Edelweiss Financial Services Ltd. NCD Interest Rate Up to 10.44%
NCD/Series Details
Issuer | Edelweiss Financial Services Ltd. |
Issue | Rs. 400 Crs (Base Issue Size Rs. 200 Crs with green shoes option of Rs 200Crs) |
Rating | “Acuite” – AA-/Negative and “CRISIL” AA – Negative |
Issue opens | April 06th, 2023 |
Issue closes | April 21st, 2023 |
Issue Price | Rs. 1,000/- per NCD (For all options of NCDs) |
Minimum Application | Rs. 10,000/- (10 NCDs) across all Series and in multiples of 1 (one) NCD of Rs. 1,000/- each thereafter |
Coupon Type | Fixed Coupon Rates |
Listing | NCDs are proposed to be listed on BSE within 6 Working Days from the respective Tranche issue Closing Date. |
NCDs Options | I | III | IV | VI | VII | IX | X | ||
Frequency of Interest Payment | Annual | Monthly | Annual | Monthly | Annual | Monthly | Annual | ||
Minimum Application | Rs 10,000/- (10 NCDs) across all Series and in multiples of 1 (one) NCD thereafter | ||||||||
Issue Price (Rs. / NCD) | Rs. 1,000/- | ||||||||
Face Value / Issue Price (Rs. / NCD) | Rs. 1,000/- | ||||||||
Tenor from Deemed Date of Allotment | 24 months |
36 months |
36 months |
60 months |
60 months |
120 months |
120 months |
||
Coupon (% per annum) for NCD Holders in Category I,II, III & Category IV | 8.95% | 9.20% | NA | 9.67% | 10.10% | 10.00% | 10.45% | ||
Effective Yield (per annum) for NCD Holders in Category I,II, III and Category IV | 8.94% | 9.59% | 9.59% | 10.10% | 10.09% | 10.46% | 10.44% | ||
Amount (Rs / NCD) on Maturity for NCD Holders in Category I, II, III, IV | ₹1,000/‐ | ₹1,000/‐ | ₹1,000/‐ | ₹1,000/‐ | ₹1,000/‐ | ₹1,000/‐ | ₹1,000/‐ | ||
Maturity / Redemption Date (Years from the Deemed Date of Allotment) | 24 months |
36 months |
36 months |
60 months |
60 months |
120 months |
120 months |
||
Put and call option | N.A. | ||||||||
Mode of Interest Payment | Through various options available |
Please take print of the Application Form A4 paper size. Click here to download Application form of ECL Finance Limited NCD 2022
Attach following document along with the application form : –
1] PAN Card and Demat Proof Photo Copy attested by applicant.
2] One Cancelled Cheque copy.
3] Bidding is mandatory.
4] Cheque / DD not require as it is ASBA application
5] On First come First Serve Basis
6] Keep photocopy of application form for your record.
7] Submit / deposit your NCD application form in Listed/ Design Bank Branches. (search below for your city)
8] To record and track the status/allotment of your application form, send us the soft copy Application Form/ Acknowledgement Slip.
9] The actual bond will reflect in your demat account within 2 weeks time form date of allotment.
10] Free Home Service available *
SBICap Securities Ltd Branches for submission of application Form
NAME OF THE BRANCH | ADDRESS |
---|---|
GANDHINAGAR GUJARAT BRANCH | SBICAP SECURITIES LTD. ,B - 310, 3RD FLOOR, SUPER MALL-1, INFOCITY, GANDHINAGAR - 382009, , INDIA |
BAREILLY BRANCH | SBICAP SECURITIES LIMITED, SBICap Securities Ltd, C/o SBI MAIN BRANCH, FIRST FLOOR, NEAR KATCHERY, CIVIL LINES, BAREILLY - 243001, UTTAR PRADESH , INDIA |
AURANGABAD BRANCH | SBICAP SECURITIES LTD. 2ND FLOOR, AKSHAY DEEP PLAZA, NEAR CIDCO BUS STATION, CIDCO MUMBAI - 431001, MAHARASHTRA , INDIA |
AGARTALA | R M S CHOWMUHANI BRANCH, ROAD NO. 2, RAMNAGAR, AGARTALA - 799002, TRIPURA , INDIA |
MUMBAI THANE BRANCH | SBICap Securities Ltd, C/o . SBI, PARSI AGYANI CROSS LANE, JAMBLI NAKE, THANE (WEST), MUMBAI - 400601, MAHARASHTRA , INDIA |
DHARWARD EHUB | SBICAP SECURITIES LTD, STATE BANK OF INDIA, 1ST FLOOR, COLLAGE ROAD, DHARWAD - 580001, KARNATAKA , INDIA |
INDORE EHUB | SBICAP SECURITIES LIMITED, REGIONAL OFFICE, 204, OASIS TRADE TOWER, 20/22 , Y.N. ROAD, OPP.RANI SATI GATE, INDORE - 452003, MADHYA PRADESH , INDIA |
DELHI EHUB | SBICAP SECURITIES LTD., 1ST & 2ND FLOOR, 57, PANCHKUIAN ROAD, NEAR R. K. ASHRAM MARG, METRO STATION, NEW DELHI - 110001, DELHI , INDIA |
SHILLONG BRANCH | SBICAP SECURITIES LTD., STATE BANK OF INDIA, SHILLONG MAIN BRANCH, 1ST FLOOR, M G. ROAD, NEAR G P O, SHILLONG - 793001, MEGHALAYA , INDIA |
VIJAYAWADA E-HUB | SBICap Securities Ltd, C/o .SBI ADMINISTRATIVE OFFICE GROUND FLOOR, PRAKASAM ROAD, SURYARAO PET VIJAYAWADA - 520002, ANDHRA PRADESH , INDIA |
The following categories of persons are eligible to apply in the Issue:
Category I (Institutional) 10% of the overall issue size
- Resident Public Financial Institutions, Statutory Corporations including State Industrial Development Corporations, Commercial Banks, Co-operative Banks and Regional Rural Banks, which are authorized to invest in the NCDs;
- Provident Funds and Resident Pension Funds with minimum corpus of Rs. 250 million, Superannuation Funds and Gratuity Fund, which are authorized to invest in the NCDs;
- Venture Capital funds and / or Alternative Investment Funds registered with SEBI;
- Insurance Companies registered with the IRDA;
- National Investment Fund (set up by resolution no. F. No. 2/3/2005-DDII dated November 23, 2005 of the Government of India and published in the Gazette of India);
- Insurance funds set up and managed by the Indian army, navy or the air force of the Union of India or by the Department of Posts, India
- Mutual Funds, registered with SEBI.
Category II (Non Institutional) 10% of the overall issue size
- Companies; bodies corporate and societies registered under the applicable laws in India and authorized to invest in the NCDs;
- Educational institutions and associations of persons and/or bodies established pursuant to or registered under any central or state statutory enactment; which are authorized to invest in the NCDs;
- Public/private charitable/religious trusts which are authorized to invest in the NCDs;
- Scientific and/or industrial research organizations, which are authorized to invest in the NCDs;
- Partnership firms in the name of the partners;
- Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership
Category III (HNI) 40% of the overall issue size
- Resident Indian individuals or Hindu Undivided Families through the Karta applying for an amount aggregating to above Rs. 10 Lakh across all series of NCDs in Issue.
Category IV (Individuals) 40% of the overall issue size
- Resident Indian individuals or Hindu Undivided Families through the Karta applying for an amount aggregating up to and including Rs. 10 Lakh across all series of NCDs in Issue.
Edelweiss has been in business for 2 decades… Promoter is Edelweiss Financial Services Limited. Our Promoter was incorporated on November 21, 1995 as a public limited company under the provisions of the Companies Act, 1956 as Edelweiss Capital Limited. ECL Finance Ltd is one of the leading systemically important non-deposit taking NBFCs, focused on offering a broad suite of secured corporate loan products, retail loan products which are customized to suit the needs of the corporates, SMEs and individuals.
It’s corporate and retail loan products include:
Structured Collateralize Credit: ECL Finance Ltd structured collateralize credit loans constituted 25.15% of its total loan book as at March 31, 2018. Structured collateralize credit loans are offered mostly to corporate against collateral such as liquid market securities, pledge of other securities, pledge of shares by promoters, immovable property, etc. The loans include bridge financing or other short term loans to corporates.
Wholesale Mortgages: This includes various structured financing solutions for finance to developers for real estate projects under construction, which constituted 35.46% of the Company’s total loan book as at March31, 2018.
SMEs and others: This includes credit facilities and short term loans to SMEs for meeting their business requirements, which constituted 7.70 % of the Company’s total loan book as at March 31, 2018.
Loans against securities : This includes loans to investors against their existing portfolio of investments,which constituted 21.00 % of the Company’s total loan book as at March 31, 2018.
Retail Mortgages -Loans against Property: This includes loans offered to self – employed individuals for business purposes against a mortgage of residential or commercial property, which constituted 6.67 % of the Company’s total loan book as March 31, 2018.
Agri Credit: As a part of agricultural value chain services, ECL extends short term finance (usually for a period of three to nine months) against agri commodities inventory stored in warehouses managed by the sister concerns of the Company, which constituted 4.02 % of the Company’s total loan book as at March 31, 2018.
ECL Finance Ltd is a part of the Edelweiss Group which is one of India’s prominent financial services organization having businesses organized around three broad lines –credit including retail finance; franchise & advisory businesses including wealth management, asset management, capital market s, balance sheet management and others, and insurance business. The product/ services portfolio of the Edelweiss Group caters to the diverse investment and strategic requirements of corporate, institutional, high net worth individuals and retail clients. Edelweiss Group has a pan India presence with a global footprint extending across geographies with offices in New York, Mauritius,Dubai, Singapore, Hong Kong and UK. EFSL is listed on BSE and NSE. EFSL through its subsidiaries, offers toits customers a diversified financial services platform that provides various secured corporate loan products, retail loan products and services, SME financing, agri value chain services including agri credit, wealth advisory services, asset management, insurance, investment banking, institutional and retail broking.
ECL Finance Ltd’s total loan book was Rs 220,081.23 million as of March 31, 2018. Secured loans portfolio constituted 92.32 %of the Company’s total loan book as at March 31, 2018. Its capital adequacy ratio, as of March 31, 2018 computedon the basis of applicable RBI requirements was 17.09%, compared to the RBI stipulated minimum requirement of 15% as per the Master Directions of RBI. It’s Gross NPAs as a percentage of total Loan Book was 1.82% as of March 31, 2018. It’s net NPAs as a percentage of Loan Book was 0.75% as of March 31, 2018
Competitive Strengths of the company
- Established brand and parentage
- ECL’s network of offices
- Liquid balance sheet with a track record of high growth and profitability
- Diversified portfolio of products with dedicated and experienced product management teams
- Secured loan book and strong asset quality
- ECL is adequately capitalized to fund its growth
- Diversified funding profile and access to range of cost effective funding sources
- Robust risk management systems and independent processes which are well defined
- Equipped with advanced technology as a differentiator
- Professional and experienced senior management team
Strategy
- Retail Focus
- Minimize concentration risk by diversifying the portfolio of products and expanding customer base
- Optimizing return while maintaining the quality of the Company’s Loan Book
- Improve the Company’s credit ratings to optimize cost of funds
- Continue to attract and retain talented employees and ensure a low attrition rate among senior management
- Build on ECL’s scalable platform for its SME finance business
- Achieve operations excellence by further strengthening the Company’s operating processes and risk management systems
- Optimizing return while maintaining the quality of Loan Book
Key Risk and Concerns:
- Any increase in the levels of non-performing assets (“NPA”) on ECL’sloan portfolio, for any reason whatsoever, would adversely affect the business and results of operations;
- Any volatility in interest rates which could cause ECL’s gross spreads to decline and consequently affect its profitability;
- Unanticipated turbulence in interest rates or other rates or prices; the performance of the financial and capital markets in India and globally;
- Changes in political conditions in India;
- Changes in the value of Rupee and other currency changes;
- The rate of growth of ECL’s Loan Book;
- The outcome of any legal or regulatory proceedings ECL is or may become a party to;
- Changes in Indian and/or foreign laws and regulations, including tax, accounting, banking, securities, insurance and other regulations; changes in competition and the pricing environment in India; and regional or general changes in asset valuations;
- Any changes in connection with policies, statutory provisions, regulations and/or RBI directions in connection with NBFCs, including laws that impact ECL’s lending rates and its ability to enforce its collateral;
- Emergence of new competitors
- Performance of the Indian debt and equity markets;
- Occurrence of natural calamities or natural disasters affecting the areas in which ECL has operations;
- ECL’s ability to attract and retain qualified
ECL Finance NCD Dec 2020 to Jan 2021 Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6200
Fax: +91-22-4918 6195
Email: ncd1.efsl@linkintime.co.in
Website: http://www.linkintime.co.in
Click here to check your allotment status
Email ID : efslncd@edelweissfin.com Website: www.edelweissfin.com,
Investor Grievance email: customerservice.mb@edelweissfin.com
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