Edelweiss Financial Services Limited NCD Company Profile:
Edelweiss Financial Services Limited is a leading financial services company in India that offers a broad range of financial solutions to clients both domestically and globally. The company is dedicated to understanding its clients’ needs and providing them with customized financial solutions throughout every stage of their financial journey. The company’s main lines of business include credit, asset management, wealth management, and insurance. Edelweiss Financial Services Limited has a diverse client base ranging from large corporations to small businesses and individual households in both urban and rural areas of India. The company has over 2.1 million clients and a network of over 300 offices, supported by nearly 8,500 employees and a strong network of authorized persons and sub-brokers across major cities in India.
Edelweiss Financial Services Limited is coming out with a debt offering of Secured Redeemable Non-Convertible Debentures with the face value of ₹ 1000 each, a Base Issue size of ₹ 200 Crore, and an option to retain oversubscription up to ₹ 200 Crore aggregating up to ₹ 400 crores, being the Tranche-II Issue size. The issue opens for subscription on Thursday, 6th April 2023, and will close on or before Friday, 21st April 2023. The allotment is on a first come first serve basis with the minimum application to be made is of 10 NCDs.
Edelweiss Financial Services Limited NCD Details:
| Tranche II Issue opens: | Thursday, 6th April 2023 | ||||
| Tranche II Issue closes: | Friday, 21st April 2023 | ||||
| Allotment: | First Come First Serve Basis | ||||
| Face Value: | Rs.1,000 per NCD | ||||
| Nature of Instrument: | Secured Redeemable Non-Convertible Debentures | ||||
| Minimum Application: | 10 NCDs (Rs.10, 000) & in multiple of 1NCD | ||||
| Listing: | BSE | ||||
| Credit Rating | “CRISIL AA-/Negative” (pronounced as CRISIL double A minus rating with Negative outlook) and “ACUITE AA-/ Negative” (pronounced as ACUITE double A Minus) | ||||
| Tranche-II Issue Size | ₹ 200 crores (“Base Issue Size”), with an option to retain oversubscription up to ₹ 200 crores aggregating up to ₹ 400 crores | ||||
| Minimum Subscription: | Minimum subscription is 75% of the Base Issue, i.e., ₹ 150 crores | ||||
| Registrar: | KFIN Technologies Limited | ||||
| Category | I – Institutional (“QIB”) | II – Non-Institutional (“Corporates”) | III – High Net worth
Individual (“HNI”) (Amount aggregating to above ₹ 10 lakh) |
IV – Retail Individual (“Retail”) (Amount aggregating up to and including ₹ 10 lakh) | |
| Category Allocation of the overall Issue Size | 10% | 10% | 40% | 40% | |
| Bucket Size (₹) assuming Issue size of ₹ 400 Cr₹ | ₹ 40 Cr | ₹ 40 Cr | ₹ 160 Cr | ₹ 160 Cr | |
Edelweiss Financial Services Limited NCD
Application form
Edelweiss Financial Services Limited NCD Specific Terms of the Prospectus:
The terms of the NCDs offered under the Issue are as follows:
| Series | I | II | III | IV | V | VI | VII | VIII | IX | X |
| Frequency of Interest Payment | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual |
| Tenor | 24
months |
24
months |
36
months |
36 months | 36 months | 60 months | 60 months | 60 months | 120
months |
120
months |
| Coupon Rate (% p.a.) for NCD Holders in: | ||||||||||
| Category I, II, III & IV | 8.95% | NA | 9.20% | 9.60% | NA | 9.67% | 10.10% | NA | 10.00% | 10.45% |
| Effective Yield (% p.a.) for : | ||||||||||
| Category I, II, III & IV | 8.94% | 8.95% | 9.59% | 9.59% | 9.60% | 10.10% | 10.09% | 10.10% | 10.46% | 10.44% |
| Amount (₹ / NCD) on Maturity for ^ : | ||||||||||
| Category I, II, III & IV | ₹1,000 | ₹1,188.
40 |
₹ 1,000/- | ₹ 1,000/- | ₹1,317.
00 |
₹1,000 | ₹1,000 | ₹1,618. 30 | ₹1,000 | ₹1,000 |
| Maturity / Redemption Date (Years from the Deemed Date of Allotment) | 24
months |
24
months |
36
months |
36 months | 36 months | 60 months | 60 months | 60 months | 120
months |
120
months |
* **T & C Apply
*The Company shall allocate and allot Series IV NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.
All Category of Investors in the proposed Tranche II Issue who are also holders of NCD(s)/Bond(s) previously issued by the Company, and/ or ECL Finance Limited,Nuvama Wealth & Investment Limited, Edelweiss Retail Finance Limited,Edelweiss Housing Finance Limited and Nuvama Wealth Finance Limited as the case may be, and/or are equity shareholder(s) of the Company as the case may be,on the Deemed Date of Allotment and applying in Series I, Series III,
Series IV, Series VI, Series VII, Series IX and/or Series X shall be eligible for additional incentive of 0.20% p.a. provided the NCDs issued under the proposed Issue areheld by the investors on the relevant Record Date applicable for payment of respective coupons, in respect of Series I, Series III, Series IV, Series VI, Series VII, Series
IX and/or Series X.
For all Category of Investors in the proposed Tranche II Issue who are also holders of NCD(s)/Bond(s) previously issued by the Company, and/ or ECL Finance Limited,Nuvama Wealth & Investment Limited, Edelweiss Retail Finance Limited, Edelweiss Housing Finance Limited and Nuvama Wealth Finance Limited as the case may
be, and/or are equity shareholder(s) of the Company as the case may be, on the Deemed Date of Allotment applying in Series II, Series V and/or VIII, the maturity amount at redemption along with the additional yield would be ₹ 1,191.70 per NCD, ₹ 1,324.10 per NCD and/or ₹ 1,633.50 per NCD respectively provided the NCDs issued under the proposed Issue are held by the investors on the relevant Record Date applicable for redemption in respect of Series II, Series V and/or Series VIII.
On any relevant Record Date, the Registrar and/or Edelweiss Financial Services Limited shall determine the list of the Primary holder(s) of this Issue and identify such Investor/ NCD Holders,(based on their DP identification and /or PAN and/or entries in the Register of NCD Holders) and make the requisite payment of additional incentive.
**The additional incentive will be maximum of 0.20% p.a. for all Category of Investors in the proposed Issue, who are also holders of NCD(s)/Bond(s) previously issued by the Company and/ or our group company, ECL Finance Limited, Edelweiss Housing Finance Limited, Edelweiss Retail Finance Limited and Edelweiss Finance & Investments Limited as the case may be, and/or are equity shareholder(s) of Edelweiss Financial Services Limited (“EFSL”) as the case may be, on the deemed date of allotment.