Edelweiss Financial Services’ has announced a Rs 250-crore public issue of NCDs, with yield of up to 10.46 per cent per annum. The NCDs carry CRISIL A+/Stable and ICRA A+ (rating watch with negative implication). The issue, which will open on January 9 and close on January 22, offers ten series with fixed coupons and tenures ranging from 24 to 120 months.
At least 75 per cent of the funds raised will be used for repayment/ prepayment of existing borrowings, with the balance allocated for general corporate purposes not exceeding 25 per cent of the raised amount. Investors holding previously issued debentures/ bonds or equity shares of the company could receive an additional incentive of up to 0.20 per cent p.a. Trust Investment Advisors Pvt Ltd and Nuvama Wealth Management Ltd are the lead managers, and the NCDs will be listed on BSE Ltd for liquidity.
Nuvama Wealth Management Ltd, deemed an associate of the issuer, will market the issue without issuing a due diligence certificate.
The shares were down 0.17 per cent at Rs 78.57 at 12.24 pm on the BSE