Country’s leading brokerage company Edelweiss Broking has given a great investment opportunity to the people looking for safe investment. The company on Tuesday announced Secured Redeemable Non Convertible Debentures (NCDs). Through this, the company has set a target of raising Rs 300 crore. The company said that the base price of this issue is Rs 150 crore, while under this issue, NCDs of face value of Rs 1000 will be issued. A green-shoe option of Rs 150 crore has been added with this issue. This means that if the company’s base issue of Rs 150 crore is subscribed, the company can raise another Rs 150 crore through the green-shoe option.
According to the company, investors investing in NCDs will get an interest of 8.75 per cent to 9.95 per cent. With this, investors have been given four investment options. Investors can invest for 24, 36, 40 and 120 months as per their convenience. Along with this, investors have been given the option of paying monthly, yearly and compound interest.
Along with this, the company has said that an additional interest of 0.20 percent per annum will be given to those investors who have already invested in NCDs, bonds issued by the company or any group company. These companies include Edelweiss Retail Finance and Edelweiss Finance & Investments and Edelweiss Financial Services.
According to the information given by the company, 90 per cent of the money raised through NCDs will be used to meet the working capital requirements on behalf of the company. The rest of the money will be used by the company to meet the general needs.
Let us tell you, this issue will open from July 5 to July 26. The company plans to list NCDs on BSC to provide liquidity facility to the investors. You can apply for investing in NCDs by visiting the Edelweiss website.