Edelweiss Financial Services Raises Over Rs 456 Crore Via NCDs

Edelweiss Financial Services Ltd (EFSL) on Monday said it has raised Rs 456.24 crore through the issuance of non-convertible debentures (NCDs).

The company has allotted 45,62,472 NCDs of the face value of Rs 1,000 each, a press release said.

The non-bank lender had decided to do an early closure of the issue on December 22, 2021, as against the scheduled closure on December 27, 2021, the release said.

"The consistent positive feedback to our NCD issues reassures us of the faith bestowed by the investors. The subscription to the issue was very good and we closed it earlier than planned," Edelweiss Group Chairman Rashesh Shah said.

Almost 46 per cent of the total issue size got subscribed for five-year and 10-year tenure.

The bond issue witnessed significant demand in the retail and high net-worth individuals (HNI) segment with a total collection of Rs 361.97 crore.

It 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, the release said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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