Edelweiss Broking, To Raise Up To Rs 300 Cr Via NCD

Edelweiss Broking on Tuesday said it will raise up to Rs 300 crore through the public issuance of non-convertible debentures to support working capital requirements. The issue will open on July 5 and close on July 26 with an option of early closure, the company said in a statement.

The public issue of secured redeemable non-convertible debentures (NCDs) or bonds will have a face value of Rs 1,000 each. The issue has a base issue size of Rs 150 crore with an option to retain an oversubscription of up to Rs 150 crore, aggregating to Rs 300 crore. The funds raised through the issue will be used for working capital purposes.

These bonds will have a tenor of 24 months / 36 months / 60 months / 120 months available with various interest payment options like monthly, annual and cumulative. The effective yields offered to investors are in the range of 8.75-9.95 per cent per annum. Equirus Capital and Edelweiss Financial Services are the lead managers of the issue.

These bonds are proposed to be listed on BSE. Edelweiss Broking is a technology-driven securities company in the country that offers a wide range of financial services, including broking services and distribution of financial products.

(PTI)