Opening Date
8 Apr 2024
Closing Date
23 Apr 2024
Yield
Upto 10.46%
Tenure
Upto 120 Months
Ongoing IPO
Opening Date
8 Apr 2024
Closing Date
23 Apr 2024
Time to close
Yield
Upto 10.46%
Tenure
Upto 120 Months
| Issue Size (Including Green Shoe Option) | 200 | ||
| Face Value | 1000 | ||
| Coupon | Upto 10.45% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 29 Apr 2024 | ||
| Listing Date (Tentative) | 2 May 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 | 9.00 % | -N.A.- | 9.20 % | 9.60 % | -N.A.- | 9.67 % | 10.10 % | -N.A.- | 10.10 % | 10.00 % | 10.45 % | 10.45 % |
Category 2 | 9.00 % | -N.A.- | 9.20 % | 9.60 % | -N.A.- | 9.67 % | 10.10 % | -N.A.- | 10.10 % | 10.00 % | 10.45 % | 10.45 % |
Category 3 | 9.00 % | -N.A.- | 9.20 % | 9.60 % | -N.A.- | 9.67 % | 10.10 % | -N.A.- | 10.10 % | 10.00 % | 10.45 % | 10.45 % |
Category 4 | 9.00 % | -N.A.- | 9.20 % | 9.60 % | -N.A.- | 9.67 % | 10.10 % | -N.A.- | 10.10 % | 10.00 % | 10.45 % | 10.45 % |
Effective Yield (% p.a.) for: | ||||||||||||
Category 1 | 9.00 % | 9.00 % | 9.60 % | 9.60 % | 9.60 % | 10.10 % | 10.09 % | 10.10 % | 10.10 % | 10.46 % | 10.44 % | 10.44 % |
Category 2 | 9.00 % | 9.00 % | 9.60 % | 9.60 % | 9.60 % | 10.10 % | 10.09 % | 10.10 % | 10.10 % | 10.46 % | 10.44 % | 10.44 % |
Category 3 | 9.00 % | 9.00 % | 9.60 % | 9.60 % | 9.60 % | 10.10 % | 10.09 % | 10.10 % | 10.10 % | 10.46 % | 10.44 % | 10.44 % |
Category 4 | 9.00 % | 9.00 % | 9.60 % | 9.60 % | 9.60 % | 10.10 % | 10.09 % | 10.10 % | 10.10 % | 10.46 % | 10.44 % | 10.44 % |
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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. 44,064 Crs
10.5%
2.1%
The Edelweiss group comprised 28 subsidiaries and associates as on September 30, 2023. 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, 2022. 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.
$$On a consolidated basis, the group reported PAT of Rs 406 crore on a total income of Rs 6,058 crore for fiscal 2023, as against PAT of Rs 212 crore on a total income of Rs 4,228 crore for fiscal 2022
$$For the first half of fiscal 2024, the group reported PAT of Rs 173 crore on a total income of Rs 2,819 crore as against PAT of Rs 112 crore on a total income of Rs 2,121 crore during similar period in previous fiscal.
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 groupu2019s networth stood at Rs 6282 crore as on September 30, 2023, 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.
The asset management business comprises mutual fund and alternate asset businesses. The group is a leading player in the alternate asset segment and its mutual fund AUM has been growing steadily. The asset management AUM grew to Rs 1,64,000 crore as on September 30, 2023, from Rs 1,51,500 crore as on March 31, 2023.
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 a PAT of Rs 406 crore in fiscal 2023 against Rs 212 crore and Rs 254 crore in fiscal 2022 and fiscal 2021 (loss of Rs 2,044 crore in fiscal 2020); However, profitability has been 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. Similarly, profitability for fiscal 2022 and fiscal 2021 was supported by capital gains on stake sale of Rs 306 crore in fiscal 2022 and Rs 1,406 crore in fiscal 2021 respectively.
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