Edelweiss Fin. Serv.
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June 8 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL - ANNOUNCES 3 BILLION RUPEES PUBLIC ISSUE OF NON-CONVERTIBLE DEBENTURES
Source text: ID:nBSE49w90B
Further company coverage: EDEL.NS
(([email protected];;))
June 8 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL - ANNOUNCES 3 BILLION RUPEES PUBLIC ISSUE OF NON-CONVERTIBLE DEBENTURES
Source text: ID:nBSE49w90B
Further company coverage: EDEL.NS
(([email protected];;))
June 1 (Reuters) -
EDELWEISS ASSET RECONSTRUCTION COMPANY: ARUN MEHTA ASSUMES CHARGE AS MD CEO
Further company coverage: EDEL.NS
(([email protected];))
June 1 (Reuters) -
EDELWEISS ASSET RECONSTRUCTION COMPANY: ARUN MEHTA ASSUMES CHARGE AS MD CEO
Further company coverage: EDEL.NS
(([email protected];))
March 9 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
SUCCESSFULLY COMPLETED SALE OF 4.4% OF EAAA’S COMMON EQUITY
EAAA DIVESTMENT FOR A CONSIDERATION OF 3.75 BILLION RUPEES
Further company coverage: EDEL.NS
(([email protected];;))
March 9 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
SUCCESSFULLY COMPLETED SALE OF 4.4% OF EAAA’S COMMON EQUITY
EAAA DIVESTMENT FOR A CONSIDERATION OF 3.75 BILLION RUPEES
Further company coverage: EDEL.NS
(([email protected];;))
March 2 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
ANNOUNCES 3.5 BILLION RUPEES PUBLIC ISSUE OF SECURED REDEEMABLE NCDS
Source text: ID:nBSE3Th3qZ
Further company coverage: EDEL.NS
(([email protected];))
March 2 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
ANNOUNCES 3.5 BILLION RUPEES PUBLIC ISSUE OF SECURED REDEEMABLE NCDS
Source text: ID:nBSE3Th3qZ
Further company coverage: EDEL.NS
(([email protected];))
** India's Edelweiss Financial Services EDEL.NS gains as much as 8.6% to 120.89 rupees, highest since October 28
** Co's Q3 consol net profit more than doubles to 2.64 billion rupees ($29.2 million) year-on-year; interest income, however, falls 3.4% y/y
** EDEL up 10.3% YTD
($1 = 90.5130 Indian rupees)
(Reporting by Brijesh Patel in Bengaluru)
(([email protected]; Ph no. +91 9590227221;))
** India's Edelweiss Financial Services EDEL.NS gains as much as 8.6% to 120.89 rupees, highest since October 28
** Co's Q3 consol net profit more than doubles to 2.64 billion rupees ($29.2 million) year-on-year; interest income, however, falls 3.4% y/y
** EDEL up 10.3% YTD
($1 = 90.5130 Indian rupees)
(Reporting by Brijesh Patel in Bengaluru)
(([email protected]; Ph no. +91 9590227221;))
Aug 22 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
INVESTMENT BY WESTBRIDGE CAPITAL IN EDELWEISS ASSET MANAGEMENT FOR 15% STAKE
DEAL FOR A CONSIDERATION OF 4.50 BILLION RUPEES
Source text: ID:nBSE9knw4r
Further company coverage: EDEL.NS
(([email protected];))
Aug 22 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
INVESTMENT BY WESTBRIDGE CAPITAL IN EDELWEISS ASSET MANAGEMENT FOR 15% STAKE
DEAL FOR A CONSIDERATION OF 4.50 BILLION RUPEES
Source text: ID:nBSE9knw4r
Further company coverage: EDEL.NS
(([email protected];))
April 7 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
ANNOUNCES 2 BILLION RUPEES PUBLIC ISSUE OF SECURED REDEEMABLE NCDS
Source text: ID:nBSE7MqnjH
Further company coverage: EDEL.NS
(([email protected];;))
April 7 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
ANNOUNCES 2 BILLION RUPEES PUBLIC ISSUE OF SECURED REDEEMABLE NCDS
Source text: ID:nBSE7MqnjH
Further company coverage: EDEL.NS
(([email protected];;))
March 18 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS ASSET RECONSTRUCTION COMPANY - RBI APPROVES APPOINTMENT OF MYTHILI BALASUBRAMANIAN AS MD, CEO
Source text: ID:nBSE187ywH
Further company coverage: EDEL.NS
(([email protected];))
March 18 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS ASSET RECONSTRUCTION COMPANY - RBI APPROVES APPOINTMENT OF MYTHILI BALASUBRAMANIAN AS MD, CEO
Source text: ID:nBSE187ywH
Further company coverage: EDEL.NS
(([email protected];))
MUMBAI, March 7 (Reuters) - India's Edel Finance has accepted bids worth 5 billion rupees ($57.5 million) for bonds maturing in three years, three bankers said on Friday.
It will pay an annual coupon of 10.35% and had invited commitment bids for the issue earlier in the day, they said.
The company confirmed the details of the bond issue via an email.
Here is the list of deals reported so far on March 7:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Edel Finance | 3 years | 10.35 | 5 | March 7 | A+ (Icra) |
NABARD April 2030 reissue | 5 years and 1 month | 7.50 (yield) | 70 | March 7 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 86.9410 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
MUMBAI, March 7 (Reuters) - India's Edel Finance has accepted bids worth 5 billion rupees ($57.5 million) for bonds maturing in three years, three bankers said on Friday.
It will pay an annual coupon of 10.35% and had invited commitment bids for the issue earlier in the day, they said.
The company confirmed the details of the bond issue via an email.
Here is the list of deals reported so far on March 7:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Edel Finance | 3 years | 10.35 | 5 | March 7 | A+ (Icra) |
NABARD April 2030 reissue | 5 years and 1 month | 7.50 (yield) | 70 | March 7 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 86.9410 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
MUMBAI, March 6 (Reuters) - India's Edel Finance plans to raise 5 billion rupees ($57.5 million) through the sale of bonds maturing in three years, three bankers said on Thursday.
It will pay an annual coupon of 10.35% and has invited commitment bids for the issue on Friday, they said.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 6:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Edel Finance | 3 years | 10.35 | 5 | March 7 | A+ (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 86.9730 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
MUMBAI, March 6 (Reuters) - India's Edel Finance plans to raise 5 billion rupees ($57.5 million) through the sale of bonds maturing in three years, three bankers said on Thursday.
It will pay an annual coupon of 10.35% and has invited commitment bids for the issue on Friday, they said.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 6:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Edel Finance | 3 years | 10.35 | 5 | March 7 | A+ (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 86.9730 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
Adds RBI lifting restrictions on Kotak Mahindra Bank
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
KOTAK MAHINDRA BANK
The Reserve Bank of India on Wednesday lifted restrictions on Kotak Mahindra Bank KTKM.NS that had barred the lender from taking on new customers via its online and mobile banking channels, and from issuing new credit cards.
RBI had imposed business restrictions on the lender , asking it to stop adding clients through its online and mobile banking channels and issuing credit cards due to gaps in its IT infrastructure.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI, last month, removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
Adds RBI lifting restrictions on Kotak Mahindra Bank
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
KOTAK MAHINDRA BANK
The Reserve Bank of India on Wednesday lifted restrictions on Kotak Mahindra Bank KTKM.NS that had barred the lender from taking on new customers via its online and mobile banking channels, and from issuing new credit cards.
RBI had imposed business restrictions on the lender , asking it to stop adding clients through its online and mobile banking channels and issuing credit cards due to gaps in its IT infrastructure.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI, last month, removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI on Wednesday removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI on Wednesday removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
** Edelweiss Financial Services EDEL.NS gains as much as 2.8% to 142.5 rupees, highest since Oct. 1
** Co says Reserve Bank of India has lifted restrictions on unit Edelweiss Asset Reconstruction Co with immediate effect
** On May 29, RBI imposed curbs on EDEl's two entities over concerns of engagement with "evergreening" loans
** Stock set to extend gains to a third straight session
** EDEL up 79% YTD
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
** Edelweiss Financial Services EDEL.NS gains as much as 2.8% to 142.5 rupees, highest since Oct. 1
** Co says Reserve Bank of India has lifted restrictions on unit Edelweiss Asset Reconstruction Co with immediate effect
** On May 29, RBI imposed curbs on EDEl's two entities over concerns of engagement with "evergreening" loans
** Stock set to extend gains to a third straight session
** EDEL up 79% YTD
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
Dec 17 (Reuters) -
RBI: REMOVAL OF SUPERVISORY RESTRICTIONS: ECL FINANCE LIMITED AND EDELWEISS ASSET RECONSTRUCTION CO
RBI: DECIDED TO LIFT RESTRICTIONS ON ECL FINANCE, EDELWEISS ASSET RECONSTRUCTION COMPANY
Source text: [ID:]
Further company coverage: EDEL.NS
(([email protected];))
Dec 17 (Reuters) -
RBI: REMOVAL OF SUPERVISORY RESTRICTIONS: ECL FINANCE LIMITED AND EDELWEISS ASSET RECONSTRUCTION CO
RBI: DECIDED TO LIFT RESTRICTIONS ON ECL FINANCE, EDELWEISS ASSET RECONSTRUCTION COMPANY
Source text: [ID:]
Further company coverage: EDEL.NS
(([email protected];))
** Shares of Nuvama Wealth Management NUVA.NS slip 5.7% to 6,878 rupees
** Edel Finance and Ecap Equities have launched 17.3 billion rupees ($203.9 million) block share sale at floor price of 6,800 rupees, 6.8% discount to prev close, IFR reports
** Edel Finance, Ecap Equities exiting NUVA - IFR
** Edel Finance and Ecap Equities hold 3.74% and 3.58% in co, respectively
** About 4.3 mln shares change hands in most active session ever
** Nuvama Wealth did not immediately respond to Reuters request for comments on block deals
** NUVA shares up 91% YTD
($1 = 84.8650 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Shares of Nuvama Wealth Management NUVA.NS slip 5.7% to 6,878 rupees
** Edel Finance and Ecap Equities have launched 17.3 billion rupees ($203.9 million) block share sale at floor price of 6,800 rupees, 6.8% discount to prev close, IFR reports
** Edel Finance, Ecap Equities exiting NUVA - IFR
** Edel Finance and Ecap Equities hold 3.74% and 3.58% in co, respectively
** About 4.3 mln shares change hands in most active session ever
** Nuvama Wealth did not immediately respond to Reuters request for comments on block deals
** NUVA shares up 91% YTD
($1 = 84.8650 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
By Dharamraj Dhutia
MUMBAI, Dec 6 (Reuters) - India's five- to 10-year government bond yields remain an attractive bet as the central bank is set to cut policy rates in 2025, while shorter-duration notes could see some selling pressure, a fund manager with Edelweiss Asset Management said.
"Since the yield curve is relatively flat currently, from the risk-reward perspective the belly of the curve, which is the five-year to 10-year bonds, remains relatively attractive," said Dhawal Dalal, president and chief investment officer – fixed income.
The fund house manages debt assets worth 800 billion rupees ($9.45 billion) as of November end.
The Reserve Bank of India kept its key interest rate unchanged on Friday but cut the cash reserve ratio (CRR) that banks are required to hold, effectively easing monetary conditions as economic growth slows.
The CRR was cut by 50 basis points to 4%, effective in two tranches from fortnight starting on Dec. 14 and Dec. 28, and the move will infuse a total of 1.16 trillion rupees into the banking system and bring down rates.
Dalal said the RBI is expected to continue to inject liquidity through variable rate repo auctions (VRR), complementing the cut in cash reserve ratio.
"Gradually investors will increase duration by selling shorter end and buying longer end. That will keep short-term yields slightly elevated in the near term. Investing in the five-10 year bonds makes more sense from a risk-adjusted basis," Dalal said.
If global factors remain stable, India's 10-year benchmark bond yield could ease by as much as 25 basis points over the next four to six months, and trade in the 6.45%-6.50% band, he added.
The 10-year bond yield IN067934G=CC was at 6.74% as of 3:55 p.m. IST on Friday.
Talking about corporate bonds, the fund house finds corporate bonds maturing in one to three years attractive as spreads over government bonds are relatively attractive as compared to other segments.
"Credit spreads beyond five years are relatively tight from historical average perspective."
($1 = 84.6900 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)
(([email protected];))
By Dharamraj Dhutia
MUMBAI, Dec 6 (Reuters) - India's five- to 10-year government bond yields remain an attractive bet as the central bank is set to cut policy rates in 2025, while shorter-duration notes could see some selling pressure, a fund manager with Edelweiss Asset Management said.
"Since the yield curve is relatively flat currently, from the risk-reward perspective the belly of the curve, which is the five-year to 10-year bonds, remains relatively attractive," said Dhawal Dalal, president and chief investment officer – fixed income.
The fund house manages debt assets worth 800 billion rupees ($9.45 billion) as of November end.
The Reserve Bank of India kept its key interest rate unchanged on Friday but cut the cash reserve ratio (CRR) that banks are required to hold, effectively easing monetary conditions as economic growth slows.
The CRR was cut by 50 basis points to 4%, effective in two tranches from fortnight starting on Dec. 14 and Dec. 28, and the move will infuse a total of 1.16 trillion rupees into the banking system and bring down rates.
Dalal said the RBI is expected to continue to inject liquidity through variable rate repo auctions (VRR), complementing the cut in cash reserve ratio.
"Gradually investors will increase duration by selling shorter end and buying longer end. That will keep short-term yields slightly elevated in the near term. Investing in the five-10 year bonds makes more sense from a risk-adjusted basis," Dalal said.
If global factors remain stable, India's 10-year benchmark bond yield could ease by as much as 25 basis points over the next four to six months, and trade in the 6.45%-6.50% band, he added.
The 10-year bond yield IN067934G=CC was at 6.74% as of 3:55 p.m. IST on Friday.
Talking about corporate bonds, the fund house finds corporate bonds maturing in one to three years attractive as spreads over government bonds are relatively attractive as compared to other segments.
"Credit spreads beyond five years are relatively tight from historical average perspective."
($1 = 84.6900 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)
(([email protected];))
Oct 29 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
SEPT-QUARTER CONSOL NET PROFIT 1.1 BILLION RUPEES
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 28.32 BILLION RUPEES
Source text: ID:nBSEbqJ81J
Further company coverage: EDEL.NS
(([email protected];;))
Oct 29 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
SEPT-QUARTER CONSOL NET PROFIT 1.1 BILLION RUPEES
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 28.32 BILLION RUPEES
Source text: ID:nBSEbqJ81J
Further company coverage: EDEL.NS
(([email protected];;))
Oct 7 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL - ANNOUNCES 2 BILLION RUPEES PUBLIC ISSUE OF SECURED REDEEMABLE NON- CONVERTIBLE DEBENTURES
Source text for Eikon: ID:nBSE5jwBPl
Further company coverage: EDEL.NS
(([email protected];))
Oct 7 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL - ANNOUNCES 2 BILLION RUPEES PUBLIC ISSUE OF SECURED REDEEMABLE NON- CONVERTIBLE DEBENTURES
Source text for Eikon: ID:nBSE5jwBPl
Further company coverage: EDEL.NS
(([email protected];))
MUMBAI, June 11 (Reuters) - India's central bank has rejected Edelweiss Asset Reconstruction Company's request to reappoint Raj Kumar Bansal as its managing director and chief executive officer, the firm said in an exchange filing on Tuesday.
Bansal is currently the MD and CEO of Edelweiss ARC and is also the chairman of the Association of ARCs in India.
The Reserve Bank of India (RBI) on May 29 barred Edelweiss ARC and ECL Finance, an Edelweiss Group entity, from acquiring financial assets or undertaking structured transactions, saying they engaged in "evergreening" distressed loans.
Evergreening refers to a practice where new loans are given to stressed borrowers to enable them to repay existing loans.
The RBI has flagged concerns over the functioning of ARCs and has increased its supervision of regulated entities to ensure compliance and to prevent systemic risks.
RBI deputy governor Rajeshwar Rao last month stressed the need for strong governance frameworks, robust internal controls, and a strong compliance culture in ARCs.
(Reporting by Siddhi Nayak; Editing by Mrigank Dhaniwala)
(([email protected]; +91 22 6921 7848; Twitter: https://twitter.com/siddhiVnayak))
MUMBAI, June 11 (Reuters) - India's central bank has rejected Edelweiss Asset Reconstruction Company's request to reappoint Raj Kumar Bansal as its managing director and chief executive officer, the firm said in an exchange filing on Tuesday.
Bansal is currently the MD and CEO of Edelweiss ARC and is also the chairman of the Association of ARCs in India.
The Reserve Bank of India (RBI) on May 29 barred Edelweiss ARC and ECL Finance, an Edelweiss Group entity, from acquiring financial assets or undertaking structured transactions, saying they engaged in "evergreening" distressed loans.
Evergreening refers to a practice where new loans are given to stressed borrowers to enable them to repay existing loans.
The RBI has flagged concerns over the functioning of ARCs and has increased its supervision of regulated entities to ensure compliance and to prevent systemic risks.
RBI deputy governor Rajeshwar Rao last month stressed the need for strong governance frameworks, robust internal controls, and a strong compliance culture in ARCs.
(Reporting by Siddhi Nayak; Editing by Mrigank Dhaniwala)
(([email protected]; +91 22 6921 7848; Twitter: https://twitter.com/siddhiVnayak))
June 5 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
UNIT ECL FINANCE GETS TAX DEMAND OF 76.8 MILLION RUPEES
Source text for Eikon: ID:nNSE2VV6hK
Further company coverage: EDEL.NS
(([email protected];))
June 5 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
UNIT ECL FINANCE GETS TAX DEMAND OF 76.8 MILLION RUPEES
Source text for Eikon: ID:nNSE2VV6hK
Further company coverage: EDEL.NS
(([email protected];))
Updates May 29 story with comments from EARCL and ECL in paragraphs 7,8 and 11
MUMBAI, May 30 (Reuters) - India's central bank on Wednesday barred two Edelweiss Group companies from acquiring financial assets or undertaking structured transactions, saying they engaged in "evergreening" distressed loans.
Evergreening refers to a practice where new loans are given to stressed borrowers to enable them to repay existing loans. The RBI has publicly warned against the practice, which is typically aimed at masking the amount of stressed loans a firm holds.
The entities, Edelweiss Asset Reconstruction Co Ltd (EARCL) and non-bank firm ECL Finance (ECL), had entered into a series of structured transactions for evergreening stressed loans of ECL, the Reserve Bank of India said in a release.
The RBI added that the firms circumvented applicable regulations by using the platform of EARCL and connected alternative investment funds.
By taking over loans from non-lender entities of the group for ultimate sale to the group ARC, ECL allowed itself to be used as a conduit to bypass regulations, the RBI said.
According to the central bank's norms, asset reconstruction companies (ARC) can acquire financial assets only from banks and financial institutions.
EARCL said it is reviewing the RBI's order and will address the observations mentioned in it.
ECL Finance said it is complying with the recommendations and hoped to resolve the same within three weeks, as directed by the central bank.
Incorrect valuation of security receipts was also observed in both ECL and EARCL, the RBI said.
"Instead of taking meaningful remedial action to rectify the said deficiencies, it was observed that the group entities were resorting to new ways to circumvent regulations," the central bank said, directing them to ensure regulatory compliance "in letter and spirit at all times".
ECL Finance said the order will not have any material impact on its businesses, while EARCL said its resolution and recovery efforts will continue normally.
The RBI has increased supervision of regulated entities to prevent systemic risks and to ensure that regulations are followed.
RBI Deputy Governor Swaminathan J recently said that some ARCs were allowing themselves to be used for the evergreening of distressed assets.
(Reporting by Siddhi Nayak in Mumbai, additional reporting by NR Sethuraman in Bengaluru; Editing by Sohini Goswami)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Updates May 29 story with comments from EARCL and ECL in paragraphs 7,8 and 11
MUMBAI, May 30 (Reuters) - India's central bank on Wednesday barred two Edelweiss Group companies from acquiring financial assets or undertaking structured transactions, saying they engaged in "evergreening" distressed loans.
Evergreening refers to a practice where new loans are given to stressed borrowers to enable them to repay existing loans. The RBI has publicly warned against the practice, which is typically aimed at masking the amount of stressed loans a firm holds.
The entities, Edelweiss Asset Reconstruction Co Ltd (EARCL) and non-bank firm ECL Finance (ECL), had entered into a series of structured transactions for evergreening stressed loans of ECL, the Reserve Bank of India said in a release.
The RBI added that the firms circumvented applicable regulations by using the platform of EARCL and connected alternative investment funds.
By taking over loans from non-lender entities of the group for ultimate sale to the group ARC, ECL allowed itself to be used as a conduit to bypass regulations, the RBI said.
According to the central bank's norms, asset reconstruction companies (ARC) can acquire financial assets only from banks and financial institutions.
EARCL said it is reviewing the RBI's order and will address the observations mentioned in it.
ECL Finance said it is complying with the recommendations and hoped to resolve the same within three weeks, as directed by the central bank.
Incorrect valuation of security receipts was also observed in both ECL and EARCL, the RBI said.
"Instead of taking meaningful remedial action to rectify the said deficiencies, it was observed that the group entities were resorting to new ways to circumvent regulations," the central bank said, directing them to ensure regulatory compliance "in letter and spirit at all times".
ECL Finance said the order will not have any material impact on its businesses, while EARCL said its resolution and recovery efforts will continue normally.
The RBI has increased supervision of regulated entities to prevent systemic risks and to ensure that regulations are followed.
RBI Deputy Governor Swaminathan J recently said that some ARCs were allowing themselves to be used for the evergreening of distressed assets.
(Reporting by Siddhi Nayak in Mumbai, additional reporting by NR Sethuraman in Bengaluru; Editing by Sohini Goswami)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
BENGALURU, May 29 (Reuters) - The Reserve Bank of India on Wednesday directed Edelweiss Asset Reconstruction Company Limited to stop the acquisition of financial assets with immediate effect on concerns observed during the course of supervisory examinations.
The central bank also asked ECL Finance Ltd to not undertake any structured transactions with immediate effect.
(Reporting by Sethuraman NR in Bengaluru; Editing by Sohini Goswami)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
BENGALURU, May 29 (Reuters) - The Reserve Bank of India on Wednesday directed Edelweiss Asset Reconstruction Company Limited to stop the acquisition of financial assets with immediate effect on concerns observed during the course of supervisory examinations.
The central bank also asked ECL Finance Ltd to not undertake any structured transactions with immediate effect.
(Reporting by Sethuraman NR in Bengaluru; Editing by Sohini Goswami)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
May 1 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
UNIT GETS TAX DEMAND OF 287.8 MILLION RUPEES
Source text for Eikon: ID:nBSE2gZgfT
Further company coverage: EDEL.NS
(([email protected];;))
May 1 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
UNIT GETS TAX DEMAND OF 287.8 MILLION RUPEES
Source text for Eikon: ID:nBSE2gZgfT
Further company coverage: EDEL.NS
(([email protected];;))
April 8 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL SERVICES LTD - ANNOUNCES 2 BILLION RUPEES PUBLIC ISSUE OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES
EDELWEISS FINANCIAL SERVICES - AT LEAST 75% OF FUNDS RAISED TO BE USED FOR REPAYMENT/PREPAYMENT OF INTEREST, PRINCIPAL OF EXISTING BORROWINGS
Source text for Eikon: ID:nBSE4kYb2P
Further company coverage: EDEL.NS
(([email protected];;))
April 8 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL SERVICES LTD - ANNOUNCES 2 BILLION RUPEES PUBLIC ISSUE OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES
EDELWEISS FINANCIAL SERVICES - AT LEAST 75% OF FUNDS RAISED TO BE USED FOR REPAYMENT/PREPAYMENT OF INTEREST, PRINCIPAL OF EXISTING BORROWINGS
Source text for Eikon: ID:nBSE4kYb2P
Further company coverage: EDEL.NS
(([email protected];;))
Feb 12 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL SERVICES LTD DEC-QUARTER CONSOL NET PROFIT 1.25 BILLION RUPEES VERSUS 1.01 BILLION RUPEES
EDELWEISS FINANCIAL SERVICES LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 23.98 BILLION RUPEES VERSUS 21.18 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: EDEL.NS
(([email protected];))
Feb 12 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL SERVICES LTD DEC-QUARTER CONSOL NET PROFIT 1.25 BILLION RUPEES VERSUS 1.01 BILLION RUPEES
EDELWEISS FINANCIAL SERVICES LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 23.98 BILLION RUPEES VERSUS 21.18 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: EDEL.NS
(([email protected];))
MUMBAI, Jan 5 (Reuters) - India's Edelweiss Financial Services plans to raise up to 2.5 billion rupees ($30.07 million) through the public issue of non-convertible debentures, which includes a greenshoe option of 1.25 billion rupees, three bankers said on Friday.
The non-banking finance company's public issue will open for subscription on Tuesday and will close on Jan. 22.
The company is offering bonds maturing in 24 months, 36 months, 60 months and 120 months at annual coupon rates of 8.95%, 9.60%, 10.10% and 10.45%, respectively.
The bonds are rated A+ by Crisil and Icra Ratings.
($1 = 83.1350 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)
(([email protected]i))
MUMBAI, Jan 5 (Reuters) - India's Edelweiss Financial Services plans to raise up to 2.5 billion rupees ($30.07 million) through the public issue of non-convertible debentures, which includes a greenshoe option of 1.25 billion rupees, three bankers said on Friday.
The non-banking finance company's public issue will open for subscription on Tuesday and will close on Jan. 22.
The company is offering bonds maturing in 24 months, 36 months, 60 months and 120 months at annual coupon rates of 8.95%, 9.60%, 10.10% and 10.45%, respectively.
The bonds are rated A+ by Crisil and Icra Ratings.
($1 = 83.1350 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)
(([email protected]i))
BENGALURU, Dec 18 (Reuters) - India's Edelweiss Financial Services EDEL.NS on Monday said it has started the process of selling equity in its alternative asset management unit and plans to raise about 15 billion to 20 billion rupees ($180.69 million-$240.93 million) by a divesting 10%-20% stake.
The company is receiving significant interest for the stake sale in Edelweiss Alternative Asset Management (EAAM), and the process is likely to be concluded in four to five months, Edelweiss said in a statement.
The move to sell the stake will reduce the company's debt and improve its market value, it said.
Edelweiss Financial Services' net debt amounted to 152.20 billion rupees as of September-end, the company said in an investor filing in November.
EAAM's current assets under management stood at 500 billion rupees as of September-end and have grown at a compound annual growth rate of 31% since fiscal year 2017, Edelweiss said.
Separately, Edelweiss said the Indian securities appeal court last week dismissed an appeal filed by its former unit, Nuvama Clearing Services, in relation to a case on the handling of client securities as a clearing agent.
Nuvama Clearing has already earmarked 2.36 billion rupees with the clearing corporation of the stock exchange in relation to the case and will also explore legal options, Edelweiss said.
Edelweiss Financial Services shares, which are up 121% so far this year, fell as much as 8.8% in early trade before trimming some losses. They last traded 1.8% lower at 74.90 rupees.
($1 = 83.0100 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru; Editing by Sonia Cheema)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
BENGALURU, Dec 18 (Reuters) - India's Edelweiss Financial Services EDEL.NS on Monday said it has started the process of selling equity in its alternative asset management unit and plans to raise about 15 billion to 20 billion rupees ($180.69 million-$240.93 million) by a divesting 10%-20% stake.
The company is receiving significant interest for the stake sale in Edelweiss Alternative Asset Management (EAAM), and the process is likely to be concluded in four to five months, Edelweiss said in a statement.
The move to sell the stake will reduce the company's debt and improve its market value, it said.
Edelweiss Financial Services' net debt amounted to 152.20 billion rupees as of September-end, the company said in an investor filing in November.
EAAM's current assets under management stood at 500 billion rupees as of September-end and have grown at a compound annual growth rate of 31% since fiscal year 2017, Edelweiss said.
Separately, Edelweiss said the Indian securities appeal court last week dismissed an appeal filed by its former unit, Nuvama Clearing Services, in relation to a case on the handling of client securities as a clearing agent.
Nuvama Clearing has already earmarked 2.36 billion rupees with the clearing corporation of the stock exchange in relation to the case and will also explore legal options, Edelweiss said.
Edelweiss Financial Services shares, which are up 121% so far this year, fell as much as 8.8% in early trade before trimming some losses. They last traded 1.8% lower at 74.90 rupees.
($1 = 83.0100 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru; Editing by Sonia Cheema)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Dec 14 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL SERVICES LTD - CO SAYS NO FINANCIAL RELATIONSHIPS WITH JP INFRA MUMBAI, JP INFRA INDIA
EDELWEISS FINANCIAL SERVICES LTD - CO HAS NOT FINANCED PROJECTS LIKE JP DECK IN GOREGAON NEITHER ANYWHERE ELSE AS ALLEGED
Source text for Eikon: ID:nBSE5HmNLq
Further company coverage: EDEL.NS
(([email protected];;))
Dec 14 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL SERVICES LTD - CO SAYS NO FINANCIAL RELATIONSHIPS WITH JP INFRA MUMBAI, JP INFRA INDIA
EDELWEISS FINANCIAL SERVICES LTD - CO HAS NOT FINANCED PROJECTS LIKE JP DECK IN GOREGAON NEITHER ANYWHERE ELSE AS ALLEGED
Source text for Eikon: ID:nBSE5HmNLq
Further company coverage: EDEL.NS
(([email protected];;))
Oct 4 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL SERVICES LTD- ANNOUNCES PUBLIC ISSUE OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES FOR UPTO 2 BILLION RUPEES
Source text for Eikon: ID:nBSE65HPrx
Further company coverage: EDEL.NS
(([email protected];))
Oct 4 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:
EDELWEISS FINANCIAL SERVICES LTD- ANNOUNCES PUBLIC ISSUE OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES FOR UPTO 2 BILLION RUPEES
Source text for Eikon: ID:nBSE65HPrx
Further company coverage: EDEL.NS
(([email protected];))
MUMBAI, Sept 13 (Reuters) - India's Edelweiss Financial Services plans to raise up to 2 billion rupees ($24.11 million) through a public issue of bonds, two bankers said on Wednesday.
The issue will have a base size and a greenshoe option of 1 billion rupees each.
The proposed bonds are rated AA- by Crisil.
Trust Investment and Nuvama Wealth are the lead managers to this public issue.
The company had last tapped the public issue market in July, when it raised 2.6 billion rupees via bonds, Securities and Exchange Board of India data showed.
($1 = 82.9600 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)
MUMBAI, Sept 13 (Reuters) - India's Edelweiss Financial Services plans to raise up to 2 billion rupees ($24.11 million) through a public issue of bonds, two bankers said on Wednesday.
The issue will have a base size and a greenshoe option of 1 billion rupees each.
The proposed bonds are rated AA- by Crisil.
Trust Investment and Nuvama Wealth are the lead managers to this public issue.
The company had last tapped the public issue market in July, when it raised 2.6 billion rupees via bonds, Securities and Exchange Board of India data showed.
($1 = 82.9600 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)
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Popular questions
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What does Edelweiss Fin. Serv. do?
Edelweiss Financial Services Ltd is a diversified financial company in India offering services such as investment banking, equity broking, asset management, and wealth management to corporate, institutional, and high net worth clients.
Who are the competitors of Edelweiss Fin. Serv.?
Edelweiss Fin. Serv. major competitors are Prudent Corporate, UTI Asset Management, Shriram AMC, Vedant Asset, Anand Rathi Wealth, Aditya Birla Sun AMC, 360 One Wam. Market Cap of Edelweiss Fin. Serv. is ₹12,622 Crs. While the median market cap of its peers are ₹12,981 Crs.
Is Edelweiss Fin. Serv. financially stable compared to its competitors?
Edelweiss Fin. Serv. seems to be less financially stable compared to its competitors. Altman Z score of Edelweiss Fin. Serv. is 0.58 and is ranked 8 out of its 8 competitors.
Does Edelweiss Fin. Serv. pay decent dividends?
The company seems to pay a good stable dividend. Edelweiss Fin. Serv. latest dividend payout ratio is 34.65% and 3yr average dividend payout ratio is 35.29%
How strong is Edelweiss Fin. Serv. balance sheet?
Latest balance sheet of Edelweiss Fin. Serv. is strong. Strength was visible historically as well.
Is the profitablity of Edelweiss Fin. Serv. improving?
The profit is oscillating. The profit of Edelweiss Fin. Serv. is ₹658 Crs for TTM, ₹399 Crs for Mar 2025 and ₹421 Crs for Mar 2024.
Is Edelweiss Fin. Serv. stock expensive?
Yes, Edelweiss Fin. Serv. is expensive. Latest PE of Edelweiss Fin. Serv. is 22.06, while 3 year average PE is 20.65. Also latest Price to Book of Edelweiss Fin. Serv. is 2.61 while 3yr average is 1.53.
Has the share price of Edelweiss Fin. Serv. grown faster than its competition?
Edelweiss Fin. Serv. has given lower returns compared to its competitors. Edelweiss Fin. Serv. has grown at ~23.82% over the last 3yrs while peers have grown at a median rate of 37.98%
Is the promoter bullish about Edelweiss Fin. Serv.?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in Edelweiss Fin. Serv. is 32.26% and last quarter promoter holding is 32.69%
Are mutual funds buying/selling Edelweiss Fin. Serv.?
The mutual fund holding of Edelweiss Fin. Serv. is increasing. The current mutual fund holding in Edelweiss Fin. Serv. is 1.01% while previous quarter holding is 0.72%.