Prospectus | ||
D | December 29, 2023 | |
(Please scan this QR code | EDELWEISS FINANCIAL SERVICES LIMITED | |
to view the Prospectus) |
Edelweiss Financial Services Limited (the "Company" or "Issuer") was incorporated at Mumbai on November 21, 1995 as a public limited company with the name 'Edelweiss Capital Limited' under the provisions of the Companies Act, 1956. Thereafter, a certificate of commencement of business was issued to the Issuer by the Registrar of Companies Maharashtra, at Mumbai, ("RoC"), on January 16, 1996. Subsequently, the name of the Issuer was changed to 'Edelweiss Financial Services Limited' pursuant to a fresh certificate of incorporation issued by the RoC on August 1, 2011. For more information about the Issuer, please refer "General Information" and "History and Main Objects" on pages 49 and 136.
Registered & Corporate Office: Edelweiss House, Off C.S.T. Road, Kalina, Mumbai 400 098, Maharashtra, India; Tel.: +91 22 4079 5199; CIN: L99999MH1995PLC094641; PAN: AAACE1461E; Website: www.edelweissfin.com; Email: efslncd@edelweissfin.com Company Secretary and Compliance Officer: Mr. Tarun Khurana; Tel.: +91 22 4079 5199; Email: efslncd@edelweissfin.com
Chief Financial Officer: Ms. Ananya Suneja; Tel: +91 22 4079 5199; Email: efslncd@edelweissfin.com
PUBLIC ISSUE BY THE ISSUER OF 25,00,000 SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF ₹ 1,000 EACH ("NCDS" OR "DEBENTURES") FOR AN AMOUNT UP TO ₹ 1,250 MILLION ("BASE ISSUE SIZE") WITH A GREEN SHOE OPTION OF UP TO ₹ 1,250 MILLION, CUMULATIVELY AGGREGATING UP TO
- 2,500 MILLION ("ISSUE LIMIT") HEREINAFTER REFERRED TO AS THE "ISSUE". THE NCDs WILL BE ISSUED THE ON TERMS AND CONDITIONS AS SET OUT IN THIS PROSPECTUS FILED WITH THE ROC, STOCK EXCHANGES AND SECURITIES AND EXCHANGE BOARD OF INDIA ("SEBI"). THE ISSUE IS BEING MADE PURSUANT TO THE PROVISIONS OF SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE AND LISTING OF NON- CONVERTIBLE SECURITIES) REGULATIONS, 2021, AS AMENDED (THE "SEBI NCS REGULATIONS"), THE COMPANIES ACT, 2013 AND RULES MADE THEREUNDER AS AMENDED TO THE EXTENT NOTIFIED AND THE SEBI NCS MASTER CIRCULAR. THE ISSUE IS NOT UNDERWRITTEN.
OUR PROMOTERS
- Rashesh Chandrakant Shah; Email: efslncd@edelweissfin.com; Tel: +91 22 4079 5199; (ii) Venkatchalam A Ramaswamy; Email: efslncd@edelweissfin.com; Tel: +91 22 4079 5199, (iii) Vidya Shah; Email: efslncd@edelweissfin.com; Tel: +91 22 4079 5199; and (iv) Aparna T.C; Email: efslncd@edelweissfin.com; Tel: +91 22 4079 5199. For details of our Promoters, see "Our Promoter" on page 152.
GENERAL RISKS
Investment in non-convertible securities is risky and investors should not invest any funds in such securities unless they can afford to take the risk attached to such investments. Investors are advised to take an informed decision and to read the risk factors carefully before investing in this offering. For taking an investment decision, investors must rely on their examination of the issue including the risks involved in it. Specific attention of investors is invited to statement of risk factors contained under "Risk Factors" and "Material Developments" on page 17 and 174 respectively. These risks are not, and are not intended to be, a complete list of all risks and considerations relevant to the non-convertible securities or investor's decision to purchase such securities. This Prospectus has not been and will not be approved by any regulatory authority in India, including the Securities and Exchange Board of India ("SEBI"), the Reserve Bank of India ("RBI"), any registrar of companies or any stock exchange in Indian or do they guarantee the accuracy or adequacy of this document.
COUPON RATE, COUPON PAYMENT FREQUENCY, REDEMPTION DATE, REDEMPTION AMOUNT & ELIGIBLE INVESTORS
For details relating to Coupon Rate, Coupon Payment Frequency, Redemption Date, Redemption Amount & Eligible Investors of the NCDs, please refer to the section titled "Issue Related Information" on page 233.
CREDIT RATINGS
The NCDs proposed to be issued under the Issue have been rated "CRISIL A+/Stable (pronounced as CRISIL A plus rating with Stable outlook)" for an amount of ₹ 15,000 million by CRISIL vide their rating letter dated December 18, 2023 with rating rationale dated December 18, 2023. Securities with these ratings are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such securities carry low credit risk. The NCDs proposed to be issued under the Issue have also been rated "ICRA A+/rating watch with negative implications (pronounced as ICRA A plus placed on rating watch with negative implications)" for an amount of ₹ 8,680 million by ICRA vide their rating letter dated June 20, 2023, revalidated vide their letter dated December 12, 2023 and revised letter dated December 28, 2023 with rating rationale dated June 22, 2023. Securities with these ratings indicate adequate degree of safety regarding timely servicing of financial obligations. Such securities carry low credit risk. The ratings given by the Credit Rating Agency(s) is valid as on the date of this Prospectus and shall remain valid until the rating is revised or withdrawn. The rating is not a recommendation to buy, sell or hold securities and investors should take their own decision. The rating may be subject to revision or withdrawal at any time by the assigning rating agency and each rating should be evaluated independently of any other rating. The rating agency has a right to suspend or withdraw the rating at any time on the basis of factors such as new information. These rating is not a recommendation to buy, sell or hold securities and Investors should take their own decisions. Please refer to Annexure A and Annexure B of this Prospectus for the rating letter, rationale and press release of the above ratings. There are no unaccepted ratings and any other ratings other than as specified in this Prospectus.
LISTING
The NCDs offered through the Draft Prospectus and this Prospectus are proposed to be listed on BSE Limited ("BSE") and BSE shall be the Designated Stock Exchange. The Issuer has received an 'in- principle' approval from BSE vide their letter no. DCS/BM/PI-BOND/020/23-24 dated December 27, 2023.
PUBLIC COMMENTS
The Draft Prospectus dated December 18, 2023 was filed with the BSE, pursuant to the provisions of the SEBI NCS Regulations and was kept open for public comments for a period of seven Working Days (i.e., until 5:00 pm). No comments were received on the Draft Prospectus until 5pm on December 27, 2023.
LEAD MANAGERS TO THE ISSUE | REGISTRAR TO THE ISSUE | ||
Nuvama Wealth Management Limited# | KFIN TECHNOLOGIES LIMITED | ||
Trust Investment Advisors Private Limited | (formerly known as Kfin Technologies Private Limited) | ||
(formerly known as Edelweiss Securities Limited) | |||
109/110, Balarama, Bandra Kurla Complex, Bandra | Selenium Tower B, Plot 31-32, Financial District, Nanakramguda, | ||
801-804, Wing A, Building No 3, Inspire BKC, G Block, | |||
(East), Mumbai - 400 051, Maharashtra, India | Serilingampally, Hyderabad - 500 032, Telangana | ||
Bandra Kurla Complex, Bandra East, Mumbai - 400 051 | |||
Tel: +91 22 4084 5000 | Tel: +91 40 6716 2222 | ||
Tel: +91 22 4009 4400 | |||
Fax: +91 22 4084 5066 | Fax: +91 40 6716 1563 | ||
Email:projectpragati9.trust@trustgroup.in | Email: efsl.ncd@nuvama.com | Email:efsl.ncdipo@kfintech.com | |
Website: www.trustgroup.in | Investor Grievance Email: customerservice.mb@nuvama.com | Website: www.kfintech.com | |
Contact Person: Hani Jalan | Website: www.nuvama.com | Contact Person: M. Murali Krishna | |
Contact Person: Saili Dave | |||
DEBENTURE TRUSTEE TO THE ISSUE | CREDIT RATING AGENCY(S) | STATUTORY AUDITOR | |
Nangia & Co. LLP, Chartered Accountants | |||
4th Floor, Iconic Tower, Urmi Estate, 95 | |||
Beacon Trusteeship Limited* | CRISIL Ratings Limited | ICRA Limited | Ganpatrao Kadam Marg, Lower Parel |
7 A&B, Siddhivinayak Chambers, Gandhi Nagar, | CRISIL House, Central Avenue, | Electric Mansion, 3rd Floor, | (West), Mumbai 400 013 Maharashtra, |
Opp. MIG Cricket Club, Bandra (East), | Hiranandani Business Park, | Appasaheb Marathe Marg, | India |
Mumbai 400 051 | Powai, Mumbai 400076 | Prabhadevi, Mumbai 400025 | Tel: + 91 22 4474 3400 |
Tel.: +91 22 2655 8759 | Tel: + 91 22 3342 3000 | Tel: +91 22 6114 3406 | Email: info@nangia.com |
Email:contact@beacontrustee.co.in | Email:crisilratingdesk@crisil.com | Email:shivakumar@icraindia.com | Contact Person: Rakesh Nangia / Jaspreet Singh Bedi |
Website: www.beacontrustee.co.in | Website:www.crisil.com/ratings | Website:www.icra.in | |
Contact Person: Kaustubh Kulkarni | Contact Person: Ajit Velonie | Contact person: L Shivakumar |
ISSUE PROGRAMME**
ISSUE OPENS ON: JANUARY 9, 2024
ISSUE CLOSES ON: JANUARY 22, 2024
*Beacon Trusteeship Limited under Regulation 8 of SEBI NCS Regulations has by its letter dated December 12, 2023 given its consent for its appointment as Debenture Trustee to the Issue and for its name to be included in this Prospectus and the Draft Prospectus and in all the subsequent periodical communications sent to the holders of the NCDs issued pursuant to the Issue.
-
Nuvama Wealth Management Limited is deemed to be our associate as per the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, as amended ("Merchant Bankers Regulations"). Further, in compliance with the provisions of Regulation 21A and explanation to Regulation 21A of the Merchant Bankers Reg ulations, Nuvama Wealth Management Limited would be involved only in marketing of the Issue and as per Regulation 25 (3) of SEBI NCS Regulations and shall not issue a due diligence certificate, in relation to the issue of the NCDs.
** This Issue shall remain open for subscription on Working Days from 10:00 am to 5:00 pm (Indian Standard Time) during the period indicated in this Prospectus above, except that his Issue may close on such earlier date or extended date as may be decided by the Board of Directors of the Issuer or the Debenture Fund Raising Committee, thereof. Pursuant to Regulation 33A of the SEBI NCS Regulations, (i) the Issue shall be kept open for a minimum of three working days and a maximum of ten working days, (ii) in case of a revision in the price band or yield, the Issuer shall extend the Issue Period for a minimum period of three working days, provided that it shall not exceed the maximum number of days, as provided above in (i), and (ii) in case of force majeure, banking strike or similar circumstances, the Company may, for reasons to be recorded in writing, extend the Issue Period, provided that it shall not exceed the maximum number of days, as provided above in (i). In the event of an early closure or extension of this Issue the Issuer shall ensure that notice of the same is provided to the prospective investors through an advertisement in a daily national newspaper with wide circulation and a regional daily at the place where the registered office of the Issuer is situated on or before such earlier or initial date of Issue closure. Applications Forms for the Issue will be accepted only from 10:00 am to 5:00 pm or such extended time as may be permitted by BSE, on Working Days during the Issue Period. On the Issue Closing Date, the Application Forms will be accepted only between 10:00 am and 3:00 pm (Indian Standard Time) and uploaded until 5:00 pm or such extended time as may be permitted by BSE. Further, pending mandate requests for bids placed on the last day of bidding will be validated by 5:00 pm on one Working Day after the Issue Closing Date. For further details please refer to the section titled "General Information" on page 49.
A copy of the Prospectus shall be filed with the Registrar of Companies, Maharashtra at Mumbai in terms of Section 26 of Companies Act, 2013, along with the endorsed/certified copies of all requisite documents. For further details, please refer to the section titled "Material Contracts and Documents for Inspection" on page 306.
Table of Contents | |
CERTAIN CONVENTIONS, USE OF FINANCIAL, INDUSTRY AND MARKET DATA AND CURRENCY OF | |
PRESENTATION | 13 |
FORWARD LOOKING STATEMENTS | 16 |
SECTION II - RISK FACTORS | 17 |
SECTION III - INTRODUCTION | 49 |
GENERAL INFORMATION | 49 |
CAPITAL STRUCTURE | 60 |
OBJECTS OF THE ISSUE | 75 |
STATEMENT OF POSSIBLE TAX BENEFITS | 78 |
SECTION IV - ABOUT OUR COMPANY | 94 |
INDUSTRY OVERVIEW | 94 |
OUR BUSINESS | 114 |
HISTORY AND MAIN OBJECTS | 136 |
OUR MANAGEMENT | 139 |
OUR PROMOTER | 152 |
RELATED PARTY TRANSACTIONS | 155 |
REGULATIONS AND POLICIES | 156 |
SECTION V - FINANCIAL STATEMENTS | 173 |
FINANCIAL INFORMATION | 173 |
MATERIAL DEVELOPMENTS | 174 |
FINANCIAL INDEBTEDNESS | 175 |
SECTION VI - LEGAL AND OTHER INFORMATION | 189 |
OUTSTANDING LITIGATIONS | 189 |
OTHER REGULATORY AND STATUTORY DISCLOSURES | 216 |
SECTION VII - ISSUE RELATED INFORMATION | 233 |
ISSUE STRUCTURE | 233 |
TERMS OF THE ISSUE | 241 |
ISSUE PROCEDURE | 261 |
SECTION VIII - SUMMARY OF KEY PROVISIONS OF ARTICLES OF ASSOCIATION | 296 |
SECTION IX - MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION | 306 |
DECLARATION | 308 |
ANNEXURE A - CRISIL RATING, RATING RATIONALE AND PRESS RELEASE | 309 |
ANNEXURE B - ICRA RATING, REVALIDATION LETTER, REVISED LETTER, | 322 |
RATING RATIONLE AND PRESS RELEASE | |
ANNEXURE C - DEBENTURE TRUSTEE CONSENT LETTER | 341 |
ANNEXURE D - ILLUSTRATIVE CASHFLOWS | 345 |
SECTION I - GENERAL
DEFINITIONS AND ABBREVIATIONS
This Prospectus uses certain definitions and abbreviations which, unless the context otherwise indicates or implies, shall have the meaning ascribed to such definitions and abbreviations set forth herein. References to any legislation, act, regulation, rules, guidelines, clarifications or policies shall be to such legislation, act, regulation, rules, guidelines, clarifications or policies as amended, supplemented or re-enacted from time to time until the date of this Prospectus, and any reference to a statutory provision shall include any subordinate legislation notified from time to time pursuant to such provision.
The words and expressions used in this Prospectus but not defined herein shall have, to the extent applicable, the same meaning ascribed to such words and expressions under the SEBI NCS Regulations, the Companies Act, 2013, the SCRA, the Depositories Act and the rules and regulations notified thereunder.
General Terms: Unless the context otherwise requires, the following terms have the meaning as ascribed to them below:
Term | Description |
Associates | Associates of the Issuer as at and for the relevant financial year/period as applicable. |
"EFSL" or "Company" or | Edelweiss Financial Services Limited, a public limited company incorporated under the |
"the Issuer" | Companies Act, 1956, and having its Registered Office at Edelweiss House, Off C.S.T. |
Road, Kalina, Mumbai 400 098, Maharashtra, India. | |
"we" or "us" or "our" | Edelweiss Financial Services Limited together with its Subsidiaries, Associates and |
Trusts for the relevant financial year/period as applicable. | |
Subsidiaries | Subsidiaries of the Issuer as at and for the relevant financial year/period as applicable. |
For the details of the subsidiaries of the Issuer, as on the date of this Prospectus, see | |
"History and Main Objects" on page 136. | |
Trusts | Trusts of the Issuer as at and for the relevant financial year/period as applicable. |
For the details of the trusts of the Issuer, on the date of this Prospectus, see "History and | |
Main Objects" on page 136. |
Issuer Related Terms
Term | Description |
2021 Audited Consolidated | The annual consolidated balance sheet as at March 31, 2021 and the annual consolidated |
Ind AS Financial Statement | statement of profit and loss for the year ended 2021 and the annual consolidated |
statement of cash flows for the year ended 2021 and the annual consolidated statement | |
of changes in equity for the year ended 2021 of the Issuer prepared in accordance with | |
accounting principles generally accepted in India, including the Indian Accounting | |
Standards (Ind AS) specified under section 133 of the Companies Act, 2013 read with | |
the Companies (Indian Accounting Standards) Rules, 2015, as amended. | |
2022 Audited Consolidated | The annual consolidated balance sheet as at March 31, 2022 and the annual consolidated |
Ind AS Financial Statement | statement of profit and loss for the year ended 2022 and the annual consolidated |
statement of cash flows for the year ended 2022 and the annual consolidated statement | |
of changes in equity for the year ended 2022 of the Issuer prepared in accordance with | |
accounting principles generally accepted in India, including the Indian Accounting | |
Standards (Ind AS) specified under section 133 of the Companies Act, 2013 read with | |
the Companies (Indian Accounting Standards) Rules, 2015, as amended. | |
2023 Audited Consolidated | The annual consolidated balance sheet as at March 31, 2023 and the annual consolidated |
Ind AS Financial Statement | statement of profit and loss for the year ended 2023 and the annual consolidated |
statement of cash flows for the year ended 2023 and the annual consolidated statement | |
of changes in equity for the year ended 2023 of the Issuer prepared in accordance with | |
accounting principles generally accepted in India, including the Indian Accounting | |
Standards (Ind AS) specified under section 133 of the Companies Act, 2013 read with | |
the Companies (Indian Accounting Standards) Rules, 2015, as amended. | |
2021 Audited Standalone | The annual standalone balance sheet as at March 31, 2021 and the annual standalone |
Ind AS Financial Statement | statement of profit and loss for the year ended 2021 and the annual standalone statement |
of cash flows for the year ended 2021 and the annual standalone statement of changes in | |
equity for the year ended 2021 of the Issuer prepared in accordance with accounting | |
principles generally accepted in India, including the Indian Accounting Standards (Ind | |
AS) specified under section 133 of the Companies Act, 2013 read with the Companies | |
1 |
Term | Description | ||||
(Indian Accounting Standards) Rules, 2015, as amended. | |||||
2022 | Audited | Standalone | The annual standalone balance sheet as at March 31, 2022 and the annual standalone | ||
Ind AS Financial Statement | statement of profit and loss for the year ended 2022 and the annual standalone statement | ||||
of cash flows for the year ended 2022 and the annual standalone statement of changes in | |||||
equity for the year ended 2022 of the Issuer prepared in accordance with accounting | |||||
principles generally accepted in India, including the Indian Accounting Standards (Ind | |||||
AS) specified under section 133 of the Companies Act, 2013 read with the Companies | |||||
(Indian Accounting Standards) Rules, 2015, as amended. | |||||
2023 | Audited | Standalone | The annual standalone balance sheet as at March 31, 2023 and the annual standalone | ||
Ind AS Financial Statement | statement of profit and loss for the year ended 2023 and the annual standalone statement | ||||
of cash flows for the year ended 2023 and the annual standalone statement of changes in | |||||
equity for the year ended 2023 of the Issuer prepared in accordance with accounting | |||||
principles generally accepted in India, including the Indian Accounting Standards (Ind | |||||
AS) specified under section 133 of the Companies Act, 2013 read with the Companies | |||||
(Indian Accounting Standards) Rules, 2015, as amended. | |||||
Adjusted Networth | Networth along with Equity attributable to non-controlling interest. | ||||
Annual | Financial | Annual Consolidated Financial Statements and Annual Standalone Financial | |||
Statements | Statements. | ||||
Annual | Consolidated | 2021 Audited Consolidated Ind AS Financial Statement, 2022 Audited Consolidated Ind | |||
Financial Statements | AS Financial Statement and 2023 Audited Consolidated Ind AS Financial Statement. | ||||
Annual | Standalone | 2021 Audited Standalone Ind AS Financial Statement, 2022 Audited Standalone Ind AS | |||
Financial Statements | Financial Statement and 2023 Audited Standalone Ind AS Financial Statement. | ||||
Articles | or | Articles | of | Articles of Association of the Issuer. | |
Association or AOA | |||||
Audit Committee | Audit committee of the Board of Directors. | ||||
Auditors | or | Statutory | The current statutory auditors of the Issuer, Nangia & Co. LLP, Chartered Accountants. | ||
Auditors | |||||
Board or Board of Directors | Board of Directors of the Issuer or any duly constituted committee thereof. | ||||
or our Board or our Board | |||||
of Directors | |||||
Corporate | Social | Corporate Social Responsibility Committee of the Board of Directors. | |||
Responsibility Committee | |||||
Committee | A committee constituted by the Board, from time to time. | ||||
Debenture Fund Raising | Debenture Fund Raising Committee as constituted by the Board of Directors. | ||||
Committee | |||||
Directors | Directors of the Issuer. | ||||
Equity Shares | Equity shares of the Issuer of face value of ₹ 1 each. | ||||
ESOPs | Employee stock options. | ||||
Executive Director | Executive director(s) of the Issuer, as disclosed under "Our Management" on page 139. | ||||
HY Fiscal 2024 | The financial period from April 1, 2023 to September 30, 2023 | ||||
HY | 2024 | Unaudited | The unaudited consolidated financial information of the Issuer as at and for the half year | ||
Consolidated | Financial | period ended September 30, 2023 in the manner and format required by the SEBI Listing | |||
Results | Regulations. | ||||
HY | 2024 | Unaudited | The unaudited standalone financial information of the of the Issuer as at and for the half | ||
Standalone | Financial | year period ended September 30, 2023 in the manner and format required by SEBI | |||
Results | Listing Regulations. | ||||
HY | 2024 | Unaudited | HY 2024 Unaudited Consolidated Financial Results and HY 2024 Unaudited Standalone | ||
Financial Results | Financial Results. | ||||
Independent Director(s) | The independent director(s) on our Board, in terms of Section 2(47) and Section 149(6) | ||||
of the Companies Act, 2013 and SEBI Listing Regulations. | |||||
KMP | / | Key | Managerial | Key managerial personnel of the Issuer as disclosed in this Prospectus and appointed in | |
Personnel | accordance with Key Managerial Personnel, as defined under Section 2(51) of the | ||||
Companies Act, 2013. | |||||
LAP | Loan against property. | ||||
"MoA" or "Memorandum" | Memorandum of Association of the Issuer. | ||||
or | "Memorandum | of | |||
Association" | |||||
Networth | As defined in Section 2(57) of the Companies Act, 2013, as follows: | ||||
"Networth means the aggregate value of the paid-up share capital and all reserves | |||||
created out of the profits, securities premium account and debit or credit balance of | |||||
2 |
Term | Description | |||
profit and loss account, after deducting the aggregate value of the accumulated losses, | ||||
deferred expenditure and miscellaneous expenditure not written off, as per the audited | ||||
balance sheet but does not include reserves created out of revaluation of assets, write | ||||
back of depreciation and amalgamation." | ||||
Nomination | and | Nomination and Remuneration Committee of the Board of Directors. | ||
Remuneration Committee | ||||
Non-Executive Director | Non-executive director(s) of the Issuer, as disclosed under "Our Management", | |||
beginning on page 139. | ||||
Preference Shares | Preference Shares of the Issuer having face value of ₹ 5 each. | |||
Promoter Group | Includes such persons and entities constituting the promoter group of the Issuer | |||
pursuant to Regulation 2 (1) (pp) of the SEBI ICDR Regulations. | ||||
Promoters or our Promoter | Rashesh Chandrakant Shah, Venkatchalam A Ramaswamy, Vidya Shah and Aparna | |||
T.C. | ||||
Public Issue 1 | Public issue of secured redeemable non-convertible debentures of face value ₹ 1,000 each | |||
aggregating to ₹ 2,000 million pursuant to the prospectus dated December 17, 2020. | ||||
Public Issue 2 | Public issue of secured redeemable non-convertible debentures of face value ₹ 1,000 | |||
each aggregating to ₹ 4,000 million pursuant to the prospectus dated March 26, 2021. | ||||
Public Issue 3 | Public issue of secured redeemable non-convertible debentures of face value ₹ 1,000 | |||
each aggregating to ₹ 4,000 million pursuant to the prospectus dated August 9, 2021. | ||||
Public Issue 4 | Public issue of secured redeemable non-convertible debentures of face value ₹ 1,000 | |||
each aggregating to ₹ 5,000 million pursuant to the tranche I prospectus dated November | ||||
29, 2021. | ||||
Public Issue 5 | Public issue of secured redeemable non-convertible debentures of face value ₹ 1,000 | |||
each aggregating to ₹ 4,000 million pursuant to the tranche II prospectus dated | ||||
September 26, 2022. | ||||
Public Issue 6 | Public issue of secured redeemable non-convertible debentures of face value ₹ 1,000 | |||
each aggregating to ₹ 4,000 million pursuant to the tranche I prospectus dated December | ||||
27, 2022. | ||||
Public Issue 7 | Public issue of secured redeemable non-convertible debentures of face value ₹ 1,000 | |||
each aggregating to ₹ 4,000 million pursuant to the tranche II prospectus dated March | ||||
31, 2023. | ||||
Public Issue 8 | Public issue of secured redeemable non-convertible debentures of face value of ₹ 1,000 | |||
each aggregating to ₹ 3,000 million pursuant to the tranche III prospectus dated June 28, | ||||
2023. | ||||
Public Issue 9 | Public issue of secured redeemable non-convertible debentures of face value of ₹ 1,000 | |||
each aggregating to ₹ 2,000 million pursuant to the prospectus dated September 22, | ||||
2023. | ||||
Registered Office | The registered office of the Issuer is situated at Edelweiss House, Off C.S.T. Road, | |||
Kalina, Mumbai 400 098, Maharashtra, India. | ||||
Risk Committee | Risk Committee of the Board of Directors. | |||
Senior Management | The officers and personnel of the Issuer who are members of its core management team, | |||
excluding the Board of Directors, and shall also comprise all the members of the | ||||
management one level below the chief executive officer or managing director or whole | ||||
time director or manager (including chief executive officer and manager, in case they | ||||
are not part of the Board of Directors) and shall specifically include the functional heads, | ||||
by whatever name called and the company secretary and the chief financial officer. | ||||
Stakeholders' | Relationship | Stakeholders' Relationship Committee as constituted by the Board of Directors. | ||
Committee | ||||
Total Borrowing(s) / Total | Debt securities, borrowings (other than debt securities), deposits and subordinated | |||
Debt | liabilities. | |||
Issue Related Terms | ||||
Term | Description | |||
Abridged Prospectus | A memorandum containing the salient features of the Prospectus. | |||
Acknowledgement | Slip/ | The slip or document issued by the Designated Intermediary to an Applicant as proof | ||
Transaction | Registration | of registration of the Application Form. | ||
Slip/ TRS | ||||
Allotment Advice | The communication sent to the Allottees conveying the details of NCDs allotted to the | |||
Allottees in accordance with the Basis of Allotment. | ||||
3 |
Term | Description | ||
"Allotment", | "Allot" or | Unless the context otherwise requires, the allotment of NCDs to the successful | |
Allotted | Applicants pursuant to the Issue. | ||
Allottee(s) | The successful Applicant to whom the NCDs are Allotted either in full or part, pursuant | ||
to the Issue. | |||
"Applicant" or "Investor" | Any person who applies for issuance and Allotment of NCDs through ASBA process | ||
or through UPI Mechanism pursuant to the terms of this Prospectus and Draft the | |||
Prospectus, the Abridged Prospectus and the Application Form. | |||
"Application" | or | "ASBA | An application (whether physical or electronic) to subscribe to the NCDs offered |
Application" | pursuant to the Issue by submission of a valid Application Form and authorising an | ||
SCSB to block the Application Amount in the ASBA Account or to block the | |||
Application Amount using the UPI Mechanism, where the Bid Amount will be blocked | |||
upon acceptance of UPI Mandate Request by retail investors for an Application Amount | |||
of upto ₹ 500,000 which will be considered as the application for Allotment in terms of | |||
the Prospectus. | |||
Application Amount | The aggregate value of the NCDs applied for, as indicated in the Application Form for | ||
the Issue. | |||
Application Form / ASBA | Form in terms of which an Applicant shall make an offer to subscribe to NCDs through | ||
Form | the ASBA process or through the UPI Mechanism and which will be considered as the | ||
Application for Allotment of NCDs in terms of this Prospectus. | |||
ASBA Account | An account maintained with a SCSB and specified in the Application Form which will | ||
be blocked by such SCSB to the extent of the Application Amount mentioned in the | |||
Application Form by an Applicant and will include a bank account of a retail individual | |||
investor linked with UPI, for retail individual investors submitting application value | |||
upto ₹ 500,000. | |||
Banker(s) to the Issue | Collectively Public Issue Account Bank, Refund Bank and Sponsor Bank. | ||
Base Issue Size | ₹ 1,250 million | ||
Basis of Allotment | The basis on which NCDs will be allotted to successful applicants as specified under | ||
the Issue and which is described in "Issue Procedure - Basis of Allotment" on page 292. | |||
Bidding Centres | Centres at which the Designated Intermediaries shall accept the Application Forms, i.e., | ||
Designated Branches of SCSB, Specified Locations for Members of the Syndicate, | |||
Broker Centres for Registered Brokers, Designated RTA Locations for RTAs and | |||
Designated CDP Locations for CDPs. | |||
Broker Centres | Broker centres notified by the Stock Exchange where Applicants can submit the ASBA | ||
Forms (including ASBA Forms under UPI in case of UPI Investors) to a Registered | |||
Broker. The details of such Broker Centres, along with the names and contact details of | |||
the Trading Members are available on the websites of the Stock Exchange at: | |||
www.bseindia.com. | |||
CAAPL | CARE Analytics & Advisory Private Limited. | ||
CAAPL Research Report | Industry report titled "Industry Report on Financial Services Sector" dated December | ||
13, 2023, prepared by CAAPL. | |||
Category I | (Institutional | • Public financial institutions, scheduled commercial banks, Indian multilateral and | |
Investors) | bilateral development financial institutions which are authorised to invest in the | ||
NCDs; | |||
• Provident funds and pension funds each with a minimum corpus of ₹ 250 million, | |||
superannuation funds and gratuity funds, which are authorised to invest in the NCDs; | |||
• Alternative Investment Funds, subject to investment conditions applicable to them | |||
under the Securities and Exchange Board of India (Alternative Investment Funds) | |||
Regulations, 2012; | |||
• Resident Venture Capital Funds registered with SEBI; | |||
• Insurance companies registered with the IRDAI; | |||
• State industrial development corporations; | |||
• Insurance funds set up and managed by the army, navy, or air force of the Union of | |||
India; | |||
• Insurance funds set up and managed by the Department of Posts, the Union of India; | |||
• systemically important non-banking financial companies; | |||
• National Investment Fund set up by resolution no. F.No. 2/3/2005-DDII dated | |||
November 23, 2005 of the Government of India published in the Gazette of India; and | |||
• Mutual funds registered with SEBI. | |||
Category | II | (Non | • Companies within the meaning of Section 2(20) of the Companies Act, 2013; |
Institutional Investors) | statutory bodies/ corporations and societies registered under the applicable laws in | ||
4 |
Term | Description | |||||||||||
India and authorised to invest in the NCDs; | ||||||||||||
• Co-operative banks and regional rural banks; | ||||||||||||
• Trusts including public/private charitable/religious trusts which are authorised to | ||||||||||||
invest in the NCDs; | ||||||||||||
• Scientific and/or industrial research organisations, which are authorised to invest in | ||||||||||||
the NCDs; | ||||||||||||
• Partnership | firms | in | the | name | of | the | partners; | |||||
Limited liability partnerships formed and registered under the provisions of the | ||||||||||||
Limited Liability Partnership Act, 2008 (No. 6 of 2009). | ||||||||||||
• Association of Persons; and | ||||||||||||
• Any other incorporated and/ or unincorporated body of persons. | ||||||||||||
Category | III (High Net | Resident Indian individuals or Hindu Undivided Families through the Karta applying | ||||||||||
Worth Individual Investors) | for an amount aggregating to above ₹ 10,00,000 across all options of NCDs in the Issue. | |||||||||||
Category | IV | (Retail | Resident Indian individuals or Hindu Undivided Families through the Karta applying | |||||||||
Individual Investors) | for an amount aggregating up to and including ₹ 10,00,000 across all options of NCDs | |||||||||||
in the Issue and shall include Retail Individual Investors, who have submitted bid for | ||||||||||||
an amount not more than ₹ 500,000 in any of the bidding options in the Issue (including | ||||||||||||
HUFs applying through their Karta and does not include NRIs) though UPI Mechanism. | ||||||||||||
CIBIL | TransUnion CIBIL Limited. | |||||||||||
Client ID | Client identification number maintained with one of the Depositories in relation to the | |||||||||||
demat account. | ||||||||||||
Consortium Agreement | Agreement dated December 29, 2023, between our Company, the Lead Managers and | |||||||||||
the Consortium Members. | ||||||||||||
Consortium Members | Trust Financial Consultancy Services Private Limited; and | |||||||||||
Trust Securities Services Private Limited; and | ||||||||||||
Nuvama Wealth and Investment Limited (formerly known as Edelweiss Broking | ||||||||||||
Limited) | ||||||||||||
"Collecting | Depository | A depository participant as defined under the Depositories Act, 1996, registered with | ||||||||||
Participant" or "CDP" | SEBI and who is eligible to procure Applications in the Issue, at the Designated CDP | |||||||||||
Locations in terms of the SEBI NCS Master Circular. | ||||||||||||
Credit Rating Agency(s) | CRISIL and ICRA | |||||||||||
Debentures / NCDs | Secured Redeemable Non-Convertible Debentures of face value of ₹ 1,000 each. | |||||||||||
Debenture Holder(s)/ NCD | The holders of the NCDs whose name appears in the database of the Depository and/or | |||||||||||
Holder(s) | the register of NCD Holders (if any) maintained by the Issuer if required under | |||||||||||
applicable law. | ||||||||||||
Debenture Trust Deed | The trust deed to be entered between the Debenture Trustee and the Issuer which shall | |||||||||||
be executed in relation to the NCDs within the time limit prescribed by applicable | ||||||||||||
statutory and/or regulatory requirements, including creation of appropriate security, in | ||||||||||||
favour of the Debenture Trustee for the NCD Holders on the assets adequate to ensure | ||||||||||||
at least 100% security cover for the NCDs and the interest due thereon issued pursuant | ||||||||||||
to the Issue. The contents of the Debenture Trust Deed shall be as prescribed by SEBI | ||||||||||||
or any other applicable statutory/regulatory body from time to time. | ||||||||||||
Debenture Trustee/ Trustee | Trustees for the NCD holders, in this case being Beacon Trusteeship Limited. | |||||||||||
Debenture | Trustee | Agreement dated December 12, 2023 entered into between the Debenture Trustee and | ||||||||||
Agreement | the Issuer wherein the appointment of the Debenture Trustee, is agreed as between the | |||||||||||
Issuer and the Debenture Trustee. | ||||||||||||
Deemed Date of Allotment | The date on which the Board/or the Debenture Fund Raising Committee approves the | |||||||||||
Allotment of NCDs or such date as may be determined by the Board of Directors/or the | ||||||||||||
Debenture Fund Raising Committee and notified to the Designated Stock Exchange. | ||||||||||||
The actual Allotment of NCDs may take place on a date other than the Deemed Date of | ||||||||||||
Allotment. However, all benefits relating to the NCDs including interest on NCDs shall | ||||||||||||
be available to the Debenture Holders from the Deemed Date of Allotment. | ||||||||||||
Demographic Details | The demographic details of the Applicants such as their respective addresses, email, | |||||||||||
PAN, investor status, MICR Code and bank account detail. | ||||||||||||
Designated Branches | Such branches of the SCSBs which shall collect the Application Forms, a list of which | |||||||||||
is | available | on | the | website | of | the | SEBI | at: | ||||
https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmI | ||||||||||||
d=34 or at such other websites as may be prescribed by SEBI from time to time. | ||||||||||||
Designated CDP Locations | Such locations of the CDPs where Applicants can submit the ASBA Forms, a list of | |||||||||||
which, along with names and contact details of the Collecting Depository Participants | ||||||||||||
eligible to accept ASBA Forms are available on the website of the Stock Exchange at | ||||||||||||
www.bseindia.com. | ||||||||||||
5 |
Term | Description | ||
Designated Date | The date on which the funds blocked by the SCSBs are transferred from the ASBA | ||
Accounts to the Public Issue Account and/or the Refund Account, as appropriate, after | |||
finalization of the Basis of Allotment, in terms of the Prospectus following which | |||
the NCDs will be Allotted in the Issue. | |||
Designated Intermediaries | Collectively, the Lead Managers, the Consortium Members, Trading Members, agents, | ||
SCSBs, Registered Brokers, CDPs and RTAs, who are authorized to collect Application | |||
Forms from the Applicants in the Issue. | |||
Designated RTA Locations | Such locations of the CRTAs where Applicants can submit the ASBA Forms to CRTAs, | ||
a list of which, along with names and contact details of the CRTAs eligible to accept | |||
ASBA Forms are available on the website of the Stock Exchange. | |||
Designated | Stock | The designated stock exchange for the Issue, being BSE Limited. | |
Exchange | |||
Direct Online Application | An online interface enabling direct applications through UPI by an app based/web | ||
interface, by investors to a public issue of debt securities with an online payment | |||
facility. | |||
Draft Prospectus | The Draft Prospectus dated December 18, 2023 filed with the Designated Stock | ||
Exchange for receiving public comments and with, SEBI in accordance with the | |||
provisions of the Companies Act, 2013 and the SEBI NCS Regulations. | |||
Interest / Coupon Payment | Please refer to section titled "Issue Related Information" on page 233. | ||
Date | |||
Issue | Public issue by the Issuer of secured redeemable non-convertible debentures of face | ||
value of 1,000 each for an amount up to ₹ 1,250 million ("Base Issue Size") with a | |||
green shoe option of up to ₹ 1,250 million, cumulatively aggregating up to ₹ 2,500 | |||
million ("Issue Limit"). The NCDs will be issued up to the Issue Limit, on terms and | |||
conditions as set out in this Prospectus filed with the RoC, Stock Exchanges and SEBI. | |||
Issue Agreement | The Issue Agreement dated December 12, 2023, entered between the Issuer and the | ||
Lead Managers. | |||
Issue Closing Date | January 22, 2024 | ||
Issue Opening Date | January 9, 2024 | ||
Issue Period | The period between the Issue Opening Date and the Issue Closing Date inclusive of | ||
both days, during which prospective Applicants can submit their Application Forms. | |||
Lead Managers | Collectively, Trust Investment Advisors Private Limited ("TIAPL") and Nuvama | ||
Wealth Management Limited ("NWML"). | |||
Nuvama Wealth Management Limited is deemed to be our associate as per the | |||
Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, as | |||
amended ("Merchant Bankers Regulations"). Further, in compliance with the | |||
provisions of Regulation 21A and explanation to Regulation 21A of the Merchant | |||
Bankers Regulations, Nuvama Wealth Management Limited would be involved only in | |||
marketing of the Issue and as per Regulation 25 (3) of SEBI NCS Regulations and shall | |||
not issue a due diligence certificate, in relation to the issue of the NCDs. | |||
Market Lot | 1 (One) NCD. | ||
Members of the Syndicate | Members of the Syndicate includes Lead Managers and Syndicate Member(s). | ||
Mobile App(s) | The mobile applications listed on the website of Stock Exchange as may be updated from | ||
time to time, which may be used by RIBs to submit Bids using the UPI Mechanism. | |||
OCB | or | Overseas | A company, partnership, society or other corporate body owned directly or indirectly |
Corporate Body | to the extent of at least 60% (sixty percent) by NRIs including overseas trusts, in which | ||
not less than 60% (sixty percent) of beneficial interest is irrevocably held by NRIs | |||
directly or indirectly and which was in existence on October 3, 2003 and immediately | |||
before such date had taken benefits under the general permission granted to OCBs under | |||
the FEMA. OCBs are not permitted to invest in the Issue. | |||
Offer Documents | The Draft Prospectus, this Prospectus and Abridged Prospectus read with any notices, | ||
corrigenda, addenda thereto, the Debenture Trust Deed and other documents, if | |||
applicable, and various other documents/ agreements/ undertakings, entered or to be | |||
entered by the Issuer with Lead Managers, Public Issue Account and Sponsor Bank | |||
Agreement, Consortium Agreement and/or other intermediaries for the purpose of the | |||
Issue including but not limited to the Debenture Trust Deed, the Debenture Trustee | |||
Agreement, the Tripartite Agreements, the Registrar Agreement, the Agreement with | |||
the Lead Managers, Securities Pledge Agreement, executed or to be executed by the | |||
Issuer, as the case may be. For further details see the chapter titled "Material Contracts | |||
and Documents for Inspection" on page 306. | |||
Pledged Securities | Includes (i) eligible securities detailed in the Debenture Trust Deed and Securities | ||
6 |
Term | Description | ||||
Pledge Agreement; and (ii) any additional security that the Issuer may pledge in favour | |||||
of theDebenture Trustee at its sole discretion for securing the Debentures. | |||||
Prospectus | The Prospectus dated December 29, 2023 filed with the RoC and submitted with SEBI | ||||
and BSE in accordance with the provisions of the Companies Act, 2013 and the SEBI | |||||
NCS Regulations. | |||||
Public Issue Account | A bank account to be opened with the Public Issue Account and Sponsor Bank to | ||||
receive money from the ASBA Accounts on the Designated Date | |||||
Public Issue | Account | and | Agreement dated December 29, 2023 entered into amongst the Issuer, the Registrar to | ||
Sponsor Bank Agreement | the Issue, the Public Issue Account Bank, the Refund Bank and the Sponsor Bank and | ||||
the Lead Managers for the appointment of the Sponsor Bank in accordance with the | |||||
SEBI NCS Master Circular for collection of the Application Amounts from ASBA | |||||
Accounts and where applicable, refunds from the amounts collected from the | |||||
Applicants on the terms and conditions thereof. | |||||
Public Issue Account Bank | ICICI Bank Limited. | ||||
Record Date | The record date for payment of interest in connection with the NCDs or repayment of | ||||
principal in connection therewith shall be 15 (fifteen) days or such other day prior to | |||||
the date on which interest is due and payable, and/or the date of redemption or such | |||||
other date under the Prospectus as may be determined by the Issuer in accordance with | |||||
the applicable law. Provided that trading in the NCDs shall remain suspended between | |||||
the aforementioned Record Date in connection with redemption of NCDs and the date | |||||
of redemption or as prescribed by the Stock Exchange, as the case may be. | |||||
In case Record Date falls on a day when Stock Exchange are having a trading holiday, | |||||
the immediate subsequent trading day will be deemed as the Record Date. | |||||
Recovery Expense Fund | An amount which has been deposited by the Issuer with the Designated Stock | ||||
Exchange, equal to 0.01% of the issue size, subject to a maximum of deposit of | |||||
₹ 25,00,000 at the time of making the application for listing of NCDs. | |||||
Redemption Amount | Please see the section titled "Issue Related Information" on page 233 of this Prospectus. | ||||
"Redemption | Date" | or | Please see the section titled "Issue Related Information" on page 233 of this Prospectus. | ||
"Maturity Date" | |||||
Refund Account | Account to be opened with the Refund Bank from which refunds, if any, of the whole | ||||
or any part of the Application Amount. | |||||
Refund Bank | ICICI Bank Limited. | ||||
Register of NCD holders | The register of NCD holders maintained by the Depositories in case of NCDs held in | ||||
dematerialized form, and/or the register of NCD holders maintained by the Registrar. | |||||
Registrar Agreement | Agreement dated December 12, 2023, entered into between the Issuer and the Registrar | ||||
under the terms of which the Registrar has agreed to act as the Registrar to the Issue. | |||||
Registered Brokers | Stock brokers registered with SEBI under the Securities and Exchange Board of India | ||||
(Stock Brokers) Regulation, 1992 and the stock exchanges having nationwide | |||||
terminals, other than the Members of the Syndicate and eligible to procure Applications | |||||
from Applicants. | |||||
Registrar to the Issue or | KFIN Technologies Limited (formerly known as Kfin Technologies Private Limited) | ||||
Registrar | |||||
Resident Individual | An individual who is a person resident in India as defined in the FEMA. | ||||
"Registrar | and | Share | Registrar and share transfer agents registered with SEBI and eligible to procure | ||
Transfer | Agents" | or | Application in the Issue. | ||
"RTAs" | |||||
Security | The principal amount of the NCDs to be issued in terms of this Prospectus and the Draft | ||||
Prospectus together with all interest due and payable on the NCDs, thereof shall be | |||||
secured by way of an exclusive and/or pari passu charge in favor of the Debenture | |||||
Trustee on the assets of the entities permissible under applicable law and/or the Issuer | |||||
including loans and advances, receivables, investments, stock in trade, current & other | |||||
assets and/or immovable property / fixed assets held by the entities permissible under | |||||
applicable law and/or the Issuer, created in favour of the Debenture Trustee, and/or over | |||||
the Pledged Securities in favour of the Debenture Trustee for the benefit of the | |||||
Debenture holders, except those specifically and exclusively charged in favour of | |||||
certain existing charge holders as specifically set out in and fully described in the | |||||
Debenture Trust Deed and/or Securities Pledge Agreement, such that a security cover | |||||
of atleast 100% of the outstanding principal amounts of the NCDs and interest thereon | |||||
is maintained at all time until the Maturity Date. We undertake that the assets on which | |||||
the charge is proposed to be created are free from any encumbrances. For further details | |||||
7 |
Term | Description | ||||||||||
on date of creation of security/likely date of creation of security, minimum security | |||||||||||
cover etc., please refer to the "Terms of the Issue - Security" on page 242. | |||||||||||
"Self-Certified | Syndicate | The banks registered with SEBI, offering services in relation to ASBA, a list of which | |||||||||
Banks" or "SCSBs" | is available on the website of SEBI at: | ||||||||||
http://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognised=yes | |||||||||||
and updated from time to time and at such other websites as may be prescribed by SEBI | |||||||||||
from time to time. | |||||||||||
Series/Option | Collectively the Series of NCDs being offered to the Applicants as stated in the section | ||||||||||
titled "Issue Related Information" beginning on page 233. | |||||||||||
"Specified | Cities" | or | Bidding centres where the Members of the Syndicate shall accept Application Forms | ||||||||
"Specified Locations" | from Applicants, a list of which is available on the website of the SEBI | ||||||||||
athttps://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognised=yes | |||||||||||
and updated from time to time and at such other websites as may be prescribed by SEBI | |||||||||||
from time to time. | |||||||||||
Securities | Pledge | The pledge agreement to be entered inter alia between the Debenture Trustee, the | |||||||||
Agreement | Issuer, and pledgor which shall be executed in relation to the NCDs within the time | ||||||||||
limit prescribed by applicable statutory and/or regulatory requirements for creation of | |||||||||||
security, in favour of the Debenture Trustee for the NCD Holders to ensure 100% | |||||||||||
security cover for the NCDs and the interest due thereon issued pursuant to the Issue. | |||||||||||
Sponsor Bank | A Banker to the Issue, registered with SEBI, which is appointed by the Issuer to act as | ||||||||||
a conduit between the Stock Exchanges and NPCI in order to push the mandate collect | |||||||||||
requests and / or payment instructions of the retail individual investors into the UPI for | |||||||||||
retail individual investors applying through the app/web interface of the Stock | |||||||||||
Exchange(s) with a facility to block funds through UPI Mechanism for application | |||||||||||
value upto ₹ 500,000 and carry out any other responsibilities in terms of the UPI | |||||||||||
Mechanism Circular and as specified in this Prospectus. | |||||||||||
Stock Exchange | BSE | ||||||||||
Syndicate ASBA | Applications through the Syndicate or the Designated Intermediaries. | ||||||||||
Syndicate | ASBA | ASBA Applications through the Lead Managers, Consortium Members, the Trading | |||||||||
Application Locations | Members of the Stock Exchange or the Designated Intermediaries. | ||||||||||
Syndicate Bidding Centres | Syndicate Bidding Centres established for acceptance of Application Forms. | ||||||||||
Syndicate SCSB Branches | In relation to ASBA Applications submitted to a Member of the Syndicate, such | ||||||||||
branches of the SCSBs at the Syndicate ASBA Application Locations named by the | |||||||||||
SCSBs to receive deposits of the Application Forms from the members of the Syndicate, | |||||||||||
and | a | list | of | which | is | available | on | ||||
http://www.sebi.gov.in/sebiweb/home/list/5/33/0/0/Recognised | Intermediaries | or at | |||||||||
such other website as may be prescribed by SEBI from time to time. | |||||||||||
Tenor | Please see "Terms of the Issue" on page 241 of this Prospectus. | ||||||||||
Trading Members | Intermediaries registered with a Consortium Member or a sub-broker under the SEBI | ||||||||||
(Stock Brokers) Regulations, 1992 and/or with the Stock Exchange under the applicable | |||||||||||
byelaws, rules, regulations, guidelines, circulars issued by Stock Exchange from time | |||||||||||
to time and duly registered with the Stock Exchange for collection and electronic upload | |||||||||||
of Application Forms on the electronic application platform provided by Stock | |||||||||||
Exchange. | |||||||||||
Tripartite Agreements | Tripartite Agreement dated December 17, 2020, entered into between the Issuer, the | ||||||||||
Registrar to the Issue and NSDL and Tripartite Agreement dated December 8, 2020 | |||||||||||
entered into between the Issuer, the Registrar to the Issue and CDSL for offering | |||||||||||
demat option to the NCD Holders. | |||||||||||
"UPI" | or | "UPI | Unified Payments Interface mechanism in accordance with SEBI NCS Master Circular | ||||||||
Mechanism" | to block funds for application value up to ₹ 500,000 submitted through intermediaries, | ||||||||||
namely the Registered Stockbrokers, Consortium Members, Registrar and Transfer | |||||||||||
Agent and Depository Participants. | |||||||||||
UPI ID | Identification created on the UPI for single-window mobile payment system developed | ||||||||||
by the National Payments Corporation of India. | |||||||||||
"UPI Mandate Request" or | A request initiated by the Sponsor Bank on the Retail Individual Investor to authorise | ||||||||||
"Mandate Request" | blocking of funds in the relevant ASBA Account through the UPI mobile app/web | ||||||||||
interface (using UPI Mechanism) equivalent to the bid amount and subsequent debit of | |||||||||||
funds in case of allotment. | |||||||||||
Wilful Defaulter(s) | As defined under Regulation 2 of the Securities and Exchange Board of India (Issue of | ||||||||||
Capital and Disclosure Requirements) Regulations, 2018. | |||||||||||
8 |
Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Edelweiss Financial Services Ltd. published this content on 29 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 January 2024 05:07:36 UTC.