Established in November 1995, Edelweiss Financial Services Limited (EFSL) operates as an investment banking entity headquartered in Mumbai. Through its various subsidiaries, Edelweiss offers a diverse range of financial services such as retail and corporate lending, asset management encompassing mutual funds and alternative investments, asset reconstruction, and both life and general insurance. Additionally, it provides wealth management solutions. As of June 30, 2023, the Edelweiss Group encompasses 28 subsidiary companies. Notably, the company has also made significant strides in financial offerings, including initiatives such as the Edelweiss Financial Services NCD IPO. With a robust presence both domestically and internationally, Edelweiss boasts a network of 242 offices across India and three overseas offices. As of June 30, 2023, the company employs a workforce exceeding 6,062 individuals. Since 2007, Edelweiss has been listed on the stock exchanges under the trading symbols NSE: EDELWEISS and BSE: 532922.
Edelweiss Financial Services NCD IPO January 2024 Detail
| Issue Open | January 9, 2024 – January 22, 2024 |
| Security Name | Edelweiss Financial Services IPO Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 125.00 Crores |
| Issue Size (Shelf) | Rs 250.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | “CRISIL A+/Stable by by CRISIL Ratings Limited and “[ICRA] A+ ” by ICRA Limited |
| Tenor | 24, 36, 60 and 120 Months |
| Series | Series I to X |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
Edelweiss Financial Services NCD Allocation Ratio
Edelweiss Financial Services Limited NCD Coupon Rates
NCD Rating
The NCDs proposed to be issued under this Issue have been rated CRISIL A+/Stable by CRISIL Ratings Limited and ICRA A+ (Stable) by ICRA Limited with such ratings considered to have a stable outlook.
Company Promoters
The company’s promoters are Rashesh Shah, Mr. Venkatchalam Ramaswamy, Ms. Vidya Shah, and Ms. Aparna T.C..
Company Financials
Edelweiss Financial Services Limited Financial Information (Restated Consolidated)
| Period Ended | 30 Mar 2023 | 30 Mar 2022 |
| Assets | 44,064.27 | 43,279.78 |
| Revenue | 8,632.59 | 7,212.59 |
| Profit After Tax | 405.56 | 212.07 |
| Net Worth | 5,000.22 | 4,125.99 |
| Reserves and Surplus | ||
| Total Borrowing | 2,588.65 | 2,788.65 |
| Amount in ₹ Crore | ||
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- For onward lending, financing, and repayment of interest and principal of existing borrowings of the Company.
- General corporate purposes.
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