EDELWEISS

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

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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

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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:

*Size includes base plus greenshoe for some issues

($1 = 86.9410 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

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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:

*Size includes base plus greenshoe for some issues

($1 = 86.9730 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

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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)

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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];))

Adds details from RBI's release in paragraph 2, background in 4 & 5

BENGALURU, Dec 17 (Reuters) - India's central bank on Tuesday lifted restrictions on two Edelweiss Group companies that barred them from acquiring financial assets or undertaking structured transactions.

The Reserve Bank of India (RBI) said it decided to lift the curbs after the companies engaged with the regulator over the concerns and after it was satisfied with the remedial measures taken by them.

RBI in May had penalised non-bank firm ECL Finance and Edelweiss Asset Reconstruction Co saying that they had entered into a series of structured transactions in 'evergreening' of distressed loans of ECL.

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.

(Reporting by Nishit Navin; Editing by Shailesh Kuber)

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** 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)

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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

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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

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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

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BENGALURU, May 30 (Reuters) - Shares of Edelweiss Financial Services EDEL.NS fell as much as 15.8% on Thursday, marking its sharpest intraday fall in more than four years, after India's central bank barred two of its units from acquiring financial assets or undertaking structured transactions.

The company's shares were down 12% as of 9:40 a.m. IST, having earlier hit its lowest level since April 1.

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 on Wednesday.

ECL Finance took over loans from non-lender entities of the Edelweiss Group to sell them to EARCL, circumventing regulations, the central bank added.

According to the central bank's norms, asset reconstruction companies (ARC) can acquire financial assets only from banks and financial institutions.

In an exchange filing, ECL Finance said the RBI order will not have any material impact on its businesses, while EARCL said its resolution and recovery efforts will continue normally.

(Reporting by Nishit Navin; Editing by Eileen Soreng)

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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)

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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

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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

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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

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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)

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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

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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

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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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By Bhakti Tambe

MUMBAI, Sept 11 (Reuters) - India's Edelweiss Alternatives has launched its first climate fund and is aiming to raise up to $500 million from overseas institutional investors, a senior executive told Reuters on Monday.

The climate fund, registered in Singapore, will invest in related projects of Indian companies, primarily in the form of equity, Subahoo Chordia, said Subahoo Chordia, president and head Real Assets Funds at Edelweiss Alternatives.

"We have started getting deal flows, and we are in the process of evaluating them," he added.

Edelweiss Alternatives said the corpus will be invested in projects including renewable energy, transmission infrastructure, electric vehicle infrastructure, green infrastructure, and water treatment, among others.

While the fund is initially targeting $500 million of corpus, the amount can exceed based on investor interest, Chordia said.

(Reporting by Bhakti Tambe; Editing by Tasim Zahid)

(([email protected]; Reuters Messaging: [email protected] Twiter: https://twitter.com/TambeBhakti))

MUMBAI, Aug 29 (Reuters) - India's Nido Home Finance, formerly known as Edelweiss Housing Finance, plans to raise at least 750 million rupees ($9.08 million) through the public issue of bonds, which will open for subscription on Wednesday, three merchant bankers said on Tuesday.

The company will issue bonds maturing in two years, three years, five years and 10 years, and will pay an annual coupon of 8.95%, 9.60%, 10.10% and 10.45%, respectively.

All the bonds will have an option of a monthly coupon payout.

The issue has a greenshoe option to retain an additional 750 million rupees and will close for subscription on Sept. 12.

The bonds are rated AA- by CRISIL and A+ by ICRA.

($1 = 82.6170 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)

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Aug 4 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:

• INDIA'S EDELWEISS FINANCIAL SERVICES JUNE-QUARTER CONSOL NET PROFIT 505.4 MILLION RUPEES VERSUS 263.8 MILLION RUPEES

• EDELWEISS FINANCIAL SERVICES JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 19.79 BILLION RUPEES VERSUS 11.73 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: EDEL.NS

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July 3 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:

• ANNOUNCES 3 BILLION RUPEES PUBLIC ISSUE OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURE

Source text for Eikon: ID:nBSE9xw7kK

Further company coverage: EDEL.NS

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June 29 (Reuters) - Edelweiss Financial Services Ltd EDEL.NS:

• APPROVED PUBLIC ISSUE OF NON-CONVERTIBLE DEBENTURES UPTO 3 BILLION RUPEES

Source text for Eikon: ID:nBSEM0lhM

Further company coverage: EDEL.NS

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MUMBAI, May 15 (Reuters) - India's Ecap Equities plans to raise 1.25 billion rupees ($15.28 million) each through the reissue of two zero-coupon bonds, one maturing in April 2026 and the other in February 2027, two merchant bankers said on Monday.

The company has invited bids from investors and bankers for the bond issuances on Wednesday, they said.

The bonds are rated AA by CRISIL and the issue will be settled on Thursday.

In April, the company raised 258 million rupees on the reissue of April 2026 bond at a yield of 11.91% and 257.5 million rupees on February 2027 reissue at a yield of 11.96%.

($1 = 81.7800 Indian rupees)

(Reporting by Bhakti Tambe)

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