Edelweiss Financial Services Limited (EFSL), today announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been oversubscribed.
The Tranche II Issue has seen a significant demand in the Retail segment with a total collection of ₹ 4,155.27 million.
The Tranche II Issue also saw good interest from its existing NCD investors, demonstrating continued trust and faith in the group.
- Retail category oversubscribed by 2.86 times of the Base Issue Size and 1.43 times of the Tranche II Issue Size
- Total collection of ₹ 4,155.27 million.
- 56.35% of the Tranche II Issue size got subscribed for 60 Months & 120 months tenure, as investors seek to subscribe for longer terms.
“We are very happy with the consistent positive feedback to our NCD issues. The issue has been oversubscribed which shows the faith that investors across categories have in our diversified model and the appetite for high quality financial papers that offer competitive interest rates”.
Rashesh Shah, Chairman, Edelweiss Group said
The Tranche II Issue has seen interest from investors across series and tenures offering annual, monthly, and cumulative interest options with the effective annual yield ranging from 8.84% to 10.09%*.
The NCDs were assigned a “CRISIL AA-/Negative” rating (called “CRISIL double A minus rating with Negative outlook”). as well as “ACUITE AA-/Negative” (pronounced as ACUITE double A minus with negative outlook).
Equirus Capital Private Limited is the issue’s Lead Manager. The Tranche II Issue went live on October 3, 2022, and ended on October 17, 2022. The NCDs would be listed on BSE Limited to offer investors with liquidity.
About Edelweiss Financial Services Limited:
Edelweiss Financial Services Limited (“EFSL”) was founded on November 21, 1995 as Edelweiss Capital Limited and began operations as an investment banking firm after receiving a Category II licence from the Securities and Exchange Board of India.
SEBI then granted Edelweiss Capital Limited a Category I Merchant Banker licence, which became effective on October 16, 2000.
Edelweiss Capital Limited’s name was changed to ‘Edelweiss Financial Services Limited’ on August 1, 2011.
EFSL was listed in December 2007 under the symbols NSE: EDELWEISS and BSE: 532922. Its Corporate Identity Number is L99999MH1995PLC094641.
After beginning as an investment banking firm, EFSL has now diversified its services through its subsidiaries to encompass credit, including retail and corporate credit, asset management, asset reconstruction insurance, including life and general insurance businesses, and wealth management.
Its research-driven, client-centric strategy, as well as its persistent ability to capitalise on emerging market trends, has allowed it to cultivate strong relationships with corporate, institutional (both domestic and international), high-net-worth individuals, and retail clients.
It has a pan-India and international network of approximately 216 domestic offices and three international offices (total 219 offices) in approximately 126 cities in India and three international locations, and employed approximately 5,833 people as of June 30, 2022, excluding EWM and EGIBL offices and employees.
As of June 30, 2022, our group consisted of 29 subsidiaries and 10 affiliate companies.
DISCLAIMER
Subject to market conditions and other considerations, Edelweiss Financial Services Limited (“Company”) proposes a public offering of secured redeemable nonconvertible debentures (“NCDs”) and has filed a Shelf Prospectus dated November 24, 2021 and Tranche II Prospectus dated September 26, 2022 (“Tranche II Prospectus”) (collectively, the “Prospectus”) with the Registrar of Companies, Mumbai, Maharashtra (“RoC”).
Investors considering participating in the Issue should only do so based on the information contained in the Prospectus.
Investors should be aware that investing in NCDs entails a significant level of risk; for further information, please see the Prospectus, particularly the sections labelled “Risk Factors” and “Material Developments,” which begin on page 17 and 170 of the Tranche II Prospectus, respectively.
Capitalized terms that are not defined below will have the same meaning as defined in the Tranche II Prospectus dated September 26, 2022.
DISCLAIMER CLAUSE OF BSE:
It should be clearly understood that the licence granted by BSE does not imply or imply that the Prospectus has been cleared or approved by BSE, nor does it certify the correctness or completeness of any of the Prospectus’ contents.
Investors are urged to consult the Prospectus for the entire text of the BSE’s Disclaimer Clause.
DISCLAIMER CLAUSE OF USE OF BSE ELECTRONIC PLATFORM:
It is clearly understood that the permission granted by the BSE to use their network and software of the Online system should not be construed as compliance with various statutory requirements approved by the Exchange; nor does it warrant, certify, or endorse the correctness or completeness of any of the compliance with the statutory and other requirements; nor does it take any responsibility for the financial or other soundness of any of the compliance with the statutory and other requirements.
DISCLAIMER CLAUSE OF CRISIL
A CRISIL Ratings rating reflects CRISIL Ratings’ current view on the possibility of prompt payment of the obligations under the rated instrument and does not constitute a CRISIL Ratings audit of the rated firm.
CRISIL Ratings bases its ratings on information provided by the issuer or collected from credible sources.
CRISIL Ratings does not guarantee the completeness or accuracy of the information used to calculate the rating. CRISIL Ratings’ ratings are not recommendations to purchase, sell, or hold the rated instrument; they do not comment on the market price or suitability for a specific investment.
CRISIL Ratings has a policy of keeping all of its ratings under review, and ratings are updated when circumstances warrant. CRISIL Ratings accepts no responsibility for inaccuracies and expressly says that it has no financial liability to subscribers/users/transmitters/distributors of its ratings.
The criteria for CRISIL Ratings are freely available to the public on the website www.crisilratings.com. Other business transactions may exist between CRISIL Ratings and the company/entity.
DISCLAIMER STATEMENT OF ACUITÉ RATINGS & RESEARCH LIMITED
