Advertisement

Business

Updated on: Wednesday, August 11, 2021, 11:00 PM IST

Edelweiss Financial announces Rs 400 cr public issue of secured redeemable NCDs

ANI
Edelweiss Financial Services Ltd (EFSL) on Wednesday announced the public issue of secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each aggregating to a total of Rs 400 crore/ Representational image |

Edelweiss Financial Services Ltd (EFSL) on Wednesday announced the public issue of secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each aggregating to a total of Rs 400 crore/ Representational image |

Advertisement

Edelweiss Financial Services Ltd (EFSL) on Wednesday announced the public issue of secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each aggregating to a total of Rs 400 crore.

There are eight series of NCDs carrying fixed coupon and having 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 9.7 per cent.

At least 75 per cent of the funds raised through the issue will be used for the purpose of repayment or prepayment of interest and principal of existing borrowings of the company. The balance is proposed to be utilised for general corporate purposes.

Equirus Capital is the lead manager of the NCD issue. The issue opens on August 17 and closes on September 6 with an option of early closure. The NCDs will be listed on BSE Ltd to provide liquidity to the investors.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Wednesday, August 11, 2021, 11:00 PM IST
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement