Edelweiss Financial Services’ wholly-owned subsidiary -- ECL Finance’s Secured Redeemable Non-Convertible Debentures (NCDs) has been fully subscribed. The issue successfully mobilized over Rs 300 crore within eight days. The Tranche I Issue was opened on May 10, 2019 and was scheduled to close on June 7, 2019. The base size of the issue was Rs 150 crore with an option to retain over-subscription up to Rs 150 crore aggregating to a total of Rs 300 crore.
The Tranche I Issue has seen a keen interest from retail investors with the retail bucket being oversubscribed by 2.36 times with total collection of Rs 212 crore. The Tranche I Issue received close to 15,827 applications pan India.
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.
