Edelweiss Housing Finance Limited (EHFL) announced that its public issue of secured redeemable non-convertible debentures (NCDs) has been completed and the company has allotted 27,59,057 NCDs of face value of ?1,000 each, amounting to ?275.91 crore.
The issue has seen a significant demand in the retail segment with total collections of ?173.93 crore. The issue also saw good interest from corporates and other investors.
Almost 45% of the total issue size got subscribed for five years and 10 years tenure, as investors seek to subscribe for long term.
Rajat Avasthi, managing director and chief executive officer, EHFL, said “We are delighted with the encouraging response to our NCD issue. This is a demonstration of the faith that investors across categories have in our technology powered business model and the appetite for high quality financial papers that offer competitive interest rates."
The issue has seen interest from investors across series and tenures offering annual, monthly and cumulative interest options with the effective annual yield ranging from 8.49% to 9.69% per annum.
The NCDs was rated “CRISIL AA-/negative" and “ACUITE AA/Negative. The NCDs will be listed on BSE to provide liquidity to the investors. Equirus Capital Private Ltd and Edelweiss Financial Services Ltd were the lead managers to this Issue.
Edelweiss Housing Finance is a non-deposit-taking housing finance company focused on offering secured loan products, including small ticket unsecured loans to customers from mainly rural areas, and corporates. It is a part of Edelweiss group which is one of the leading diversified financial services groups in India.
