INR 200 crore public NCD issue of Edelweiss Financial Services Limited Oversubscribed

·         Issue was oversubscribed and raised INR 240.14 crore***

·         Retail category oversubscribed 2.27 times with a total collection of ~INR 181 crores from 10,647 applications***

Chennai, January 5^th, 2021: Edelweiss Financial Services Limited (EFSL), the parent arm of the Edelweiss Group, today announced that its public issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been oversubscribed. The issue successfully mobilized over INR 240 crore with the Base Issue as well as the Green Shoe option fully subscribed.

Retail category of the Issue being oversubscribed by 2.27 times with a total collection of ~ INR 181 crores***. The Issue received about 10,647 applications panning across India***.

Commenting on the success Rashesh Shah, Chairman, Edelweiss Group said “We are delighted with the great response to the NCD issue. The issue has been oversubscribed and we are closing it much earlier than planned.”

CARE Ratings Limited has rated the offering “CARE A+; (Single A Plus; Outlook: Stable)” and Brickwork Ratings India Private Limited has rated it as “BWR AA-/Stable (Assigned)”

Equirius Capital Private Limited is the Lead Manager of this NCD issue. The Issue opened on December 23, 2020 and  has announced an early closure on Jan 4^th, 2021. The NCDs will be listed on BSE Limited. 

About Edelweiss Financial Services Limited:

Edelweiss Financial Services Limited (“EFSL”), was incorporated on November 21, 1995 under the name Edelweiss Capital Limited and started operations as an investment banking firm after receipt of a Category II license from SEBI. Edelweiss Capital Limited subsequently received a Category I Merchant Banker license from SEBI with effect from October 16, 2000. The name of Edelweiss Capital Limited was changed to ‘Edelweiss Financial Services Limited’ with effect from August 1, 2011.

EFSL was listed in December 2007 under the symbols NSE: EDELWEISS, BSE: 532922, Reuters: EDEL.NS and EDEL.BO and Bloomberg: EDEL IS and EDEL IB. Our Corporate Identity Number is L99999MH1995PLC094641.

After commencing the business as an investment banking firm, the Company, through its subsidiaries has now diversified its businesses to include credit including retail and corporate credit, wealth management, asset management, asset reconstruction and insurance including life and general insurance businesses, which are conducted through its subsidiaries. Our research driven and client-centric approach and consistent ability to capitalise on emerging market trends has enabled us to foster strong relationships across corporate, institutional (both domestic and international), high net worth individuals and retail clients. We have a pan-India and international network with approximately 339 offices, including two corporate offices in Mumbai and 10 international offices, in approximately 145 cities in India and six international locations and employed approximately 9,197 employees as at September 30, 2020. Our group comprises 47 subsidiaries (including NBFCs and an HFC) as at September 30, 2020. We believe that our diversified business strategy has improved the resilience of our business model across economic cycles. We constantly pursue innovation and invest in new ideas, newer products, newer alternate channels of delivery and so on. We seek to add significant value by providing new and innovative products and services and are committed to focusing on six key vectors in our journey into the future – people management, cost management, risk management, technology, customer experience and innovation – while adhering to our business principles – which emphasise placing our clients’ interests first, commitment to excellence and innovation and teamwork.

*For further details refer to section titled “Issue Related Information” on page 265 of the Prospectus dated December 17, 2020. Allotment in the public issue of debt securities should be made on the basis of date of upload of each application into the electronic book of the stock exchange. However, on the date of oversubscription, the allotments should be made to the applicants on proportionate basis.

**The Issue shall remain open for subscription on Working Days from 10 a.m. to 5 p.m. (Indian Standard Time) during the period indicated above, except that the Issue may close on such earlier date or extended date as may be decided by the Board of Directors of our Company or the Debenture Fund Raising Committee, subject to relevant approvals. In the event of an early closure or extension of the Issue, our Company shall ensure that notice of the same is provided to the prospective investors through an advertisement in a daily national newspaper with wide circulation on or before such earlier or initial date of Issue closure. On the Issue Closing Date, the Application Forms will be accepted only between 10 a.m. and 3 p.m. (Indian Standard Time) and uploaded until 5 p.m. or such extended time as may be permitted by the Stock Exchange. For further details please refer to our section titled “General Information” on page 56 of the Prospectus.

***The above subscription figures are based on the subscription figures available on the electronic platform of BSE as on January 4, 2021. 

Capitalised terms not defined herein shall have the same meaning as assigned to such terms in the Prospectus.