Edelweiss Housing Finance Limited (EHFL) announced the public issue of secured non-convertible debentures (NCDs) of the face value of ?1,000 each, amounting to ?150 crore (base Issue), with an option to retain over-subscription up to ?150 crore aggregating to a total of ?300 crore.
The NCDs proposed to be issued under this issue have been rated AA- with a negative outlook by Crisil Ltd and AA with a negative outlook by Acuite Ratings. There are 10 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. Coupon for NCDs ranges from 8.50% to 9.70% per annum.
At least 75% of the funds raised through this issue will be used for the purpose of onward lending, financing, and for repayment or prepayment of interest and principal of existing borrowings. The balance is proposed to be utilized for general corporate purposes, subject to such utilization not exceeding 25% of the amount raised in the issue.
The additional incentive will be a maximum of 0.20% per annum for all category of investors in the proposed issue, who are also holders of NCD or bond previously issued by our company, and/ or ECL Finance Ltd, Edelweiss Financial Services Ltd, Edelweiss Retail Finance Ltd and Edelweiss Finance & Investments Ltd as the case may be.
Equity shareholders of Edelweiss Financial Services Ltd would also be eligible for additional incentive.
The Issue will open on 6 April and close on 26 April with an option of early closure. The NCDs will be listed on BSE Ltd to provide liquidity to the investors. Equirus Capital Private Ltd and Edelweiss Financial Services Ltd are the lead manager to this Issue.
India’s water shortage has the most effect on the women in drought-prone regions who have to travel long distances to fetch water, consuming a lot of time and effort. To make the life of these villagers a little easier FlowGuard Plus has launched the #ShareALitre initiative this World Water Day where they will be providing water wheels and water purifiers to these villagers who lack access to safe drinking water.
