Edelweiss Group’s NBFC arm ECL Finance raises Rs 300 crore via non-convertible debentures

By: |
Published: May 19, 2019 4:53:40 PM

The base size of the issue was Rs 150 crore with an option to retain over-subscription of up to Rs 150 crore, aggregating to a total of Rs 300 crore.

Edelweiss Group, NBFC, ECL Finance, non convertible debentures, ECLF, markets newsEdelweiss Group’s NBFC arm ECL Finance raises Rs 300 crore via non-convertible debentures

Edelweiss Group Sunday said its NBFC arm ECL Finance Limited has raised over Rs 300 crore by issuing non-convertible debentures. “The public issue of secured redeemable non-convertible debentures by ECL Finance Ltd (ECLF), the NBFC arm of Edelweiss Group has been fully subscribed,” Edelweiss Financial Services Ltd said in a BSE filing. The first tranche of issue opened on May 10 and was scheduled to close on June 7.

The base size of the issue was Rs 150 crore with an option to retain over-subscription of up to Rs 150 crore, aggregating to a total of Rs 300 crore. “The tranche I issue has seen a keen interest from retail investors with the retail bucket being oversubscribed by 2.36 times with total collection of Rs 2,120 million,” the filing said, adding that the issue received close to 15,827 applications.

Read Also| 13 McDonald’s stores reopens in Delhi NCR, others to follow in “coming days and weeks,” says CPRL

ECL Finance Limited (ECLF) is a wholly-owned subsidiary of Edelweiss Financial Services Ltd (EFSL). “The overwhelming response to our NCD issue reflects the investor appetite for quality financial instruments,” said Rujan Panjwani, Executive Director, Edelweiss Financial Services Ltd.

ECLF is primarily engaged in the business of corporate lending, providing finance to industrial enterprises, SMEs and individuals, and investment in other securities.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition
FinancialExpress_1x1_Imp_Desktop