Edelweiss Financial Services’ Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) subscription will begin on October 7, 2024. Edelweiss Financial Services will issue NCDs with interest rates of 10.99%. Edelweiss Financial Services NCD is rated CRISIL A+/Watch Negative by CRISIL Ratings Limited. NCDs have terms of 24, 36, 60, and 120 months.
Edelweiss Financial Services NCD October 2024 Detail
| Issue Open | October 7, 2024 |
| Issue Close | October 18, 2024 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 100.00 Crores |
| Overall Issue Size | Rs 200.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
Edelweiss Financial Services NCD Allocation Ratio
| Category | NCD’s Allocated |
| Institutional | 10% |
| Non-Institutional | 10% |
| HNI | 40% |
| Retail | 40% |
Objective of the NCD
The profits of the NCD issue are targeted for the following purposes:
- Repayment/Prepayment of Existing Borrowings: The cash will be used to repay or prepay the interest and principal on the company’s existing loans.
- General Corporate Purpose: A portion of the funds will be used for general business expenses, maintaining the company’s seamless functioning.
Edelweiss Financial Services Financials
Edelweiss Financial Services Limited’s revenue climbed by 11% and profit after tax (PAT) increased by 30% during the fiscal years ended March 31, 2024 and March 31, 2023.
| FY 2024 | |
| Assets | 42,919.57 |
| Revenue | 9,601.58 |
| Profit After Tax | 528.05 |
| Reserves and Surplus | 4,377.82 |
About Company – Edelweiss Financial Services
Edelweiss Financial Services was founded in 1995 and commenced operations as an investment banking firm after receiving a Category II license from SEBI. SEBI subsequently granted Edelweiss Capital Limited a Category I commercial banking license, which became effective on October 16, 2000.
The company has expanded its operations through its subsidiaries and is now involved in a variety of businesses such as lending (both retail and corporate), asset management (mutual funds and alternative asset management), asset realization, insurance (life and general insurance), and wealth management.
