April 10, 2024
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Edelweiss Financial Services NCD April 2024 Details & Guidance
NCD Issue Opens on 8 April 2024
NCD Issue Closes on 23 April 2024
# NCD Guidance is given at the bottom of the post
About the Company:
EFSLwas listed in December 2007. It has a pan-India and international network with 244(two hundred and forty four) domestic offices, and 3 (three) international offices (total 247offices) and employed 6,092employees as at December 31, 2023.
The total income of the Issuer was Rs. 1,08,488.50 million for the year March 31, 2021, Rs. 73,045.91 million for the year March 31, 2022, and Rs. 86,325.91 million for the year March 31, 2023, on a consolidated basis.
Its diversified business strategy has improved the resilience of its business model across economic cycles. It constantly pursue innovation and invest in new ideas, newer products and newer alternate channels of delivery.
Its principal business lines and major subsidiaries engaged in those business lines are as follows:
1. Alternative Asset Management
2. Mutual Fund
3. Asset Reconstruction
4. NBFC
5. Housing Finance
6. General Insurance
7. Life Insurance
Get more details about the company @ https://www.edelweissfin.com/
NCD Promoter:
The company’s promoters are Rashesh Shah, Mr. Venkatchalam Ramaswamy, Ms. Vidya Shah, and Ms. Aparna T.C.
NCD Rating
The NCDs proposed to be issued under this Issue have been rated CRISIL A+/Stable for an amount of Rs 10,000 million by CRISIL Ratings Limited.
| Edelweiss Financial Services NCD April 2024 Detail | |
| Issue Open | April 8, 2024 – April 23, 2024 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 100.00 Crores |
| Overall Issue Size | Rs 200.00 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 | CRISIL A+/Stable by CRISIL Ratings Limited. |
| 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 |
| NCD Allocation Ratio | |
| Category | NCD’s Allocated |
| Institutional | 30% |
| Non-Institutional | 10% |
| HNI | 30% |
| Retail | 30% |
| Total | 100% |
| NCD’s Offered by Category | |
| Category | NCD’s Reserved |
| Institutional | 3,00,000 |
| Non-Institutional | 1,00,000 |
| Retail | 3,00,000 |
| Category 4 | 3,00,000 |
| Total NCD’s | 10,00,000 |
| Edelweiss Financial Services Limited NCD Coupon Rates | ||||||||||||
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | Series 12 |
| Frequency of Interest Payment | Annual | NA | Monthly | Annual | NA | Monthly | Annual | NA | Annual | Monthly | Annual | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months | 60 Months | 120 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 9.00% | NA | 9.20% | 9.60% | NA | 9.67% | 10.10% | NA | 10.10% | 10.00% | 10.45% | 10.45% |
| Effective Yield (% per Annum) | 9.00% | 9.00% | 9.60% | 9.60% | 9.60% | 10.10% | 10.09% | 10.10% | 10.10% | 10.46% | 10.44% | 10.44% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,188.20 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,316.71 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,618.60 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
Edelweiss Financial Services NCD April 2024 Details & Guidance
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
For repayment/prepayment of interest and principal of existing borrowings of the Company.
General corporate purposes.
.
Edelweiss Financial Services Financial Information (Restated)
| Edelweiss Financial Services Limited Financial Information (Restated Consolidated) | ||
| Period Ended | 31 March 2023 | 31 March 2022 |
| 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 |
| Amount in Rs. Crore | ||
Address of the Company
Edelweiss Financial Services Limited
EdelweissHouse
,OffC.S.T.Road
Kalina, Mumbai-400098
NCD Lead Managers
Trust Investment Advisors Private Limited
Nuvama Wealth Management Limited
NCD Registrar
Kfin Technologies Limited
Edelweiss Financial Services NCD April 2024
Subscription Status on April 10, 2024
| Category | Subscription |
| Retail | 0.88 T |
| HNI | 0.7 T |
| Non-Institutional | 0.67 T |
| Institutional | 0.00 T |
| Total | 0.53 T |
Edelweiss Financial Services NCD April 2024
Edelweiss Financial Services NCD April 2024 Guidance:
1. Frequent visitor to the NCD market.
2. Reasonably good profits and borrowing as compared to networth is at appropriate level.
3. NCD ratings have been rated CRISIL A+/Stable
4. Attractive & higher coupon rates.
May Invest.
