MUMBAI :
Edelweiss Monetary Providers Restricted (EFSL) on Tuesday stated it’s trying to elevate as much as ₹500 crore by means of issuance of secured redeemable non-convertible debentures (NCDs).
The bottom dimension of the difficulty is ₹200 crore with an choice to retain over-subscription as much as ₹300 crore, the corporate stated in a launch.
There are 10 collection of NCDs carrying fastened coupons and having a tenure of 24 months, 36 months, 60 months and 120 months with annual, month-to-month and cumulative curiosity choices.
Efficient annual yield for NCDs ranges from 8.75% to 9.70% each year, the discharge stated.
The corporate stated no less than 75% of the funds raised can be used for the aim of compensation/prepayment of curiosity and principal of its present borrowings.
The steadiness is proposed to be utilized for basic company functions, it stated.
The problem opens for subscription on December 6 and can shut on December 27 with an possibility of early closure.
The bonds proposed to be issued below this tranche I difficulty have been rated Crisil AA-/Unfavorable and Acuite AA/Unfavorable.
Supply: Live Mint