Edelweiss Fin Services up nearly 4 pc after subsidiary raises funds

Edelweiss Financial Services shares rallied nearly 4 per cent on Monday after NBFC arm of Edelweiss Group raised Rs 515 crore through non-convertible debentures.

On the BSE, the stock rose 3.87 per cent to Rs 127.30.

The scrip was trading at Rs 127.50, up 3.78 per cent, on the NSE.

ECL Finance Ltd (ECLF), the NBFC arm of Edelweiss Group, raised Rs 515 crore in tranch II of public issue of secured redeemable non-convertible debentures, Edelweiss Financial Services said in a BSE filing on Sunday.

Tranch II issue has raised over Rs 500 crore with retail, HNI and corporate categories being oversubscribed, it added.

"The Public Issue of Secured Redeemable Non-Convertible Debentures by ECL Finance Ltd (ECLF), the NBFC arm of the Edelweiss Group, has been fully subscribed. The Tranche II issue has successfully mobilized over Rs 515 crore."