Opening Date
5 Sep 2022
Closing Date
20 Sep 2022
Yield
Upto 11.01%
Tenure
Upto 36 Months
Ongoing IPO
Opening Date
5 Sep 2022
Closing Date
20 Sep 2022
Time to close
Yield
Upto 11.01%
Tenure
Upto 36 Months
| Issue Size (Including Green Shoe Option) | 100 | ||
| Face Value | 1000 | ||
| Coupon | Upto 10.50% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 26 Sep 2022 | ||
| Listing Date (Tentative) | 28 Sep 2022 | ||
| Exchange Bid Time (24 Hours) | 10:00 to 16:55 | ||
Documents attached
*Allotment on first come first serve basis
Series | I | II | III |
Nature Of NCDs | Secured | ||
Who Can Apply | EVERYONE | ||
Tenure | 18 Months | 27 Months | 36 Months |
Frequency of Interest payment | QUARTERLY | QUARTERLY | MONTHLY |
Best Coupon Rate (% p.a.) for: | |||
Category 1 | 10.15 % | 10.35 % | 10.50 % |
Category 2 | 10.15 % | 10.35 % | 10.50 % |
Category 3 | 10.15 % | 10.35 % | 10.50 % |
Category 4 | 10.15 % | 10.35 % | 10.50 % |
Effective Yield (% p.a.) for: | |||
Category 1 | 10.53 % | 10.74 % | 11.01 % |
Category 2 | 10.53 % | 10.74 % | 11.01 % |
Category 3 | 10.53 % | 10.74 % | 11.01 % |
Category 4 | 10.53 % | 10.74 % | 11.01 % |
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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.
BondsIndia ditches the traditional ways of investing by offering a Technology based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose BondsIndia for its sleek interface, fail-safe communication and step-by-step guide to ensure a well-placed bid. You can apply for Edelweiss Financial Services Limited IPO on BondsIndia's website.
Place your bid in three simple steps:
Key in Basic Details
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Place the bid
Application process on BondsIndia platform is simple and seamless.
Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.
Rs 2969 crs
2.28%
1.70%
U GRO Capital Limited
U GRO Capital Limited is a non-deposit-taking systemically important NBFC registered with the RBI and the equity shares of the Company are listed on NSE and BSE.
U GRO Capital lends exclusively to MSMEs and caters to all the borrowing needs through its diverse range of product offerings like Term Loan (Secured and Unsecured), Supply Chain Financing, Machinery Loan, and Short-term financing through its multiple FinTech and NBFC Partners.
As of December 31, 2021,U GRO is operating from 14 prime branches and 68 micro branches with a total loan portfolio of Rs 2,589 crore and catering to 16,594 customers. Of the said loan portfolio, approx. 77% is in form of secured lending.
Products Offered
U GRO offers tech-enabled Flexi loan products and solutions to SMEs: $$1. Secured Business Loans $$2. Unsecured Business Loans $$3. Machinery Loans $$4. Supply Chain Finance $$5. Rental Discounting $$6. Business Credit Cards
Adequate Capitalization, Supported by Multiple Capital raises
The Edelweiss group has demonstrated its ability to raise capital from global investors across businesses, despite the tough macro environment. The group has raised Rs. 4,008 crore (of which Rs. 40 crore is expected in the last quarter of fiscal 2022), over the past 36 months across the lending, wealth management and asset management businesses. This has helped maintain the capital position, despite elevated credit cost, and absorb asset-side risk. With the scale-down of the lending business in the past few quarters, borrowings have also come down. With this, gearing has improved to 2.8 times as on December 31, 2021 (~3 times as on March 31, 2021) from ~4 times as on March 31, 2020.
Diversified financial services player, with demonstrated ability to build significant competitive positions across businesses
The Edelweiss group is a diversified financial services player, present in five verticals i.e., credit (wholesale and retail), insurance (life and general), asset management (AMC and alternate asset management), asset reconstruction and wealth management. The group has attained sizable scale in many of these businesses over a period, which is likely to lend greater stability to earnings over time.
Strong parentage
Edelweiss Group is promoted by Mr. Rashesh Shah and Mr. Venkat Ramaswamy, who are seasoned professionals in the financial services industry with over two decades of experience. The promoters are supported by experienced professionals who are into financing, wealth, and asset management businesses.
Moderation in profitability indicators
Asset quality remains vulnerable Overall stage III assets ratio rose to 4.9% (Rs. 657 crore) as on December 31, 2021, from 4.5% (Rs. 617 crore) as on September 30, 2021; yet remained below 7.7% reported as on March 31, 2021 (Rs. 1,182 crore). This is largely attributed to the clarification on recognition and calculation) released by the RBI on November 12, 2021, as the group has also aligned the stage III assets with gross NPAs; without considering the impact; on a like-to-like basis, the stage III assets have reduced.
Lower profitability than peers
Profitability has been lower than those of other large, financial sector groups. It was significantly impacted in fiscals 2021 and 2020, on account of higher credit cost. Around 20% of the capital (equity plus borrowings) is employed in businesses or investments that are either low-yielding or loss-making at this point. The group has a large investment portfolio under its balance sheet management unit (BMU), which is used for managing liquidity. This largely comprises government securities, fixed deposits, liquid mutual fund units and corporate bonds, which have a low return on capital employed. Furthermore, the life and general insurance businesses remain loss-making, given their long gestation periods. Breakeven in the insurance businesses, will benefit overall profitability over the medium term.
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