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Edelweiss Financial Services moves up on planning to raise Rs 400 crore through public issue of NCDs

03 Jan 2023 Evaluate

Edelweiss Financial Services is currently trading at Rs. 64.70, up by 0.70 points or 1.09% from its previous closing of Rs. 64.00 on the BSE.

The scrip opened at Rs. 64.00 and has touched a high and low of Rs. 65.50 and Rs. 64.00 respectively. So far 55924 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 77.50 on 03-Jan-2022 and a 52 week low of Rs. 49.40 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 67.30 and Rs. 61.80 respectively. The current market cap of the company is Rs. 6083.00 crore.

The promoters holding in the company stood at 32.62%, while Institutions and Non-Institutions held 34.17% and 33.20% respectively.

Edelweiss Financial Services has planned to raise Rs 400 crore through public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each, amounting to Rs 200 crore (Base Issue), with an option to retain over-subscription up to Rs 200 crore. There are ten series of NCDs carrying fixed coupon and having tenure of 24 months, 36 months, 60 months and 120 months with annual, monthly and cumulative interest option. Effective annual yield for NCDs ranges from 8.99% to 10.46%.

At least 75% of the funds raised through this issue will be used for the purpose of repayment /prepayment of interest and principal of existing borrowings of the Company and the balance is proposed to be utilized for general corporate purposes, subject to such utilization not exceeding 25% 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, as amended from time to time.

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

119.09 1.76 (1.50%)
17-Apr-2026 16:59 View Price Chart
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