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Edelweiss Finance announces new NCD public issue with up to 9.7% effective yield – check details
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financialexpress.comHere’s a new option for investors looking for fixed-income investments. Edelweiss Financial Services Limited (EFSL) has announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each, amounting to Rs 2,000 million (Base Issue), with an option to retain over-subscription up to Rs 3,000 million aggregating to a total of Rs 5,000 million (Tranche I Issue).
There are ten series of NCDs carrying fixed coupon and having tenure of 24 months, 36 months, 60 months and 120 months with annual, monthly and cumulative interest option. Effective annual yield for NCDs ranges from 8.75% to 9.70% per annum, Edelweiss Financial Services said in a statement.
Edelweiss said that at least 75% of the funds
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