Mumbai

Edelweiss Financial Services Limited (EFSL), today announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of a face value of ₹1,000 each, amounting to ₹ 2,000 million (“Base Issue”), with an option to retain over-subscription up to ₹ 2,000 million aggregating to a total of ₹ 4,000 million (“Issue”).

There are 7 Series of NCDs carrying fixed coupon and having tenures ranging from 36 months, 60 months and 120 months with annual, monthly and cumulative interest option. Effective annual yield for NCDs having fixed interest rates ranges from 9.09% to 9.70%.

At least 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 the Securities and Exchange Board of India (Issue And Listing Of Debt Securities) Regulations, 2008 as amended (“SEBI Debt Regulations”).

An additional incentive maximum of 0.20% p.a. will be offered for all Category of Investors in the proposed Issue, who are also holders of NCD(s)/Bond(s) previously issued by our Company, and/ or our group company, ECL Finance Limited, Edelweiss Housing Finance Limited, Edelweiss Retail Finance Limited and Edelweiss Finance & Investments Limited as the case may be,  and/or are  equity  shareholder(s)  of  Edelweiss Financial Services Limited (“EFSL”) as the case may be, on the deemed date of allotment.

The NCDs proposed to be issued under the Issue have been rated Acuite AA (read as ACUITE double A) (Outlook: Negative)” for an amount of ₹ 4,000 million by Acuité Ratings & Research Limited vide their rating letter dated March 4, 2021 and “BWR AA-/Stable (Assigned)” for an amount of ₹ 4,000 million by Brickwork Ratings India Private Limited vide their rating letter dated March 5, 2021.

Equirus Capital Private Limited is the Lead Manager of this NCD issue. The Issue opens on April 1, 2021 and closes on April 23, 2021 with an option of early closure. The NCDs will be listed on BSE Limited to provide liquidity to the investors.

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