Edelweiss Financial Services Ltd (EFSL) on Wednesday announced the public issue of secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each aggregating to a total of Rs 400 crore.
Mumbai (Maharashtra) [India], Aug 11 : There are eight series of NCDs carrying fixed coupon and having tenure of 36 months, 60 months and 120 months with annual, monthly and cumulative interest option. Effective annual yield for NCDs ranges from 9.09 per cent to 9.7 per cent.
At least 75 per cent of the funds raised through the issue will be used for the purpose of repayment or prepayment of interest and principal of existing borrowings of the company. The balance is proposed to be utilised for general corporate purposes.
Equirus Capital is the lead manager of the NCD issue. The issue opens on August 17 and closes on September 6 with an option of early closure. The NCDs will be listed on BSE Ltd to provide liquidity to the investors.