edelweiss NCD offer

Edelweiss Housing Finance Public issue of 10% pa NCDs gets tremendous response and  was subscribed 3.25 x on the very first day. Also remarkable is the strong participation by retail and HNIs.

These are definite signals that signs interest  rates are headed south. The massive response comes in wake of the fact that  annualized yield on AA rated instruments available in the market is below 10% p.a. This also indicated strong confidence of investors in Edelweiss group as debentures are of 10 year duration.

The category which attracted most interest was series 6 , which offered 10% p.a.  interest for a 10 year period.

This also paves the way for similar public issue of NCDs in near future through rates may be notch lower

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