Edelweiss Financial Services Ltd (EFSL), the parent arm of Edelweiss Group, has announced public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of a face value of ₹1,000 each, amounting to ₹ 100 crore, with an option to retain over-subscription up to ₹ 100 crore aggregating to a total of ₹200 crore.
The NCDs offer an effective yield (cumulative) of 9.95% per annum for 120 months tenure, 9.35% per annum for 36 months tenure and up to 9.80% per annum for 60 months tenure, as per the company.
“75% of the funds raised through this Issue will be used for the purpose of repayment /prepayment of interest and principal of existing borrowings of the company and the balance is proposed to be utilized for general corporate purposes, subject to such utilization not exceeding 25% of the amount raised in the Issue, in compliance with SEBI regulations,” the firm said in a statement.
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The Issue will open on 23 December and close by 25 January, 2021.