October 8, 2023
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Edelweiss Financial Services NCD October 2023 Details
NCD Issue Opens on 6 October 2023
NCD Issue Closes on 19 October 2023
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# 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. APPLY NOW
| 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 |
