Edelweiss Financial Services Issues 20 Lakh NCDs

The Debentures Fund Raising Committee of Edelweiss Financial Services on Saturday approved the public issue of 20,00,000 secured, redeemable, non-convertible debentures, the company announced through an exchange filing.

The NCDs will have a face value of Rs 1,000 each for an amount up to Rs 1,000 million with a green shoe option of up to Rs 1,000 million aggregating to Rs 2,000 million.

The NCDs are proposed to be listed on BSE. BSE has been appointed as the Designated Stock Exchange. The NCDs shall be listed within six Working Days from the date of Issue Closure.

CRISIL has given the NCDs a rating of CRISIL AA-/ Negative.

The NCDs have different tenures ranging from 24 months to 120 months and will have an effective yield between 8.94 per cent and 10.44 per cent depending on the tenor.

Edelweiss Financial Service shares

The shares of Edelweiss Financial Services on Friday closed at Rs 52.60, up by 0.093 per cent.