Edelweiss Financial Services’ wholly-owned subsidiary — ECL Finance has raised over Rs 300 crore by issuing non-convertible debentures (NCDs). The first tranche of issue opened on May 10 and was scheduled to close on June 7. The base size of the issue was Rs 150 crore with an option to retain over-subscription of up to Rs 150 crore, aggregating to a total of Rs 300 crore. The overwhelming response to company’s NCD issue reflects the investor appetite for quality financial instruments.
Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments – agency business and holding company activities.