Edelweiss Financial Services NCD April 2024
Edelweiss Financial Services NCD
| 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 |
Incorporation and Services
- Edelweiss Financial Services Limited (EFSL) was incorporated in November 1995 in Mumbai.
- The company offers a range of financial services including retail and corporate credit, asset management, asset reconstruction, insurance, and wealth management through its subsidiaries.
- Edelweiss Group comprises 28 subsidiaries as of June 30, 2023.
NCD Allocation Ratio
Category  |
NCD’s Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 10% |
| HNI | 40% |
| Retail | 40% |
Network and Employees
- Edelweiss has a pan-India and international network with 242 domestic offices and 3 international offices.
- The company employs over 6,062 employees as of June 30, 2023.
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 |
Public Trading and Ratings
- Edelweiss has been publicly traded since 2007 under the symbols NSE: EDELWEISS and BSE: 532922.
- 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.
Company Promoters
- The company’s promoters are Rashesh Shah, Mr. Venkatchalam Ramaswamy, Ms. Vidya Shah, and Ms. Aparna T.C..
Financial Performance
- Edelweiss Financial Services Limited’s revenue increased by 19.69% and profit after tax (PAT) rose by 91.23% between the financial year ending with March 31, 2023, and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 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 ₹ Crore | ||
Objects of the Issue
- The net proceeds from the issue are intended to be utilized for the repayment/prepayment of interest and principal of existing borrowings of the Company, and for general corporate purposes
