Edelweiss Financial Services is currently trading at Rs 61.00, up by 1.90 points or 3.21% from its previous closing of Rs 59.10 on the BSE.
The scrip opened at Rs 59.00 and has touched a high and low of Rs 62.20 and Rs 58.50 respectively. So far 1192905 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 64.90 on 13-Jun-2014 and a 52 week low of Rs 24.90 on 26-Nov-2013.
Last one week high and low of the scrip stood at Rs 64.90 and Rs 53.20 respectively. The current market cap of the company is Rs 4727.93 crore.
The promoters holding in the company stood at 37.15% while Institutions and Non-Institutions held 22.62% and 40.23% respectively.
Edelweiss Financial Services’ NBFC arm - ECL Finance, has come out with the public issue of unsecured redeemable non-convertible debentures (NCDs) of face value of Rs 1,000 each, aggregating to Rs 200 crore. The issue also comes with an option to retain over- subscription up to Rs 200 crore, aggregating to a total of Rs 400 crore.
The funds raised through the issue will be used for financing activities, including lending and investments, to repay existing loans and for business operations like capital expenditure and working capital requirements.
The NCDs, which will open for subscription on June 17 and will close on July 2, are in the nature of subordinated debt with tenure of 70 months. It offers investors an opportunity to lock in at interest rate of 12% per annum with monthly, annual and cumulative options. The effective yield in monthly option works out to 12.68% for 70 months tenure and under cumulative option, investors will get 2.01 times of the invested amount at maturity.
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