Edelweiss Broking plans to raise up to Rs 300 crore via non-convertible debentures to support working capital requirements.
The issue will open on July 5 and close on July 26 with an option of early closure, according to a statement released on Tuesday. The public issue of secured redeemable non-convertible debentures or bonds will have a face value of Rs 1,000 each. The issue has a base issue size of Rs 150 crore with an option to retain an oversubscription of up to Rs 150 crore, aggregating to Rs 300 crore.
These bonds will have a tenor of 24 months/36 months/60 months/120 months with various interest payment options -- monthly, annual and cumulative. The effective yields offered to investors are in the range of 8.75-9.95% per annum.
Equirus Capital and Edelweiss Financial Services are the lead managers of the issue. These bonds are proposed to be listed on BSE.
Edelweiss Broking is a technology-driven securities company in the country that offers a wide range of financial services, including broking services and distribution of financial products.
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