- Early closure of the issue, a week ahead of scheduled Tranche I Issue closure, on account of over subscription
- The retail category oversubscribed 1.6 times the Base Issue Size and 3.2 times the Tranche I Issue Size
- Total collection of ₹ 4,700.08 million
- Out of the total subscription, 42.03% subscription is in 60 months tenure, as investors seek to subscribe for the longer term
Edelweiss Financial Services Limited (“EFSL“), today announces that the public issue of Secured Redeemable Non-Convertible Debentures (“NCDs“) has been oversubscribed. In comparison to the reserved portion of Rs. 2,560.76 million, the Tranche I Issue has received a significant amount of subscriptions from retailers. 800 million for the base size of the issue. Existing NCD investors showed continued confidence in the group by showing strong interest in the Tranche I Issue. In place of the scheduled Tranche I Issue closure on January 23, 2023, EFSL decided to close the issue earlier on January 16, 2023.
Rashesh Shah, Chairman of Edelweiss Group, said, “We are overwhelmed with the trust our investors have in us as shown by the oversubscription and early closure of the issue.” He was speaking about the Tranche I Issue’s success. Investors’ confidence in our diversified model and interest in our debt offerings are demonstrated by this.
Investors from all series and tenures have expressed an interest in the Tranche I Issue, which offers annual, monthly, and cumulative interest options with an effective annualized yield of 8.99% to 10.46%* per annum.
Crisil Ratings Limited has given the NCDs a rating of “CRISIL AA-/Negative,” which is spelled “CRISIL double A minus rating with Negative outlook,” and Acuité Ratings & Research Limited has given the NCDs a rating of “ACUITE AA-/Negative,” which is spelled “ACUITE double A minus rating.”
The issue’s primary manager is Equirus Capital Private Limited. From January 3, 2023 to January 16, 2023**, the Tranche I Issue was open. On BSE Limited, the NCDs will be listed.
About Edelweiss Financial Services Limited:
Edelweiss Financial Services Limited (“EFSL”), was incorporated on November 21, 1995 under the name Edelweiss Capital Limited and started operations as an investment banking firm after receipt of a Category II license from SEBI. Edelweiss Capital Limited subsequently received a Category I Merchant Banker license from SEBI with effect from October 16, 2000. The name of Edelweiss Capital Limited was changed to ‘Edelweiss Financial Services Limited’ with effect from August 1, 2011.
The equity shares of EFSL were listed in December 2007 under the symbol (NSE: EDELWEISS) and (BSE: 532922). Its Corporate Identity Number is L99999MH1995PLC094641.
After commencing the business as an investment banking firm, EFSL through its subsidiaries has now diversified its businesses to include credit including retail and corporate credit, asset management, asset reconstruction insurance including life and general insurance businesses, and wealth management, which are conducted through its subsidiaries and associates. Our research driven approach and consistent ability to capitalise on emerging market trends has enabled it to foster strong relationships across client segments including corporate, institutional (both domestic and international), high net worth individuals and retail clients. It has a pan-India and international network with approximately 237 domestic offices, and three international offices (total 240) and employed approximately 5,955 employees as at September 30, 2022, excluding EWM offices and employees. Our group comprises 28 subsidiaries and 10 associate companies as at September 30, 2022.
