Money & Bankin

Edelweiss Fin Services raises over ₹450 cr NCDs

Our Mumbai Burea Mumbai | Updated on January 03, 2022

Almost 46 per cent of Edelweiss’ total issue size got subscribed for 5-year and 10-year tenures   -  istock.com

The issue saw significant demand in retail and high net worth investor segments, with a collection of ₹362 crore

Edelweiss Financial Services has raised ₹450 crore through issue of about 45.62 lakh non-convertible debentures of the face value of ₹1,000 each.

EFSL had decided to do an early closure of the issue on December 22 against the scheduled closure on December 27.

The issue has seen a significant demand in the retail and high net worth investor segments with a collection of ₹362 crore.

Edelweiss Financial Services to raise up to ₹500 crore

Of over 16,000 applications received, almost 46 per cent of the total issue size got subscribed for 5-year and 10-year tenures, as investors seek to subscribe for the long term.

Investor interest

Rashesh Shah, Chairman, Edelweiss Group, said the issue saw interest from investors across series and tenures offering annual, monthly and cumulative interest options, with the effective annual yield ranging from 8.75 per cent to 9.70 per cent per annum.

Our target is to grow every business at twice the industry growth rate, says Rashesh Shah of Edelweiss Financial

Edelweiss Financial Services started operations as an investment banking firm after receipt of a Category II licence from SEBI. Edelweiss Capital subsequently received a Category I Merchant Banker licence from Sebi with effect from October, 2000. The name of Edelweiss Capital was changed to ‘Edelweiss Financial Services on August 1, 2011.

Published on January 03, 2022

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