Edelweiss Financial Services Limited plans to raise upto Rs. 200 crore via public issue of secured redeemable Non-Convertible Debentures (NCDs). The offering consists of a base issue size of Rs. 100 crore, with the option to increase by another Rs. 100 crore through a green shoe option.
The public issue opened on Monday and will close on July 22.
The NCDs will be available in 12 different series, each offering fixed coupons and varying tenures of 24, 36, 60, and 120 months. Investors can expect an effective annual yield between 9.50 per cent and 11 per cent.
The company plans to allocate at least 75 per cent of the funds raised from the issue to the repayment or prepayment of existing borrowings, both in terms of interest and principal amounts.
First Published: Jul 08 2024 | 4:44 PM IST
