Edelweiss Financial Services raises over Rs 240 cr through bonds

Edelweiss Financial Services Ltd (EFSL) on Monday said it has raised over Rs 240 crore through the issuance of non-convertible debentures (NCDs).

The company in a release said its public issue of its secured redeemable NCDs has been oversubscribed.

"The issue successfully mobilised over Rs 240 crore with the base issue as well as the green shoe option fully subscribed," the company said.

The retail category of the issue is being oversubscribed by 2.27 times with a total collection of around Rs 181 crore. The Issue received about 10,647 applications from across the country.

The company said the above subscription figures are based on the subscription figures available on the electronic platform of the BSE as on January 4, 2021.

"We are delighted with the great response to the NCD issue. The issue has been oversubscribed and we are closing it much earlier than planned," Edelweiss Group Chairman Rashesh Shah said in the release.

The issue opened on December 23, 2020, and the company has announced an early closure on January 4, 2021.

The NCDs will be listed on the BSE.