MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT
- In a regulatory filing submitted to the Indian Stock Exchanges, Mumbai headquartered financial services providing company Edelweiss Financial Services Ltd said of its 5 billion (~500 crore) rupees non-convertible debentures (NCD) issue is oversubscribed.
The filing alongwith press-release as submitted to the Indian Bourses, titled - "500 Crore NCD Issue of ECL Finance Limited Oversubscribed," further read that, the Tranche II issue has successfully mobilized over `INR 515 crore (~5.15 billion).
The Tranche II Issue opened on November 4th, 2019 and closed on November 22nd, 2019.
The base size of the issue was INR 100 crores with a green-shoe option of up to INR 400 crores.
The Tranche II Issue has seen significant demand in the Retail, HNI and Corporate segments with the issue receiving over 16,000 applications.
Each of the categories has been oversubscribed with the retail segment being oversubscribed nearly 1.5 times, against the expected issue size.
The Tranche II Issue also saw heightened interest from existing NCD investors with over 2000 applications being received in this segment.
OVERALL HIGHLIGHTS
- ✓ Tranche II Issue raises over INR 500 Crore with retail, HNI and corporate categories being oversubscribed
- ✓ Issue received tremendous response with over 16,000 applications pan India
- ✓ Almost 70% of the total Issue subscribed for 5- & 10-year tenures, as investors seek to invest for the long-term
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