Edelweiss announces Public issue of secured redeemable Non-convertible Debentures

Posted on Jan 11 2014 - 11:30pm by IBC News

ECL Finance Ltd., the NBFC arm of Edelweiss Financial Services Limited announced the public issue of Secured redeemable, Non Convertible Debentures(NCDs)  of face value ’100 each, aggregating to 2500 million, with an option to retain over subscription upto 2500 million aggregating to a total of 5000 million. The NCDs with a tenure ranging from 36 months to 60 months will pay an interest of up to 11.85% per annum.

Chairman CEO, Edel Financial Services Ltd, Mr rakesh Shah said “at close to 30% of GDP, India has one of the highest savings rates in the world. Yet, we are not nation of investors. A large chunk of savings have been channelized into non-financial assets like real estate or gold. Our latest NCD, with its attractive returns offer an opportunity for retail investors to make better investments”

Incorporated in July, 2005 with an establishes brand and parentage of Edelweiss Group with a professional and experienced senior management team has network of 10 branches with an employee strength of 329 as on Nov 30, 2013.

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