Edelweiss Financial Services said its Rs 200 crore public issue of debentures opened on Monday.
The non-convertible debentures (NCDs) will have an effective annual yield of 9% to 10.46%. The issue will close on April 23.
The NCDs carry fixed coupons and have a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options, Edelweiss Financial Services said in a statement.
“Edelweiss Financial Services has announced the opening of the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each for an amount up to Rs 1,000 million (base issue size), with a greenshoe option of up to Rs 1,000 million (Rs 100 crore), cumulatively aggregating up to Rs 2,000 million (Rs 200 crore),” it said.
At least 75% of the funds raised through the issue will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the company and the balance amount will be utilised for general corporate purposes, Edelweiss Financial said.
Edited by Megha Reddy
