₹ 4,000 million Public NCD issue of Edelweiss Financial Services Limited Oversubscribed

Edelweiss Financial Services Limited ("EFSL"), today announced that its public issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been oversubscribed.

The issue has seen a significant demand in the Retail segment with a total collection of ₹ 2,791.06 million. The issue also saw good interest from its existing NCD investors, demonstrating continued trust and faith in the group.

Commenting on the success Rashesh Shah, Chairman & Managing Director, EFSL said "We are delighted with the encouraging response to our NCD issue. 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."

The NCD issue has seen interest from investors across series and tenures offering annual, monthly, and cumulative interest options with the effective annual yield ranging from 9.09% to 9.70%*.

The NCDs have been rated "Acuite AA (read as ACUITE double A) (Outlook: Negative)" for an amount of ₹ 4,000 million by Acuite Ratings and Research Limited and "[ICRA]A+ (Negative)" for an amount of ₹ 4,000 million by ICRA Limited.

Equirus Capital Private Limited is the Lead Manager to the NCD issue. The Issue opened on August 17, 2021 and closed on September 6, 2021. The NCDs will be listed on BSE Limited to provide liquidity to the investors.

Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs. 80 as compared to the previous close of Rs. 80.05. The total number of shares traded during the day was 100911 in over 1131 trades.

The stock hit an intraday high of Rs. 81.55 and intraday low of 79.65. The net turnover during the day was Rs. 8119375.

Source : Equity Bulls

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