Edelweiss Financial Services Limited ("EFSL"), announced that the Issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been successfully completed and the company has allotted 45,62,472 NCDs of the face value of Rs. 1,000 each, amounting to ₹ 4,562.47 million. EFSL had decided to do an early closure of the Issue on December 22, 2021 against the scheduled closure on December 27, 2021.
The Issue has seen a significant demand in the Retail and HNI segment with a total collection of ₹ 3,619.71 million. The Issue also saw good interest from the existing investors, demonstrating continued trust and faith in the Edelweiss group.
Commenting on the success of the Issue, Rashesh Shah, Chairman, Edelweiss Group said "The consistent positive feedback to our NCD issues reassures us of the faith bestowed by the investors. The subscription to the Issue was very good and we closed it earlier than planned."
The Issue has seen interest from investors across series and tenures offering annual, monthly and cumulative interest options with the effective annual yield ranging from 8.75% to 9.70% per annum.
The NCDs have been rated "CRISIL AA-/Negative" (pronounced as CRISIL double A minus rating with Negative outlook) and "ACUITE AA/Negative" (pronounced as ACUITE double A rating with Negative outlook).
Equirus Capital Private Limited acted as the Lead Manager to the Issue. The NCDs are listed on BSE Limited.
Shares of Edelweiss Financial Services Limited was last trading in BSE at Rs. 71.90 as compared to the previous close of Rs. 70.10. The total number of shares traded during the day was 243994 in over 2165 trades.
The stock hit an intraday high of Rs. 72.60 and intraday low of 70.05. The net turnover during the day was Rs. 17396242.00.