Opening Date
8 Jul 2024
Closing Date
22 Jul 2024
Yield
Upto 11%
Tenure
Upto 120 Months
Ongoing IPO
Opening Date
8 Jul 2024
Closing Date
22 Jul 2024
Time to close
Yield
Upto 11%
Tenure
Upto 120 Months
| Issue Size (Including Green Shoe Option) | 200 | ||
| Face Value | 1000 | ||
| Coupon | Upto 11% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 26 Jul 2024 | ||
| Listing Date (Tentative) | 29 Jul 2024 | ||
| Exchange Bid Time (24 Hours) | 10:00 to 17:00 | ||
Documents attached
*Allotment on first come first serve basis
Series | I | II | III | IV | V | VI | VII | VIII | IX | X | XI | XII |
Nature Of NCDs | Secured Redeemable Non-Convertible Debentures | |||||||||||
Who Can Apply | EVERYONE | |||||||||||
Tenure | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months | 60 Months | 120 Months | 120 Months | 120 Months |
Frequency of Interest payment | YEARLY | CUMULATIVE | MONTHLY | YEARLY | CUMULATIVE | MONTHLY | YEARLY | CUMULATIVE | YEARLY | MONTHLY | YEARLY | YEARLY |
Best Coupon Rate (% p.a.) for: | ||||||||||||
Category 1 | 9.50 % | -N.A.- | 9.57 % | 10 % | -N.A.- | 10.04 % | 10.50 % | -N.A.- | 10.50 % | 10.49 % | 11 % | 11 % |
Category 2 | 9.50 % | -N.A.- | 9.57 % | 10 % | -N.A.- | 10.04 % | 10.50 % | -N.A.- | 10.50 % | 10.49 % | 11 % | 11 % |
Category 3 | 9.50 % | -N.A.- | 9.57 % | 10 % | -N.A.- | 10.04 % | 10.50 % | -N.A.- | 10.50 % | 10.49 % | 11 % | 11 % |
Category 4 | 9.50 % | -N.A.- | 9.57 % | 10 % | -N.A.- | 10.04 % | 10.50 % | -N.A.- | 10.50 % | 10.49 % | 11 % | 11 % |
Effective Yield (% p.a.) for: | ||||||||||||
Category 1 | 9.50 % | 9.50 % | 10 % | 10 % | 10 % | 10.51 % | 10.49 % | 10.50 % | 10.50 % | 11 % | 10.99 % | 10.99 % |
Category 2 | 9.50 % | 9.50 % | 10 % | 10 % | 10 % | 10.51 % | 10.49 % | 10.50 % | 10.50 % | 11 % | 10.99 % | 10.99 % |
Category 3 | 9.50 % | 9.50 % | 10 % | 10 % | 10 % | 10.51 % | 10.49 % | 10.50 % | 10.50 % | 11 % | 10.99 % | 10.99 % |
Category 4 | 9.50 % | 9.50 % | 10 % | 10 % | 10 % | 10.51 % | 10.49 % | 10.50 % | 10.50 % | 11 % | 10.99 % | 10.99 % |
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BondsIndia is an online platform for fixed-income securities such as IPOs, bonds, 54EC bonds, and fixed deposits. With a cumulative pedigree of 50+ years in the bond market, we aim to democratize the market for common investors by stationing detailed insights, expert advice, and keeping a close watch on the market sentiment. BondsIndia brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive price before anyone else.
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Application process on BondsIndia platform is simple and seamless.
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Rs. 42920 Crs
EFSL was incorporated in 1995 as Edelweiss Capital Ltd. The company, on standalone basis, is primarily engaged in investment banking services and provides development, managerial and financial support to group entities.
On standalone basis, EFSLs reported networth stood at Rs 5,462.85 crore as on March 31, 2024. The company reported PAT of Rs 695 crore on total income of Rs 701 crore in fiscal 2024, as against Rs 2,388 crore on total income net off interest exp of Rs 2,786 crore in fiscal 2023.
The Edelweiss group comprised 28 subsidiaries and associates as on March 31, 2024. The number of companies has come down from 74 as on March 31, 2016, because of multiple factors such as sale, windup and merger among others. The group had 293 offices including 10 international offices in 6 locations in around 136 cities as on March 31, 2024. Furthermore, as part of streamlining its operating structure, the group has restructured the businesses into four verticals namely credit, insurance, asset management and asset reconstruction.
The group is present across various financial services businesses, including loans to individuals, mortgage finance loans against property and small ticket housing loans, MSME finance, alternative and domestic asset management, and life and general insurance. In addition, the Balance sheet Management Unit BMU focuses on liquidity and asset liability management.
On a consolidated basis, the group reported PAT of Rs 528 crore on a total income net off interest expense of Rs 6,815 crore for fiscal 2024, as against PAT of Rs 405 crore on a total income of Rs 6058 crore for fiscal 2023.
Adequate capitalisation, supported by multiple capital raises.
Edelweiss group has demonstrated its ability to raise capital from global investors across businesses, despite the tough macroeconomic environment. The group has raised Rs 4,400 crore since 2016 across lending, wealth management and asset management businesses. This has helped maintain the capital position, despite elevated credit costs and absorb the asset side risks. The groups networth stood at Rs 6309 crore as on March 31, 2024, as against Rs 8581 crore as on March 31, 2023 Rs 8,537 crore as on March 31, 2022. The networth reduced as 30% Nuvamau2019s networth was distributed to the shareholders of Edelweiss Financial Services Limited as part of the demerger.
Demonstrated ability to build significant competitive position across businesses.
The Edelweiss group is a diversified financial services player, with presence in four verticals i.e. credit wholesale and retail, insurance life and general, asset management, and asset reconstruction. The group has attained leading positions in the alternate asset and asset reconstruction businesses and is focusing on building market position in other businesses too, which should lend greater stability to earnings over a period of time.
Subdued profitability for current size and scale considering presence in multiple businesses.
Edelweiss Groupu2019s profitability has been lower compared to other large, financial sector groups. However, most of the businesses have been reporting profit since the last quarter of fiscal 2021.$The group reported PAT of Rs 528 crore in fiscal 2024 excluding any one off items as against PAT of Rs 406 crore in fiscal 2023. However, profitability in 2023 was supported by a one off item of revaluation gains and also accelerated provisions made basis the one off gain, excluding which the profit would have been Rs 248 crore for fiscal 2023.Return on average assets ROA was 1.2% for fiscal 2024 against 0.9% for fiscal 2023 and 0.5% for fiscal 2023 and fiscal 2022. The groups overall profitability is weighted down by losses in insurance businesses, however, ex insurance profit stood at Rs 808 crore for fiscal 2024 against Rs 730 crore for fiscal 2023 and Rs 523 crore for fiscal 2022.
Asset quality monitorable with elevated level of monitorable portfolio.
The groups overall gross loan book excluding monitorable portfolio net off on book gross stage III assets stood at Rs 5537 crore as on March 31, 2024, against Rs 7,548 crore as on March 31, 2023, and Rs 10,502 crore as on March 31, 2022. Of this, retail on book stood at Rs 4,261 crore Rs 3,795 crore and Rs 6,749 crore and remaining was wholesale book.$The group has been consciously running down the wholesale portfolio through various modes. While recoveries have contributed to this, the reduction has been primarily due to sell down to ARCs both internal and external and AIFs. Given the RBI restrictions, this process is likely to be slower than earlier.
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