Edelweiss Financial Services Rs 200 cr NCD Issue Opens

New Delhi, Apr 8 (PTI) Edelweiss Financial Services said its Rs 200 crore public issue of debentures opened on Monday.

The non-convertible debentures (NCDs) will have an effective annual yield of 9 per cent to 10.46 per cent. The issue will close on April 23.

The NCDs carry fixed coupons and have a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options, Edelweiss Financial Services said in a statement.

"Edelweiss Financial Services has announced the opening of the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each for an amount up to Rs 1,000 million (base issue size), with a greenshoe option of up to Rs 1,000 million (Rs 100 crore), cumulatively aggregating up to Rs 2,000 million (Rs 200 crore)," it said.

At least 75 per cent of the funds raised through the issue will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the company and the balance amount will be utilised for general corporate purposes, Edelweiss Financial said.