Edelweiss Financial Services has announced a public issue of non-convertible debentures (NCDs) that can be redeemed to raise up to Rs 400 crore from investors to raise up to Rs 400 crore. This issue will open on 3 January. Each NCD will be of face value of Rs 1,000. The company will initially try to raise Rs 200 crore. Also, there will be an option of over-seminal up to Rs 200 crore. The company said that these NCDs with fixed coupons have 10 series and these will come with an annual, monthly and cumulative interest option with a period of 24 months, 36 months, 60 months and 120 months. The company said, the annual effective returns on these NCDs will come between 8.99 to 10.46 per cent. Apart from this, the company will also give an additional incentive of 0.20 per cent to those who are shareholders of the company or who have ever invested in the bonds or NCDs of the Edelwaise Group companies before. State Bank of India is currently offering 6.1 to 6.25 per cent interest on its FD with a period of 1 to 5 years. Related news also read- Multibagger Stocks: In 2022 these shares have given more than 1,000% returns, investors rated fiercely, investors rated fierce money Negative outlook with ratings) and Acuite AA-/Negative. The company said that it will use at least 75 percent of the amount collected through this issue to pay the principal and interest of loans loaded on the company. At the same time, the remaining amount is proposed to be used for other general corporate purposes. Ecuerus Capital Private Limited is the lead manager of this NCD issue. The issue will be open till Monday 23 January. However, it also has the option to close quickly. These NCDs will be listed on the Bombay Stock Exchange to provide liquidity to investors.
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