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Edelweiss Financial Services trades higher on the bourses

08 Mar 2018 Evaluate

Edelweiss Financial Services is currently trading at Rs. 260.45, up by 6.90 points or 2.72% from its previous closing of Rs. 253.55 on the BSE.

The scrip opened at Rs. 254.00 and has touched a high and low of Rs. 261.70 and Rs. 253.85 respectively. So far 170351 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 309.40 on 03-Nov-2017 and a 52 week low of Rs. 127.25 on 10-Mar-2017.

Last one week high and low of the scrip stood at Rs. 279.75 and Rs. 248.35 respectively. The current market cap of the company is Rs. 23706.15 crore.

The promoters holding in the company stood at 33.73%, while Institutions and Non-Institutions held 32.09% and 34.18% respectively.

Edelweiss Financial Services’ subsidiary -- Edelweiss Retail Finance is planning to raise funds through the public issue of Secured Redeemable Non Convertible Debentures (NCDs) of face value of Rs 1000 each, aggregating up to Rs 250 crore, with an option to retain over-subscription up to Rs 250 crore, aggregating a total of Rs 500 crore.

The public issue of NCDs offers investors an opportunity to lock in at attractive yields ranging from 8.75% p.a. to 9.25%. The NCDs also offer a tenure varying from 3 years to 10 years, with an option to receive interest monthly or annually. The issue opens on March 07, 2018 and closes on March 22, 2018, with an option to close early if it receives complete subscription. The NCDs will be listed on the BSE and the National Stock Exchange of India.

The NCDs to be issued have received ‘AA/Stable’ rating by CRISIL and ‘AA’ rating with a Stable Outlook by ICRA, for an amount of Rs 500 crore each, indicating that the instruments have the highest degree of safety regarding timely servicing of financial obligations, and carry very low credit risk.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments - agency business and holding company activities.

Edelweiss Financial Share Price

118.64 -0.45 (-0.38%)
20-Apr-2026 11:17 View Price Chart
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