Edelweiss Financial Services Limited NCD Opens Today
Edelweiss Financial Services Limited started its operations as an investment banking firm incorporated in 1995 after receipt of a Category II license from SEBI. Later, the company became a Category I Merchant Banker after acquiring the license for the same from SEBI.
Edelweiss Financial Services emphasize immensely on product innovation, providing a seamless customer experience, and following a research-driven approach. These characteristics have enabled the company’s operations to increase to about 5 million customers, this is also giving it a strong pan-India as well as international presence.
The subsidiaries of the company provide services like retail and corporate credit, mutual fund and alternatives asset management businesses, asset reconstruction, insurance for both life and general insurance business, and wealth management businesses.
Edelweiss Financial Services NCD January 2023 Detail
| Issue Open | Jan 3, 2023 – Jan 23, 2023 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 200.00 Crores |
| Issue Size (Shelf) | Rs 1,000.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | CRISIL AA-/Negative by CRISIL Ratings Limited and ACUTE AA-/ Negative by Acuité Ratings & Research Limited |
| Tenor | 24, 36, 60 and 120 Months |
| Series | Series I to X |
| Payment Frequency | Annual, Cumulative and Monthly |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustees | BEACON TRUSTEESHIP LIMITED |
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | |
| Frequency of Interest Payment | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual |
| Nature | Secured | |||||||||
| Tenor | 24 months | 24 months | 36 months | 36 months | 36 months | 60 months | 60 months | 60 months | 120 months | 120 months |
| Coupon Rate (Retail) | 9.00% | NA | 9.20% | 9.60% | NA | 9.67% | 10.10% | NA | 10.00% | 10.45% |
| Effective Yield (% per Annum) | 8.99% | 9.00% | 9.59% | 9.59% | 9.60% | 10.10% | 10.09% | 10.10% | 10.46% | 10.44% |
| Amount on Maturity | Rs 1,000 | Rs 1,188.40 | Rs 1,000 | Rs 1,000 | Rs 1,317.00 | Rs 1,000 | Rs 1,000 | Rs 1,618.30 | Rs 1,000 | Rs 1,000 |
NCD Rating
The NCDs proposed to be issued under the Issue have been rated “CRISIL AA-/Negative for an amount of ₹ 10,000 million by CRISIL Ratings Limited and “ACUITE AA-/ Negative for an amount of ₹ 10,000 million by Acuité Ratings & Research Limited.
Company’s Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
| 31-Mar-20 | 54277.54 | 9513.31 | -2043.77 |
| 31-Mar-21 | 46350.01 | 9346.35 | 253.92 |
| 31-Mar-22 | 43187.78 | 6911.4 | 212.07 |
| Amount in ₹ Crore |
Objects of the Issue
The company proposes to utilize the funds which are being raised through the Issue:
- For the purpose of repayment /prepayment of interest and principal of existing borrowings of our Company – 75% of the amount raised and allotted in the Issue.
- General Corporate Purposes – 25% of the amount raised and allotted in the Issue.