Edelweiss Housing Finance raises Rs 276 cr through a public issue of bonds

Ltd (EHFL) has raised around Rs 276 crore through a public issue of bonds that closed on Monday, a release said.

The public issue of secured redeemable non-convertible debentures (NCDs) has been successfully completed and the company has allotted 27,59,057 of the face value of Rs 1,000 each, amounting to Rs 275.91 crore, the company said in a release.

The issue met a significant demand from the retail segment, with total collections of Rs 173.93 crore. The issue also saw good interest from corporates and other investors.

“This is a demonstration of the faith that investors across categories have in our technology-powered business model and the appetite for high-quality financial papers that offer competitive interest rates,” Rajat Avasthi, MD & CEO, EHFL said.

The issue has seen interest from investors across series and tenures offering annual, monthly and cumulative interest options with the effective annual yield ranging from 8.49 per cent to 9.69 per cent per annum, he added.

The have been rated ‘CRISIL AA-/Negative’ and ‘ACUITE AA/Negative’. The bonds will be listed on BSE to provide liquidity to the investors, EHFL said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to…

Read more…