Edelweiss Group has said that Edelweiss Retail Finance Limited (ERFL), the retail lending arm of the company has announced the public issue of NCDs of face value of INR 1000 each, aggregating up to INR 2500 million, with an option to retain over -subscription up to INR 2500 million, aggregating a total of INR 5000 million .
Commenting on this initiative, Anil Kothuri, Head–Edelweiss Retail Finance said, “ The credit needs of the SME sector have not been adequately addressed thus far. This is a significant opportunity which we are addressing through our rapidly expanding reach and customized product offerings in ERFL.”
The public issue of NCDs offers investors an opportunity to lock in at attractive yields ranging from 8.75 % p.a to 9.25 %. The NCDs also offer a tenure varying from 3 years to 10 years , with an option to receive interest monthly or annually .
Meanwhile, shares of the company were trading at Rs 257.50 apiece, down 2.44 per cent from the previous close at 11:11 hrs on BSE.