Edelweiss Broking Limited today announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 1,000 each, aggregating up to Rs 150 Cr (â€œBase Issueâ€), with an option to retain over-subscription up to Rs 150 Cr aggregating up to Rs 300 Cr (â€œIssueâ€).
At least 90% from the net proceeds of the Issue will be used for working capital purpose and the balance of the net proceeds is proposed to be utilized for general corporate purposes, subject to such utilization not exceeding 10% of the amount raised in the Issue, in compliance with the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (â€œSEBI NCS Regulationsâ€).
The NCDs carry fixed coupon ranging from 8.75% to 9.95% per annum and have tenor of 24 months/36 months /60 months/ 120 months available with various interest payment options like monthly, annual and cumulative.
The additional incentive will be maximum of 0.20% p.a. 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 ECL Finance Limited, Edelweiss Financial Services 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 as the case may be, on the deemed date of allotment.
The NCDs proposed to be issued under this Issue have been rated â€œCRISIL AA-/Negative (pronounced as CRISIL double A minus rating with negative outlook)â€ and â€œACUITE AAâ€ (pronounced as ACUITE double A rating with negative outlook).
The Issue opens on Tuesday, July 5, 2022 and closes on Tuesday, July 26, 2022 with an option of early closure. The NCDs are proposed to be listed on BSE Limited (â€œBSEâ€) to provide liquidity to the investors.
Equirus Capital Private Limited and Edelweiss Financial Services Limited* are the Lead Managers to this Issue.