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Edelweiss Financial Services has issued secured redeemable non-convertible debentures (NCDs). The company aims to raise to Rs.250 crore through this issue including exercising of green shoe option.
The company offers NCDs across 4 maturities – 24 months, 36 months, 60 months and 120 month with payout option ranging from monthly, annually and cumulatively. The effective annual yield for these NCDs spans from 8.94% p.a. to 10.46% p.a.
CRISIL and ICRA have assigned credit rating of A+.
The company use this money to repay their existing loans and company expansion.
Trust Investment Advisors and Nuvama Wealth Management are the lead managers of this NCD issue. The NCDs will be listed on BSE to provide liquidity to the investors.
The issue of this NCD will open on January 09 and close on January 22, 2024.
