ECL Finance Limited closes NCD Tranche I Issue, successfully mobilises over INR 3,000 million

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  • Retail category oversubscribed with a total collection of `INR 2120 million from more than 15000 applications across pan India
  • ~60% of total collection from the 5 & 10 years tenure

Mumbai, May 19, 2019: The Public Issue of Secured Redeemable Non-Convertible Debentures by ECL Finance Ltd (ECLF), the NBFC arm of Edelweiss Group has been fully subscribed. The issue successfully mobilized over `INR 3000 million within eight days.

The Tranche I Issue was opened on May 10th and was scheduled to close on June 7th. The base size of the issue was INR 1,500 million with an option to retain over-subscription up to INR 1,500 million aggregating to a total of INR 3,000 million.

The Tranche I Issue has seen a keen interest from retail investors with the retail bucket being oversubscribed by 2.36 times with total collection of ~ INR 2120 million. The Tranche I Issue received close to 15,827 applications pan India. 

Said Mr. Rujan Panjwani, Executive Director, Edelweiss Financial Services Ltd, “The overwhelming response to our NCD issue reflects the investor appetite for quality financial instruments.” 

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