Edelweiss Financial Services Limited NCD Details

Edelweiss Financial Services Limited NCD Details

Edelweiss Financial Services Limited NCD Details

EFSL is an investment banking firm and also a merchant banker. Edelweiss Financial Services Limited launched a non-convertible debentures scheme on April 1st, 2021. It is a secured, redeemable, Non-Convertible Debentures. 

Features of New NCD:

Issue Open April 1st, 2021 – April 23rd, 2021
Security Name Edelweiss Finance Services Limited
Security Type Secured, Redeemable, Non-Convertible
Issue Size (Base) Rs. 200.00 crores
Shelf (issue size) Rs. 200.00 crores
Issue Price Rs. 1,000 per NCD
Face Value Rs. 1,000 each NCD
Minimum Lot Size 10 NCD
Market Lot 10 NCD
Listing At BSE
Credit Rating ‘Acuite AA’: (Outlook: Negative) by Acuite Ratings & Research Limited and “BWR AA -/Stable (Assigned)” by Brickwork Ratings India Private Limited
Tenor 400 days, 24, 36, 42, 48, 66, and 84 months
Series I to VIII
Payment Monthly, Annual and Cumulative
Basis of Allotment First Come First Serve Basis

The size of the base issue remains aggregating up to Rs. 200 crores by a face value of Rs. 1,000 each and Shelf issue aggregating up to Rs. 200 crores. As per the reports, the price band of the issue is fixed at Rs. 1,000 per NCD with a face value of Rs. 1,000 each bond.

Further, the minimum lot size of the issue is 10 NCD bonds and the market lot of the issue is 10 NCD. Besides, the issued bonds to be listed on BSE Limited.

The Objective of the NCDs:

According to the source, the main object of the issue is for the purpose of onward lending and repayment of interest and principal of existing debts of the company. The last one is for general corporate purposes.

Coupon Rates:

 Series Tenor  Frequency of Interest Payment  Coupon Rate  Effective Yield (%) per Annum
I 36 Months Annually 9.10% 9.09%
II  Cumulative  NA 9.10%
III 60 Months Monthly 9.16% 9.55%
IV Annually 9.55% 9.54%
V  Cumulative  NA 9.55%
VI 120 Months Monthly 9.30% 9.70%
VII Annually 9.70% 9.69%

The NCDs proposed to be issued under this issue have been rated as ‘Acuite AA’: (Outlook: Negative) by Acuite Ratings & Research Limited and “BWR AA -/Stable (Assigned)” by Brickwork Ratings India Private Limited. Moreover, the NCD will manage by Equirus Capital Private Limited.

As of the source, the NCD has reserved for QIB, NII, HNI, and RIIs. It reserved for QIBs and NIIs up to 2,00,000 NCDs each. Further, 8,00,000 bonds reserved for HNIs and 8,00,000 bonds for Retail Individual Investors (RII).

Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Please read the offer document carefully and consult your investment adviser before investing.

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