Edelweiss Financial Services NCD October 2023 Detailsedelweiss financial NCD

    NCD Issue Opens on   6 October 2023
    NCD Issue Closes on 19 October 2023 


    # NCD Guidance will given at the bottom of the post 

    About the Company:

    After commencing the business as an investment banking firm, the Issuer, through its subsidiaries has diversified its businesses to include credit including retail and corporate credit, asset management including mutual fund and alternatives asset management businesses, asset reconstruction, insurance both life and general insurance business, and wealth management businesses.

    The company believes that its focus on product innovation and a seamless customer experience has helped expand our retail footprint to approximately ~5 million customers. Its research driven approach and consistent ability to capitalise on emerging market trends has further enabled it to foster strong relationships across client segments including corporates, institutions (both domestic and international), high networth individuals and retail clients.

    It has a pan-India and international network with 242(two hundred and forty two) domestic offices, and 3 (three) international offices (total 245offices) and employed 6,062employees as at June 30, 2023.
    The group comprises 28 subsidiaries as of June 30, 2023. The total income of the Issuer was Rs 1,011.50million for the quarter ended June 30, 2023, on a standalone basis. Its profit/(loss) attributable to owners of the Issuer was Rs 10.40 million for the quarter ended June 30, 2023, on a standalone basis.

    Get more details about the company @ https://www.edelweissfin.com/

    NCD Promoter:
    Mr. 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 AA- /Negative (pronounced as CRISIL double A minus rating with a Negative outlook).

    Edelweiss Financial Services NCD October 2023 Detail
    Issue Open October 6, 2023 – October 19, 2023
    Security Name Edelweiss Financial Services Limited
    Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
    Issue Size (Base) Rs 100.00 Crores
    Issue Size (Shelf) 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 AA-/Negative by CRISIL.
    Tenor 24, 36, 60 and 120 Months
    Series Series I to X
    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 10%
    Non-Institutional 10%
    HNI 40%
    Retail 40%
    Total 100%
    NCD’s Offered by Category
    Category  NCD’s Reserved
    Institutional 10,00,000
    Non-Institutional 10,00,000
    Retail 40,00,000
    HNIs 40,00,000
    Total NCD’s 100,00,000
    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
    Frequency of Interest Payment Annual NA Monthly Annual NA Monthly Annual NA Monthly Annual
    Nature 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 120 Months 120 Months
    Coupon (% per Annum) 8.95% NA 9.20% 9.60% NA 9.67% 10.10% NA 10.00% 10.45%
    Effective Yield (% per Annum) 8.94% 8.95% 9.59% 9.59% 9.60% 10.10% 10.09% 10.10% 10.46% 10.44%
    Amount on Maturity (In Rs.) Rs 1,000 Rs 1,187 Rs 1,000 Rs 1,000 Rs 1,317 Rs 1,000 Rs 1,000 Rs 1,619 Rs 1,000 Rs 1,000

    Objects of the Issue
    The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

    1. For the purpose of repayment /prepayment of interest and principal of existing borrowings of the Company.
    2. General Corporate Purposes.



    Company Financials    
    Edelweiss Financial Services Limited Financial Information (Restated Consolidated)
    Period Ended 31-Mar-23 31-Mar-22
    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
    Reserves and Surplus    
    Total Borrowing 2,588.65 2,788.65
    Amount in Rs Crore

    Address of the Company
    Edelweiss Financial Services Limited
    Edelweiss House,
    Off C.S.T. Road, Kalina,
    Mumbai – 400 098
    Email: [email protected]

    NCD Lead Managers
    Trust Investment Advisors Pvt ltd
    Nuvama Wealth Management Ltd
    NCD Registrar
    Kfin Technologies Limited

    Edelweiss Financial Services NCD October 2023
    Red Herring Prospectus

    Analysis & Guidance:
    The company has strong balance sheet and the coupon rates are quite attractive. However, the rating CRISIL double A minus rating with a Negative outlook is a deterrent aspect. Small investment may be made.   

    Edelweiss Financial Services NCD October 2023
    Subscription Status 
    On 6.10.2023 @ 5.00 pm
    Category Subscription 
    Institutional 0.00 T
    Non-Institutional 1.24 T
    HNI 0.11 T
    Retail 0.72 T
    Total 0.46 T

    Edelweiss Financial Services NCD October 2023

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