loans, loans against property and agri credit.

Published on November 25, 2019
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