Edelweiss Financial Services to raise funds via public issue

MUMBAI (Reuters) – Edelweiss Financial Services plans to raise at least 2 billion rupees ($24.19 million) through the public issue of non-convertible debentures, according to a term sheet.

The company’s public issue will open for subscription on Tuesday and will close on Jan. 23. The issue also has a greenshoe option to retain an additional 2 billion rupees.

The company is offering bonds maturing in two years, three years, five years and 10 years at an annual coupon in the 9.00%-10.45% range for investors.

Equirus Capital Services is the lead manager for the bond issue, rated AA- by CRISIL.

($1 = 82.6625 Indian rupees)

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(Reporting by Bhakti Tambe; Editing by Sohini Goswami)