Edelweiss Financial Services Limited (EFSL), today announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been oversubscribed. The Tranche II Issue has seen a significant demand in the Retail segment with a total collection of ₹ 4,155.27 million. The Tranche II Issue also saw good interest from its existing NCD investors, demonstrating continued trust and faith in the group.
Commenting on the success of the Issue, Rashesh Shah, Chairman, Edelweiss Group said "We are very happy with the consistent positive feedback to our NCD issues. The issue has been oversubscribed which shows the faith that investors across categories have in our diversified model and the appetite for high quality financial papers that offer competitive interest rates".
The Retail category is oversubscribed by 2.86 times of the Base Issue Size and 1.43 times of the Tranche II Issue Size. 56.35% of the Tranche II Issue size got subscribed for 60 Months & 120 months tenure, as investors seek to subscribe for longer terms.
The Tranche II Issue has seen interest from investors across series and tenures offering annual, monthly, and cumulative interest options with the effective annual yield ranging from 8.84% to 10.09%*.
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 minus with negative outlook).
Equirus Capital Private Limited is the Lead Manager of this NCD issue. The Tranche II Issue opened on October 3, 2022 and closed on October 17, 2022. The NCDs will be listed on BSE Limited to provide liquidity to the investors.
Shares of Edelweiss Financial Services Limited was last trading in BSE at Rs. 59.50 as compared to the previous close of Rs. 60.65. The total number of shares traded during the day was 123307 in over 1144 trades.
The stock hit an intraday high of Rs. 61.40 and intraday low of 59.25. The net turnover during the day was Rs. 7395038.00.