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Edelweiss Financial Services Limited NCD Overview
| Issue Open | January 9, 2024 – January 22, 2024 |
| Security Name | Edelweiss Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 125.00 Crores |
| Issue Size (Shelf) | Rs 250.00 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 by CRISIL Ratings Limited and “[ICRA] A+ ” by ICRA Limited |
| Tenor | 24, 36, 60 and 120 Months3. Invest |
| Series | Series I to X |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
Incorporation and Operations
Edelweiss Financial Services Limited (EFSL) commenced operations in November 1995 as a Mumbai-based investment banking firm and Merchant Banker. The company’s services span retail and corporate credit, asset management (mutual fund and alternatives asset management), asset reconstruction, life and general insurance, and wealth management through its 28 subsidiaries as of June 30, 2023.
Network and Manpower
With a widespread presence, Edelweiss operates through 242 domestic offices, alongside 3 international offices, employing over 6,062 individuals as of June 30, 2023.
NCD Allocation Ratio
Category  |
NCD’s Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 10% |
| HNI | 40% |
| Retail | 40% |
Stock Exchange Listing
Since 2007, Edelweiss has been publicly traded under the symbols NSE: EDELWEISS and BSE: 532922.
NCD Rating
The proposed NCDs (Non-Convertible Debentures) in this issue have received ratings from CRISIL A+/Stable and ICRA A+ (Stable), reflecting a stable outlook according to CRISIL Ratings Limited and ICRA Limited, respectively.
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 1,000.00 | Rs 1,187.30 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,317.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,618.70 | Rs 1,000.00 | Rs 1,000.00 |
Company Financials
| Period Ended | 30 Mar 2023 | 30 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 |
| Reserves and Surplus | ||
| Total Borrowing | 2,588.65 | 2,788.65 |
Company Promoters
The company’s promoters include Rashesh Shah, Mr. Venkatchalam Ramaswamy, Ms. Vidya Shah, and Ms. Aparna T.C.
Objects of the Issue
The net proceeds from the issue are intended to be utilized for the following purposes:
- For onward lending, financing, and repayment of interest and principal of existing borrowings of the Company.
General corporate purposes. - These allocations aim to support the company’s operational growth and financial stability.
