06-Apr-2024
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Edelweiss Financial Services Limited NCD issue will open on Monday April 8, 2024 and will close on Tuesday, April 23, 2024. It is a Secured, Redeemable, Non-Convertible Debentures. The overall issue size is of Rs 200 crores. Edelweiss Financial Services NCD issue price is Rs 1000 per NCD and face value is Rs 1000 each NCD. The minimum lot size is 10 NCD. The basis of allotment is first come and first serve basis. The listing is at (Bombay Stock Exchange) BSE and the tenor is of 24, 36, 60 and 120 months. The lead manager of Edelweiss Financial Services Limited NCD is Trust Investment Advisors Private Limited and Nuvama Wealth Management Limited. The registrar for this NCD is Kfin Technologies Limited.
About Edelweiss Financial Services Limited
Edelweiss Financial Services was incorporated in 1995, is a Mumbai based investment banking firm and Merchant Banker. Company provides retail and corporate credit, asset management services including mutual fund and alternatives asset management, asset reconstruction. They also provide life insurance and general insurance services. Moreover, the company is a leading player in providing wealth management services through its subsidiaries. Edelweiss is one of India’s leading diversified financial services conglomerates, they provide a broad range of financial products and services. Edelweiss Housing Finance is now a Nido Home Finance, they provide home financing solutions and turn the dreams of many Indians into reality. As of June 2023, Edelweiss Group comprises 28 subsidiaries as of June 30, 2023.
Objectives of the Edelweiss Financial Services NCD
The net amount received from the NCD issue will be utilised for the repayment or prepayment of the principal and interest of the existing borrowings of the company. Other than this, general corporate purposes will be fulfilled.
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Financial Performance of Edelweiss Financial Services Limited (In Rs Crore)
Edelweiss Financial Services Limited posted a revenue of Rs 8,632.59 crore for the period ending on 31 March 2023. The company’s revenue increased by 19.69% and PAT rose by 91.23% between the FY ending with 31st March 2023 and 31st March 2022.
| Period Ended | 31-Mar-23 | 31-Mar-22 |
| Assets | 44,064.27 | 43,279.78 |
| Revenue | 8,632.59 | 7,212.59 |
| Profit After Tax | 405.56 | 212.07 |
| Net Worth | 5,000.22 | 4,125.99 |
| Total Borrowing | 2,588.65 | 2,788.65 |
Important Details of Edelweiss Financial Services Limited NCD 2024
| Issue Open | April 8, 2024 - April 23, 2024 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures |
| Issue Size (Base) | Rs 100 Crores |
| Issue Size (Oversubscription) | Rs 100 Crores |
| Overall Issue Size | Rs 200 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 | A+/Stable by CRISIL |
| Tenor | 24, 36, 60 and 120 months |
| Series | Series I to XII |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
Coupon Rates of Edelweiss Financial Services Limited NCD 2024
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | |
| Frequency of Interest Payment | Annual | NA | Monthly | Annual | NA | Monthly |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months |
| Coupon | 9.00% | NA | 9.20% | 9.60% | NA | 9.67% |
| Effective Yield | 9.00% | 9.00% | 9.60% | 9.60% | 9.60% | 10.10% |
| Amount on Maturity (Rs) | Rs 1,000 | Rs 1,188.20 | Rs 1,000 | Rs 1,000 | Rs 1,316.71 | Rs 1,000 |
| Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | Series 12 | |
| Frequency of Interest Payment | Annual | NA | Annual | Monthly | Annual | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 60 Months | 60 Months | 60 Months | 120 Months | 120 Months | 120 Months |
| Coupon | 10.10% | NA | 10.10% | 10.00% | 10.45% | 10.45% |
| Effective Yield | 10.09% | 10.10% | 10.10% | 10.46% | 10.44% | 10.44% |
| Amount on Maturity (Rs) | Rs 1,000 | Rs 1,618.60 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 |
NCD Rating
The NCDs Issue have been rated CRISIL A+/Stable by CRISIL Ratings Limited.
Lead Manager of Edelweiss Financial Services Limited NCD
The lead manager for the Edelweiss Financial Services Limited NCD is Trust Investment Advisors Private Limited and Nuvama Wealth Management Limited.
How to Apply for Edelweiss Financial Services Limited NCD?
Wait for the NCD to open for subscription, then click here to apply for this NCD online and in a hassle free way.
How to Check the Allotment Status of Edelweiss Financial Services Limited NCD?
The Edelweiss Financial Services Limited NCD 2024 registrar isKfin Technologies Limited. To check your allotment status, please click here.
FAQs
1. When will the Edelweiss Financial Services Limited NCD be open for subscription?
Edelweiss Financial Services Limited NCD issue will open on Friday April 8, 2024 and will close on Tuesday, April 23, 2024.
2. What is the issue size and price of the NCD?
Edelweiss Financial Services NCD issue size is of Rs 200 crores. The issue price is Rs 1000 per NCD and face value is Rs 1000 each NCD. The minimum lot size is 10 NCD.
3. What are the main objectives of the Edelweiss Financial Services Limited NCD?
The net amount received from the NCD issue will be utilised for the repayment or prepayment of the principal and interest of the existing borrowings of the company. Other than this, general corporate purposes will be fulfilled.
4. How has Edelweiss Financial Services Limited performed financially?
Edelweiss Financial Services Limited posted a revenue of Rs 8,632.59 crore for the period ending on 31 March 2023. The company’s revenue increased by 19.69% and PAT rose by 91.23% between the FY ending with 31st March 2023 and 31st March 2022.
5. What types of financial services does Edelweiss Financial offer?
Company provides retail and corporate credit, asset management services including mutual fund and alternatives asset management, asset reconstruction. They also provide life insurance and general insurance services.
6. How can I apply for the Edelweiss Financial Services Limited NCD ?
Wait for the NCD to open for subscription, then click here to apply for the Edelweiss Financial Services Limited NCD.
7. How can I check the allotment status of the NCD?
The Edelweiss Financial Services Limited NCD registrar is Kfin Technologies Limited. To check your allotment status, please click here.
8. What are the tenors and coupon rates for the NCD?
The NCDs offer tenors of 24, 36, 60 and 120 months, with coupon rates varying from 9% to 10.45% from Series 1 to Series 12.
9. Who is the lead manager for the Edelweiss Financial Services Limited NCD?
Trust Investment Advisors Private Limited and Nuvama Wealth Management Limited is the lead manager for this NCD issue.
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