Edelweiss Retail Finance plans to raise funds up to Rs.500 crore through a public issue of non-convertible debentures (NCDs). The retail lending arm of Edelweiss Group is offering an attractive yield ranging from 8.75% to 9.25% pa. The NCDs also offer a tenure varying from 3 years to 10 years, with an option to receive interest monthly or annually.
The issue is currently open for subscription and will close on March 22, 2018.
IFAs will get brokerage of upto 1.52% depending on the category of investors. For individual investors investing less than Rs.10 lakh, IFAs will get commission of 1.12%, 1.32%, and 1.52% for three, five and 10 years respectively while for the application exceeding Rs.10 lakh, you can get commission of 1.04%, 1.20% and 1.36% if investors invest for three, five and 10 years respectively. In addition, you will get a special incentive of Rs.50 per application if you go online.
Here are the other key attributes of the NCDs:
Application size: The company plans to raise Rs.250 crore with an option to retain an additional Rs.250 crore if the issue oversubscribes.
Credit Ratings: CRISIL and ICRA have assigned a rating of AA (Double A).
Listing: The issue will be listed on both BSE and NSE.
