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Edelweiss Financial Services raises Rs 400 crore through NCDs - Business Standard

Edelweiss Financial Services Ltd (EFSL) Monday said it has raised Rs 400 crore through issuance of non-convertible debentures (NCDs).

The company said the issue has seen significant demand in the retail segment with a total collection of Rs 279.106 crore.

Almost 50 per cent of the total issue size got subscribed for five-year and 10-year tenure, a company release said.

"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," EFSL Chairman and Managing Director Rashesh Shah said in the release.

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 per cent to 9.70 per cent, the release.

The NCDs have been rated Acuite AA (read as ACUITE double A) (Outlook: Negative) by Acuite Ratings and Research and [ICRA]A+ (Negative) by ICRA Limited".

The issue opened on August 17, 2021 and closed on September 6, 2021. The NCDs will be listed on BSE.

(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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