INR 200 crore public NCD issue of Edelweiss Financial Services Limited Oversubscribed

By India Education Diary Bureau Admin On Jan 5, 2021

Chennai: Edelweiss Financial Services Limited (EFSL), the parent arm of the Edelweiss Group, today announced that its public issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been oversubscribed. The issue successfully mobilized over INR 240 crore with the Base Issue as well as the Green Shoe option fully subscribed.

Retail category of the Issue being oversubscribed by 2.27 times with a total collection of ~ INR 181 crores***. The Issue received about 10,647 applications panning across India***.

Commenting on the success Rashesh Shah, Chairman, Edelweiss Group said “We are delighted with the great response to the NCD issue. The issue has been oversubscribed and we are closing it much earlier than planned.”

CARE Ratings Limited has rated the offering “CARE A+; (Single A Plus; Outlook: Stable)” and Brickwork Ratings India Private Limited has rated it as “BWR AA-/Stable (Assigned)”

Equirius Capital Private Limited is the Lead Manager of this NCD issue. The Issue opened on December 23, 2020 and has announced an early closure on Jan 4th, 2021. The NCDs will be listed on BSE Limited.