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Private and Confidential- For Private Circulation only
(This Disclosure Document/ Private Placement Offer Letter is neither a Prospectus nor a Statement in Lieu of
Prospectus)
Dated: October 27, 2014
Schedule – I Disclosures as per SEBI (Issue and Listing of Debt Securities) Regulations, 2008 as amended
(including Securities and Exchange Board of India (Issue and Listing of Debt Securities) (Amendment)
Regulations, 2012 through notification dated October 12, 2012), SEBI Circular No. CIR/IMD/DF/17/2011 dated
September 28, 2011 and Form no. PAS-4 pursuant to Section 42 of the Companies Act, 2013 and Rule 14(1) of
the Companies (Prospectus and Allotment of Securities) Rules, 2014, as amended.
EDELWEISS FINANCIAL SERVICES LIMITED
Edelweiss Financial Services Limited (‘the Company’)was originally incorporated as Edelweiss Capital Limited on
November 21, 1995 as a Public Limited Company under the provisions of the Companies Act, 1956 with
Corporate Identity Number (CIN): L99999MH1995PLC094641. The Company received its Certificate of
Commencement of Business on January 16, 1996. With effect from August 1, 2011 the name of the Company
changed to Edelweiss Financial Services Limited.
Registered Office:-
Edelweiss House, Off. C.S.T. Road,
Kalina, Mumbai – 400098, Maharashtra, India,
Tel: +91 22 4009 4400; Fax: +91 22 4086 3610;
E-mail: [email protected]; Website: www.edelweissfin.com
ISSUE BY WAY OF PRIVATE PLACEMENT BY EDELWEISS FINANCIAL SERVICES LIMITED (THE “COMPANY” /
“ISSUER”) OF 175 – SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES OF THE FACE VALUE OF
Rs. 10,00,000/- EACH (THE DEBENTURES/NCDs) AGGREGATING TO Rs. 17.50 CRORES (THE “ISSUE”)
GENERAL RISKS
Investment in debt and debt related securities involve a degree of risk and the investors should not invest any
funds in the debt instruments, unless they can afford to take the risks attached with such investments. For taking
an investment decision, the investors must rely on their own examination of the Company and the Issue including
the risks involved. The Securities and Exchange Board of India (“SEBI”) doesn’t take any responsibility for this
Issue in any manner.
GENERAL DISCLAIMER
This Disclosure Document/ Private Placement Offer Letter is neither a prospectus nor a statement in lieu of
prospectus and does not constitute an offer to the public generally to subscribe for or otherwise acquire the
Debentures to be issued by Edelweiss Financial Services Limited. This Disclosure Document is for the exclusive
use of the intended recipient(s) to whom it is delivered and it should not be circulated or distributed to third
parties. It cannot be acted upon by any person other than to whom it has been specifically addressed. Multiple
copies hereof given to the same person / entity shall be deemed to be offered to the same person.
CREDIT RATING
CARE AA (Double A) (pronounced “CARE Double A”) by Credit Analysis & Research Limited (CARE) for Non-
Convertible Debenture issue. Instruments with this rating are considered to have high degree of safety regarding
timely servicing of financial obligations. Such instruments carry very low credit risk.
LISTING
The Debentures are proposed to be listed on BSE Limited (“BSE” or the “Stock Exchange”).
ISSUE PROGRAMME
ISSUE OPENS ON: October 27, 2014 ISSUE CLOSES ON: October 27, 2014
The Company reserves the right to close the Issue earlier from the aforesaid date or change the Issue schedule
including the Deemed Date of Allotment at its sole and absolute discretion, without giving any reasons or prior
notice.
.
DEBENTURE TRUSTEE REGISTRAR TO ISSUE
IDBI Trusteeship Services Limited
Asian Building, Ground Floor,
17, R. Kamani Marg, Ballard Estate,
Mumbai 400 001,Maharashtra, India
Tel: +91 22 6631 1771/2/3
Fax: +91 22 6631 1776
E-mail: [email protected]
Website: www.idbitrustee.co.in
Contact Person: Mr. Vibhore Chaturvedi
Link Intime India Private Limited
C-13, Pannalal Silk Mills Compound
LBS Marg, Bhandup (W),
Mumbai 400 078,Maharashtra,India
Tel: +91 22 2596 3838
Fax: +91 22 2594 6979
E-mail : [email protected]
Website: www.linkintime.co.in
Contact Person: Mr. Ganesh Jadhav
1. DEFINITIONS AND ABBREVIATIONS
Unless the context otherwise indicates or requires, the following terms shall have the meanings given below in this
Disclosure Document.
Term Description
“Edelweiss Financial Services
Limited” or “EFSL” or the
“Company” or the “Issuer”
Edelweiss Financial Services Limited, a public limited company incorporated
under the Companies Act, 1956 and having its Registered Office at Edelweiss
House, Off. C.S.T. Road, Kalina, Mumbai - 400 098, Maharashtra, India.
“we”, “us”, “our”,
“Edelweiss Group”
Unless the context otherwise requires, the Company and its Subsidiaries.
Articles of Association Articles of Association of the Company, as amended from time to time.
Our Management/ Board of
Directors/Board
The Board of Directors of the Company (include any Committee thereof).
Memorandum of
Association
The Memorandum of Association of the Company, as amended from time to
time.
Promoters Mr. Rashesh Shah, Mr. Venkatchalam Ramaswamy, Ms. Vidya Shah and
Ms. Aparna TC, the Promoters of the Company.
Disclosure Document Offer Document / Information Memorandum / Offer Letter as per Form No.
PAS-4 pursuant to Section 42 of the Companies Act, 2013 and Rule 14(1) of
Companies (Prospectus and Allotment of Securities) Rules, 2014
Issue Related Terms
Term Description
Affiliate (s)
Affiliate (s) shall mean with respect to any person, any other person directly or
indirectly Controlling, Controlled by, or under direct, indirect or common
Control with, such person.
AGM Annual General Meeting
Application Form
The form in which an investor can apply for subscription to the Debentures
BSE/ Stock Exchange BSE Limited
Board of Directors/Board The Board of Directors of the Company (include any Committee thereof)
Bankers The banker to the Issue, in this case being ICICI Bank Limited
Beneficial Owner(s) Holder(s) of the Debentures in dematerialized form as defined under section 2
of the Depositories Act,1996.
CDSL Central Depository Services (India) Limited
Credit Rating Agency/ CARE Credit Analysis & Research Limited
Non-convertible
Debentures/Debentures/NCDs
Non-Convertible Debentures of the face value of Rs. 10,00,000 each.
Debenture Trust Deed Debenture Trust Deed dated April 17, 2014 executed between the Company
and IDBI Trusteeship Services Limited, the Debenture Trustee as stated in the
Summary Term Sheet
Depository(ies) A depository registered with the SEBI under the Securities and Exchange Board
Term Description
of India (Depositories and Participant) Regulations, 1996, as amended from time
to time, in this case being NSDL / CDSL
Depositories Act The Depositories Act, 1996, as amended from time to time
DP-ID Depository Participant Identification Number
EGM Extraordinary General Meeting
Equity Shares Equity Shares of the Company of the face value of Re. 1 each.
FII Foreign Institutional Investors as defined under the Securities and Exchange
Board of India (Foreign Institutional Investors) Regulations, 1995 and registered
with the SEBI.
Issue 175 - Secured Redeemable Non-Convertible Debentures of the face value of Rs.
10,00,000/- each aggregating to Rs. 17.50 crores, on a private placement basis.
NSDL National Securities Depository Limited
NRI A person resident outside India, who is a citizen of India or a person of Indian
origin and shall have the same meaning as ascribed to such term in the Foreign
Exchange Management Act, 1999 and Rules framed thereunder.
Disclosure Document This Disclosure Document/ Private Placement Offer Letter through which the
Debentures are offered on a private placement basis.
PAN Permanent Account Number issued by the Income Tax Department
RBI Reserve Bank of India
Record Date The date , as may be fixed by the Company, which will be 15 days prior to the
Redemption Date on which the determination of the persons entitled to receive
coupon/redemption amount in respect of the Debentures (i.e., persons whose
names are registered in the register of Debenture Holders or NSDL/CDSL record)
shall be made.
Registered Debenture Holder The Debenture holder whose name appears in the Register of Debenture
Holders or in the beneficial ownership record furnished by NSDL/CDSL for this
purpose.
Register of Debenture Holders The register maintained by the Company containing the name of Debenture
holders entitled to receive coupon/redemption amount in respect of the
Debentures on the Record Date, which shall be maintained at the Registered
Office.
SCRA The Securities Contracts (Regulation) Act, 1956
SEBI The Securities and Exchange Board of India constituted under the SEBI Act,1992
SEBI Act The Securities and Exchange Board of India Act, 1992, as amended from time to
time.
SEBI Debt Regulations/Debt
Regulations
SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (as amended from
time to time)
Working Day/ Business Day All days except Saturday, Sunday and any public holiday on which banks in
Mumbai are open for business.
Schedule – I as per SEBI (Issue and Listing of Debt Securities) Regulation, 2008 as amended and SEBI (Issue and
Listing of Debt Securities) (Amendment) Regulations, 2012 as amended and Form no. PAS-4 pursuant to
Section 42 of the Companies Act, 2013 and Rule 14(1) of the Companies (Prospectus and Allotment of
Securities) Rules, 2014
2. ISSUER INFORMATION
(i) REGISTERED OFFICE OF THE ISSUER
Edelweiss Financial Services Limited
Edelweiss House, Off C.S.T. Road,
Kalina, Mumbai – 400 098,
Maharashtra, India.
Tel: +91 22 4009 4400; Fax: +91 22 4086 3610;
E-mail: [email protected];
Website: www.edelweissfin.com
(ii) COMPLIANCE OFFICER OF THE ISSUER:
Mr. B Renganathan
Edelweiss House, Off C.S.T. Road, Kalina,
Mumbai – 400 098,
Maharashtra, India.
Tel: +91 22 4009 4400; Fax: +91 22 4086 3610
(iii) CFO OF THE ISSUER:
Mr. S Ranganathan
Edelweiss House, Off C.S.T. Road,
Kalina, Mumbai – 400 098,
Maharashtra, India.
Tel: +91 22 4009 4400; Fax: +91 22 4086 3610
(iv) DEBENTURE TRUSTEE
IDBI Trusteeship Services Limited
Asian Building, Ground Floor,
17, R. Kamani Marg, Ballard Estate,
Mumbai – 400 001
Maharashtra, India,
Tel: +91 22 40807000; Fax: +91 22 66311776/40807080
Contact person: - Mr. Vibhore Chaturvedi
(v) REGISTRAR OF THE ISSUER
Link Intime India Private Limited
Address: C-13, Pannalal Silk Mills Compound
LBS Marg, Bhandup (W),
Mumbai – 400 078,
Maharashtra, India.
Tel: +91 22 25963838; Fax: +91 22 2594 6979
Contact person:- Mr. Ganesh Jadhav
(vi) CREDIT RATING AGENCY TO THE ISSUE
Credit Analysis & Research Limited
4th
Floor, Godrej Coliseum,
Somaiya Hospital Road, Off Eastern Express Highway,
Sion (E), Mumbai – 400 022,
Maharashtra, India.
Tel: 022-6754 3456; Fax: 022-6754 3457
(vii) AUDITORS OF THE ISSUER
B S R & Associates LLP, Chartered Accountants
Lodha Excelus,
5th
Floor, Apollo Mills Compound
N. M. Joshi Marg, Mahalakshmi,
Mumbai – 400 011,
Maharashtra, India.
Tel: + 91 22 39896000; Fax: + 91 22 30902511
3. A BRIEF SUMMARY OF THE BUSINESS/ ACTIVITIES OF THE ISSUER AND ITS LINE OF BUSINESS
(a) Overview
Edelweiss Financial Services Limited was originally incorporated as Edelweiss Capital Limited on November
21, 1995 as a Public Limited Company under the provisions of the Companies Act, 1956. With effect from
August 1, 2011 the name of the Company changed to Edelweiss Financial Services Limited. The Company
received the Certificate of Commencement of Business on January 16, 1996. The Company commenced
investment banking activities and registered with SEBI as a “Category I Merchant Banker” (as defined under
the Securities and Exchange Board of India (Merchant Bankers) Rules, 1992) and as an “underwriter” under
the Securities and Exchange Board of India (Underwriting) Regulations, 1993.
Over a period of time, the Company attracted capital from various Investors such as Caladium Investment
Pte. Ltd. (a wholly owned subsidiary of GIC (Ventures) Pte Ltd), Greater Pacific, BIH SA.
In December 2007, the Company completed an Initial Public Offering of 8,386,147 Equity Shares of the face
value of Rs. 5 each for cash at a price of Rs. 825 per Equity Share aggregating to Rs. 6,918.57 million. The
Equity Shares are listed on National Stock Exchange of India Limited and BSE.
We are a diversified financial services Company, providing investment banking, institutional equities,
private client broking, Life insurance, housing finance, asset management and investment advisory services,
wealth management, insurance broking and wholesale financing services.
Since commencement of business in 1996, we have grown from a boutique investment bank into a
diversified financial services Company.
(b) Corporate Structure
EDELWEISS FINANCIAL SERIVCES LIMITED
Edelweiss Financial Services Limited was originally incorporated as Edelweiss Capital Limited on November
21, 1995 as a Public Limited Company under the provisions of the Companies Act, 1956. The Company
received its Certificate for Commencement of Business on January 16, 1996.
With effect from August 1, 2011 the name of the Company changed to Edelweiss Financial Services Limited.
As of date, the Company has 50 subsidiaries as under:-
S. No. Name of the Subsidiaries
1. Edelweiss Securities Limited
2. Edelweiss Comtrade Limited
3. Edelweiss Financial Services Inc
4. Edelweiss Securities (Hong Kong) Private Ltd.
5. Edelweiss Finance & Investments Limited
6. EC Global Limited
7. Edelweiss Commodities Services Limited
8. Edelweiss Capital Markets Limited
9. Edelweiss Housing Finance Limited
10. Edelweiss Metals Limited
11. Edelweiss Integrated Commodity Management Limited
12. Edel Commodities Limited
13. EFSL Comtrade Limited
14. Edelweiss Commodities Nigeria Limited
15. Edelweiss Commodities Pte. Limited
16. Edel Commodities Trading Limited
17. EFSL Commodities Limited
18. Edelweiss Broking Limited
19. Edelweiss Web Services Limited
20. Edelweiss Financial Advisors Limited
21. Edel Finance Company Limited
22. Ecap Equities Limited
23. Edelcap Securities Limited
24. Edelweiss Retail Finance Limited
25. ECL Finance Limited
26. Edelweiss Global Wealth Management Limited
27. Edelweiss Insurance Brokers Limited
28. EC Commodity Limited
29. Edelweiss Custodial Services Limited
30. Edelweiss Investment Adviser Limited
31. Edelweiss Tokio Life Insurance Company Limited
32. Edelweiss Trustee Services Limited
33. Edelweiss Alternative Asset Advisors Limited
34. Edel Investments Limited
35. Edel Land Limited
36. Edelgive Foundation
37. Edelweiss Asset Management Limited
38. Edelweiss Trusteeship Company Limited
39. Edelweiss Capital (Singapore) Pte. Limited
(c) Key Operational and Financial Parameters for last three audited years (Consolidated)
( in crores)
Parameters Quarter ended
June 30, 2014
(Unaudited)
Financial
Year
ended
March
31, 2014
Financial Year
ended March 31,
2013
Financial Year
ended March 31,
2012
Networth 1,257.10 1,217.76 1,190.76 1,183.05
Share application money pending
allotment
- 0.01 2.25 1.18
Total Debt
of which - Non Current Maturities
of
Long Term Borrowing 305.83 305.71 230.41 252.55
Short Term Borrowing 4,208.91 543.18 672.85 2,130.06
Current Maturities of Long Term
Borrowing
- 0.16 22.14 27.77
Net Fixed Assets 5.24 5.95 6.48 5.69
Non Current Assets 1,527.91 1,513.67 1,486.23 1,485.17
Cash and Cash Equivalents 62.46 14.63 19.39 1.48
Current Investments 23.79
Other Current Assets 4,229.27 579.85 646.98 2,170.17
Other Current Liabilities (Incl.
Provisions)
53.05 47.29 40.66 91.69
Assets Under Management - Credit
Book
- - - -
Off Balance Sheet Assets - - - -
Interest Income - - - -
Interest Expense - - - -
Provisioning & Write-offs - - - -
PAT 23.27 73.30 46.79 68.64
Gross NPA (%) - - - -
Net NPA (%) - - - -
40. Edelweiss Alternative Asset Advisors Pte. Limited
41. Edelweiss International (Singapore) Pte. Limited
42. Edelweiss Investment Advisors Private Limited
43. EC International Limited
44. Aster Commodities DMCC
45. EAAA LLC
46. EW Special Opportunities Advisors LLC
47. EW India Special Assets Advisors LLC
48. EW SBI Crossover Advisors LLC
49. Forefront Capital Management Private Limited
50. Forefront India Capital Management
Tier I Capital Adequacy Ratio (%) - - - -
Tier II Capital Adequacy Ratio (%) - - - -
Gross Debt: Equity Ratio of the
Company:-
Before the issue of debt securities 3.59
*After the issue of debt securities 3.71
*Note: Includes proposed Long term NCD issue of Rs. 100 Crores
(d) Project cost and means of financing, in case of funding of new projects :
None
4. A BRIEF HISTORY OF THE ISSUER
(a) History:
Edelweiss Financial Services Limited was originally incorporated as Edelweiss Capital Limited on November
21, 1995 as a Public Limited Company under the provisions of the Companies Act, 1956. The Company
received the Certificate of Commencement of Business on January 16, 1996.
With effect from August 1, 2011 the name of the Company changed to Edelweiss Financial Services
Limited. Capital Structure of the Company as on June 30, 2014:
Share Capital
Particulars Amount
(Rs. in crores)
A. Authorised Capital:-
1,230,000,000 Equity Shares of Re. 1/- each
40,00,000 Preference Shares of Rs. 5/- each
123.00
2.00
B. Issued, Subscribed and Paid Up Capital:-
777,620,488 Equity Shares of Re. 1/- each
77.76
(b) Change in share capital as on June 30, 2014 (during last five years) :
(i) Authorised Share Capital
Date of Change ( AGM/EGM) Amount in Rs. Particulars / Remarks
July 30, 2010 (AGM) 125,00,00,000 Increased from 52,000,000 Equity Shares of Rs.
10/- each to 125,00,00,000 Equity Shares of Re.
1/- each consisting of 123,00,00,000 Equity
shares of Re. 1 each and 40,00,000 Preference
shares of Rs. 5 each.
(ii) Change in Equity Share Capital as on June 30, 2014 (during last five years):
Date of
Allotment
No. of
Equity
Shares
Face
Value
(Rs. )
Issue
Price
(Rs.)
Nature of
Conside-
ration
Nature for
allotment
Cumulative
No. of Equity
shares
Cumulative
Paid-up
Share
Capital
(Rs. In Cr)
Cumulat-
ive Share
Premium
(Rs. In Cr)
Rema-
rks
13.08.2009 6,000 5 10.42 CASH Pursuant to
exercise of ESOP
7,49,39,155
375.00
21,000 5 20.83 CASH Pursuant to
exercise of ESOP
7,49,60,155
39,676 5 79.17 CASH Pursuant to
exercise of ESOP
7,49,99,831
08.09.2009 4,410 5 79.17 CASH Pursuant to
exercise of ESOP
7,50,04,241
375.02
06.10.2009 1,576 5 79.17 CASH Pursuant to
exercise of ESOP
7,50,05,817
375.03
09.11.2009 12,000 5 10.42 CASH Pursuant to
exercise of ESOP
7,50,17,817
375.19
12,000 5 20.83 CASH Pursuant to
exercise of ESOP
7,50,29,817
7,876 5 79.17 CASH Pursuant to
exercise of ESOP
7,50,37,693
05.01.2010 5,100 5 79.17 CASH Pursuant to
exercise of ESOP
7,50,42,793
375.22
08.02.2010 6,000 5 10.42 CASH Pursuant to
exercise of ESOP
7,50,48,793
375.35
15,000 5 20.83 CASH Pursuant to
exercise of ESOP
7,50,63,793
5,850 5 79.17 CASH Pursuant to
exercise of ESOP
7,50,69,643
08.03.2010 2,250 5 79.17 CASH Pursuant to
exercise of ESOP
7,50,71,893
375.36
07.05.2010 1,500 5 5.00 CASH Pursuant to
exercise of ESOP
7,50,73,393
375.46
4,500 5 20.83 CASH Pursuant to
exercise of ESOP
7,50,77,893
13,650 5 79.87 CASH Pursuant to
exercise of ESOP
7,50,91,543
04.06.2010 5,175 5 79.17 CASH Pursuant to
exercise of ESOP
7,50,96,718
375.49
08.07.2010 2,400 5 79.17 CASH Pursuant to
exercise of ESOP
7,50,99,118
375.5
The Face Value of the Equity shares of the Company was sub- divided into face value of Re. 1 each through a
resolution of its shareholders dated July 30, 2010, resulting in 375,495,590 Equity shares of Re. 1 each
13.08.2010 1 CASH Sub-division 75,09,91,180 750.99
37,54,95,590 1 Bonus
issue
Bonus issue 75,09,91,180
19.08.2010 10,500 1 7.917 CASH Pursuant to
exercise of ESOP
75,10,01,680 751.00
09.09.2010 6,000 1 7.917 CASH Pursuant to
exercise of ESOP
75,10,07,680 751.03
20,000 1 50.00 CASH Pursuant to
exercise of ESOP
75,10,27,680
11.10.2010 3,000 1 7.917 CASH Pursuant to
exercise of ESOP
75,10,30,680 751.03
12.11.2010 24,000 1 7.917 CASH Pursuant to
exercise of ESOP
75,10,54,680 751.51
3,97,500 1 21.70 CASH Pursuant to
exercise of ESOP
75,14,52,180
56,000 1 51.70 CASH Pursuant to
exercise of ESOP
75,15,08,180
07.12.2010 75,000 1 7.917 CASH Pursuant to
exercise of ESOP
75,15,83,180 751.72
1,35,500 1 21.70 CASH Pursuant to
exercise of ESOP
75,17,18,680
6,000 1 51.70 CASH Pursuant to
exercise of ESOP
75,17,24,680
07.01.2011 30,000 1 2.08 CASH Pursuant to
exercise of ESOP
75,17,54,680 751.78
21,000 1 21.70 CASH Pursuant to
exercise of ESOP
75,17,75,680
07.02.2011 90,000 1 2.08 CASH Pursuant to
exercise of ESOP
75,18,65,680 751.99
3,600 1 7.917 CASH Pursuant to
exercise of ESOP
75,18,69,280
1,24,000 1 21.70 CASH Pursuant to
exercise of ESOP
75,19,93,280
17.03.2011 9,000 1 7.917 CASH Pursuant to
exercise of ESOP
75,20,02,280 752.03
24,000 1 21.70 CASH Pursuant to
exercise of ESOP
75,20,26,280
08.04.2011 36,000 1 21.70 CASH Pursuant to
exercise of ESOP
75,20,62,280 752.06
05.05.2011 18,000 1 7.917 CASH Pursuant to
exercise of ESOP
75,20,80,280 752.12
36,000 1 21.70 CASH Pursuant to
exercise of ESOP
75,21,16,280
06.06.2011 1,50,000 1 7.917 CASH Pursuant to
exercise of ESOP
75,22,66,280 752.27
3,000 1 21.70 CASH Pursuant to
exercise of ESOP
75,22,69,280
08.07.2011 1,50,000 1 1.04 CASH Pursuant to
exercise of ESOP
75,24,19,280 756.57
2,40,000 1 2.08 CASH Pursuant to 75,26,59,280
exercise of ESOP
33,12,000 1 7.917 CASH Pursuant to
exercise of ESOP
75,59,71,280
6,00,000 1 16.67 CASH Pursuant to
exercise of ESOP
75,65,71,280
12.08.2011 60,000 1 6.38 CASH Pursuant to
exercise of ESOP
75,66,31,280 756.63
08.09.2011 15,000 1 10.68 CASH Pursuant to
exercise of ESOP
75,66,46,280 756.65
12.03.2012 1,53,000 1 3.87 CASH Pursuant to
exercise of ESOP
75,67,99,280 756.80
04.04.2012 9,60,000 1 11.93 CASH Pursuant to
exercise of ESOP
75,77,59,280 757.76
18.04.2012 42,000 1 7.92 CASH Pursuant to
exercise of ESOP
75,78,01,280 757.80
08.10.2012 24,15,000 1 8.19 CASH Pursuant to
exercise of ESOP
76,02,16,280 760.22
14.09.2012 2,40,000 1 1.69 CASH Pursuant to
exercise of ESOP
76,04,56,280 760.46
17.05.2012 1,20,000 1 1.54 CASH Pursuant to
exercise of ESOP
76,05,76,280 760.58
26.06.2012 10,38,000 1 7.92 CASH Pursuant to
exercise of ESOP
76,16,14,280 761.61
10.07.2012 30,000 1 21.70 CASH Pursuant to
exercise of ESOP
76,16,44,280 761.64
29.11.2012 96,000 1 28.09 CASH Pursuant to
exercise of ESOP
76,17,40,280 761.74
08.01.2013 6,000 1 21.70 CASH Pursuant to
exercise of ESOP
76,17,46,280 761.75
29.01.2013 20,96,000 1 11.96 CASH Pursuant to
exercise of ESOP
76,38,42,280 763.84
06.05.2013 29,29,800 1 7.68 CASH Pursuant to
exercise of ESOP
76,67,72,080 766.77
14.06.2013 13,30,250 1 16.67 CASH Pursuant to
exercise of ESOP
76,81,02,330 768.10
22.07.2013 40,000 1 26.17 CASH Pursuant to
exercise of ESOP
76,81,42,330 768.14
22.10.2013 9,03,000 1 7.97 CASH Pursuant to
exercise of ESOP
76,90,45,330 769.04
09.04.2014 10,500 1 7.92 CASH Pursuant to
exercise of ESOP
769,055,830 769.05
03.05.2014 10,186,649 1 20.68 CASH Pursuant to
exercise of ESOP
779,242,479 779.24
19.05.2014
12,52.070
- - - Buyback of
shares
777,9990409 7782
02.06.2014 3,69,921 Buyback of
shares
777,620,488 777.62
(c) Details of any acquisitions or amalgamation in the last one year
None
(d) Details of any reorganization or reconstruction in the last one year
None
5. DETAILS OF THE SHAREHOLDING PATTERN AS ON JUNE 30, 2014
(a) Shareholding pattern of the Company as on June 30, 2014.
Category of
Shareholder
No. of
Sharehold
ers
Total No. of
Shares
Total No. of
Shares held in
Dematerialized
Form
Total Shareholding
as a % of Total No. of
Shares
Shares pledged or
otherwise encumbered
As a %
of
(A+B)
As a % of
(A+B+C)
Number of
shares
As a
% of Total
No. of
Shares
(A) Shareholding of
Promoter and
Promoter Group
(1) Indian
Individuals / Hindu
Undivided Family 13 24,27,65,690 24,27,65,690 31.22 31.22 2,76,83,000 11.40
Bodies Corporate 1 4,19,50,000 4,19,50,000 5.39 5.39 - -
Sub Total (A1) 14 28,47,15,690 28,47,15,690 36.61 36.61 2,76,83,000 9.72
(2) Foreign
Individuals (Non-
Residents Individuals /
Foreign Individuals) 1 10,00,000 10,00,000 0.13 0.13 - -
Sub Total (A2) 1 10,00,000 10,00,000 0.13 0.13 - -
Total shareholding of
Promoter and
Promoter Group (A)
[(A1) + (A2)] 15 28,57,15,690 28,57,15,690 36.74 36.74 2,76,83,000 9.69
(B) Public
Shareholding
(1) Institutions
Mutual Funds / UTI 12 1,20,40,266 1,20,40,266 1.55 1.55 - -
Financial Institutions /
Banks
6 1,25,310 1,25,310 0.02 0.02 - -
Foreign Institutional
Investors
44 17,44,01,616 17,44,01,616 22.43 22.43 - -
Qualified Foreign
Investors
1 2,00,000 2,00,000 0.02 0.02 - -
Sub Total (B1) 63 18,67,67,192 18,67,67,192 24.02 24.02 - -
(2) Non-Institutions
Bodies Corporate 997 2,25,84,218 2,25,06,218 2.90 2.90 - -
Individuals
Individual shareholders
holding nominal share
1,31,400 3,45,88,473 3,44,49,763 4.45 4.45
(b) List of Top 10 holders of Equity Shares of the Company as on June 30, 2014
Sr.
No.
Name of Shareholders Total No. of
Equity Shares
No. of Shares
in Demat form
Total
Shareholding as
% of total no. of
equity shares
1 Rashesh Chandrakant Shah 13,43,01,730 13,43,01,730 17.27
2 FIRST CARLYLE VENTURES MAURITIUS 6,80,48,557 6,80,48,557 8.75
3 CALADIUM INVESTMENT PTE LIMITED 6,22,74,300 6,22,74,300 8.01
4 Venkat Ramaswamy 5,30,26,560 5,30,26,560 6.82
5 Spire Investment Advisors LLP 4,19,50,000 4,19,50,000 5.39
6 Rashesh Chandrakant Shah & Venkat
Ramaswamy (Jointly as Trustees of Edelweiss
Employee Welfate Trust)
3,75,95,270 3,75,95,270 4.83
7 PRIVATBANK IHAG ZURICH AG 3,17,07,830 3,17,07,830 4.08
8 VIDYA RASHESH SHAH 2,93,61,200 2,93,61,200 3.78
9 SAIF ADVISORS MAURITIUS LIMITED A/C SAIF 2,56,33,505 2,56,33,505 3.30
capital up to Rs. 1 lakh
Individual shareholders
holding nominal share
capital in excess of Rs.
1 lakh 66 9,59,59,468 9,59,59,468
12.34
12.34
Any Others (Specify) - -
Clearing Members 503 40,08,235 40,08,235 0.52 0.52 - -
Non Resident Indians 563 1,56,78,504 1,51,23,504 2.02 2.02 - -
- -
Non Resident Indians
(Non- Repatriable)
205 5,12,097 5,12,097 0.07 0.07 - -
Foreign Companies 4 7,88,10,830 7,87,32,830 10.13 10.14 - -
Independent Directors 3 80,97,180 80,97,180 1.04 1.04 - -
Trusts 9 4,48,98,601 4,48,98,601 5.77 5.77 - -
Sub Total (B2) 1,33,750 30,51,37,606 30,42,87,896 39.24 39.24 - -
Total Public
shareholding (B) [(B1)
+ (B2)]
1,33,813 49,19,04,798 49,10,55,088 63.26 63.26 - -
Total (A)+(B) 1,33,828 77,76,20,488 77,67,70,778 100.00 100.00 2,76,83,000 3.56
(C) Shares held by
Custodians and
against which
Depository Receipts
have been issued
(1) Promoter and
Promoter Group
- - - - - - -
(2) Public - - - - - - -
Sub Total
Total (A)+(B)+(C) 1,33,828 77,76,20,488 77,67,70,778 100.00 100.00 2,76,83,000 3.56
Notes:
1. For determining public shareholding for the purpose of Clause 40A
2. For definitions of Promoter and Promoter Group, refer to Clause 40A.
3. Public shareholding
INDIA IV FII HOLDINGS LIMITED
10 FIL INVESTMENTS(MAURITIUS) LTD 1,61,51,043 1,61,51,043 2.08
6. OUR MANAGEMENT
The Articles of Association of our Company require us to have not less than 3 (three) and not more than 15
(Fifteen) Directors. As on date, we have 4 (three) Executive Directors, 1 (One) Non- Executive Director and 7
(Seven) Independent Directors on the Board of Directors of the Company.
Board of Directors
The general superintendence, direction and management of our affairs and business are vested in the Board of
Directors. Currently, we have 12 (Twelve) Directors on the Board of Directors.
DETAILS OF DIRECTORS
(a) NAMES AND ADDRESSES OF THE DIRECTORS OF THE ISSUER AS ON DATE OF THE ISSUE
Sr.
No.
Name, Designation, DIN, Nationality,
Occupation and Address
Age
(years)
Date of
Appointment
Details of other
Directorships
1. Mr. Rashesh Shah
Designation: Chairman, Managing
Director & CEO
DIN : 00008322
Nationality: Indian
Occupation: Service
Address: B - 233, 10th
Floor, Kalpataru
Horizon B, S.K. Ahire Marg, Worli,
Mumbai - 400018.
50 years 21/11/1995 1. Edelweiss Tokio
Life Insurance
Company Limited
2. ECL Finance
Limited
3. Rediff.com India
Limited
4. Edelweiss Asset
Reconstruction
Company Limited
5. SBI Hong Kong Co.
Ltd.
6. Ivy Financial
Services Private
Limited
2. Mr. Venkat Ramaswamy
Designation: Executive Director
DIN : 00008509
Nationality: Indian
Occupation: Service
Address: 142, Beach Towers, 14th
Floor,
P. Balu Road, Prabhadevi,
Mumbai - 400025.
47 years 20/02/1996 1. Edelweiss Tokio
Life Insurance
Company Limited
2. Edelweiss Finance
& Investments
Limited
3. Edelweiss Capital
(Singapore) Pte.
Ltd.
4. Edelweiss
Alternative Asset
Advisors Limited
5. Prime Urban
Development
India Limited
6. Ivy Financial
Services Private
Limited
7. Edelweiss
Alternative Asset
Advisors Pte.
Limited
3. Mr. Himanshu Kaji
Designation: Executive Director
DIN : 00009438
Nationality: Indian
Occupation: Service
Address: C/7 Ishwar Niwas, Sicka Nagar,
V. P. Road, Mumbai - 400004.
48 years 01/11/2011 1. ECL Finance
Limited
2. Edelweiss
Trusteeship
Company Limited
3. Kaji and Maulik
Securities Private
Limited
4. HNK Consulting
Private Limited
5. Edelweiss Tokio
Life Insurance
Company Limited
4. Mr. Rujan Panjwani
Designation: Executive Director
DIN: 00237366
Nationality: Indian
Occupation: Service
Address: 26th
Hem Prabha, 7th
Floor,
Marine Drive, Mumbai 400020
50 years 24/06/2013 1. Edelweiss
Commodities
Services Limited
2. Edelweiss Tokio
Life Insurance
Company Limited
3. ECL Finance
Limited
4. Edelweiss Asset
Management
Limited
5. Edelweiss
Custodial Services
Limited
6. Edel Land Limited
7. EC Global Limited
5. Mr. Kunnasagaran Chinniah
Designation: Independent Director
DIN: 01590108
Nationality: Singaporian
Occupation: Service
Address: 12, Countryside Grove,
Singapore - 789967.
56 years 01/10/2013 1. Edelweiss Capital
(Singapore) Pte.
Ltd.
2. Changi Airport
International
3. Hindu
Endowment
Board
6. Mr. Narendra Jhaveri
Designation: Independent Director
DIN : 00198912
Nationality: Indian
Occupation: Service
Address: C-42, Samprat Residency,
Premchandnagar Road, Bodakdev,
Ahmedabad – 380015.
78 years 21/07/2007 1. Afcons
Infrastructure
Limited
2. Siemens Limited
3. Juniper Hotels
Private Limited
4. Hindalco
Industries Limited
5. Phoenix ARC
Private Limited
6. Edelweiss
Securities Limited
7. Pidilite Industries
Limited
8. Cadila
Pharmaceuticals
Limited
7. Mr. P.N. Venkatachalam
Designation: Independent Director
DIN : 00499442
Nationality: Indian
Occupation: Service
Address: Flat No 3C, Settlur Manor, No.2,
Sivaswamy Street (Behind UTI Bank), Off.
Dr. Radhakrishnan Salai, Mylapore,
Chennai – 600004.
69 years 09/08/2007 1. ECL Finance
Limited
2. Edelweiss Finance
& Investments
Limited
3. Edelweiss
Commodities
Services Limited
4. Sundaram
Finance Limited
5. UTI Asset
Management
Company Ltd
6. UTI Retirement
Solutions Limited
7. Khazana
Jewellery Private
Limited 8. Edelweiss Tokio
Life Insurance
Company Limited
8. Mr. Berjis Desai
Designation: Independent Director
DIN : 00153675
Nationality: Indian
Occupation: Service
Address: Yezerina II Road No. 5,
740 / 741, Dadar Parsi Colony, Dadar,
Mumbai – 400014.
57 years 18/11/2009 1. The Great
Eastern Shipping
Company Limited
2. Praj Industries
Limited
3. Emcure
Pharmaceuticals
Limited
4. Greatship (India)
Limited
5. Centrum Fiscal
Private Limited
6. Capricorn
Studfarm Private
Limited
7. Capricorn
Agrifarms and
Developers
Private Limited
8. Equine
Bloodstock
Private Limited
9. Himatsingka
Seide Limited
10. Man
Infraconstruction
Limited
11. Adani Enterprises
Limited
12. Divatex Home
Fashions Inc (
U.S.A.)
13. JSA Lex Holdings
Limited
(Mauritius)
14. Inventurus
Knowledge
Solutions Private
Limited
9. Mr. Sanjiv Misra
Designation: Independent Director
DIN : 03511635
Nationality: Singaporian
Occupation: Service
Address: House 27, East Sussex Lane,
Singapore, 279813.
53 years 1. Invenio Holdings
Pte. Ltd.
2. Edelweiss Capital
(Singapore) Pte.
Ltd.
3. OUE Hospitality
Trust
Management
Pte. Ltd.
4. OUE Hospitality
REIT
Management
Pte. Ltd.
5. Olam
International
Limited
6. Phoenix Advisers
Pte. Ltd.
7. Group CapAleph
Pte. Ltd.
8. CapAleph
Managers Pte.
Ltd.
9. CapAleph Indian
Millennium Fund
Pte. Ltd.
10. CapAleph
Partners Pte. Ltd.
11. Phoenix E.K.
Limited
10. Mr. Sunil Mitra
Designation: Independent Director
DIN : 00113473
Nationality: Indian
Occupation: Service
Address: 241, Shantipally,
Kolkata 700078.
62 years 1. West Bengal State
Electricity
Distribution
Company Limited
2. IPE Global
Private Limited
3. Calcutta
Promotions
4. Patton
International Ltd
5. Peerless Trust
Management Co.
Limited
6. Nicco Parks &
Resorts Ltd.
7. Magma HDI
General
Insurance
Company Limited
8. Texmaco Rail &
Engineering
Limited
11. Mr. Navtej S. Nandra
Designation: Independent Director
DIN : 02282617
Nationality: U.S.
Occupation: Service
Address: 22, West 15 Street, #18A, New
York, 10011, USA.
47 years 15/05/2013 --
12. Mrs. Vidya Shah
Designation: Non – Executive Director
DIN : 00274831
Nationality: Indian
Occupation: Service
Address: B - 233, 9th
Floor, Kalpataru
Horizon B, S.K. Ahire Marg, Worli,
Mumbai - 400018.
48 yrs 01/08/2014 1. Oak Holdings
Private Limited
2. EdelGive
Foundation
3. Common Purpose
India
4. Toolbox India
Foundation
5. Women on Wings
Note: None of the Directors of the Company are in the RBI defaulter list and /or ECGF default list.
(b) Change in Directors since last three years:
Name, Designation DIN Date of
Appointment /
Resignation
Director of
company
since (in
case of
resignation)
Remarks
Mr. Rujan Panjwani
Designation:-Executive Director
00237366 24/06/2013 - Appointment
Mr. Navtej S. Nandra
Designation:- Independent Director
02282617 15/05/2013 Appointment
Mr. Kunnasagaran Chinniah
Designation:- Independent Director
01590108 01/10/2013 - Appointment
Mr. Kunnasagaran Chinniah
Designation:- Non - Executive
Director
01590108 30/09/2013 05/06/2007 Resignation
Mr. Sunil Mitra
Designation: -Independent Director
00113473 07/12/2011 - Appointment
Mr. Himanshu Kaji
Designation:- Executive Director
00009438 01/11/2011 - Appointment
Ms. Vidya Shah
Designation: - Non - Executive
Director
00274831 01/08/2014 - Appointment
Confirmations
Our Directors have not been identified as willful defaulters by the RBI, ECGC or any government authority.
Any financial or other material interest of the directors, promoters or key managerial personnel in the offer
and the effect of such interest in so far as it is different from the interests of other persons
Nil
Debenture holding of Directors:
As on date, none of our Directors hold any debentures in our Company.
Remuneration of the Directors:-
Sr.
No. Name of the Director FY 14 FY 13 FY 12
1 Rashesh Shah 3,62,84,908 1,79,69,908 81,33,340
2 Venkat Ramaswamy 1,21,48,902 1,49,53,495 1,79,12,395
3 Himanshu Kaji 2,07,08,094 1,29,90,686 33,33,333
4 Rujan Panjwani 32,51,052 -
-
5 Narendra Jhaveri 14,70,000 12,80,000 12,40,000
6 P.N. Venkatachalam 15,10,000 12,00,000 11,80,000
7 Berjis Desai 14,90,000 12,60,000 12,60,000
8 Sunil Mitra 13,90,000 5,80,000 20,000
9 Sanjiv Misra 2,40,000 12,00,000 1,60,000
10 Navtej S Nandra 40,000 - -
11 Kunnasagaran Chinniah 40,000 - -
12 Vidya Shah - - -
7. DETAILS OF AUDITORS OF THE COMPANY
(a) Details of the Auditor of the Company
Name Address Auditor since
B S R & Associates LLP, Chartered
Accountants
Lodha Excelus, 1st Floor, Apollo
Mills Compound, N. M. Joshi Marg,
Mahalakshmi, Mumbai - 400 011,
Maharashtra ,India
September 22, 2006
(b) Details of changes in Auditors since last three years : None
8. DETAILS OF BORROWINGS AS ON JUNE 30, 2014
(a) Details of Secured Loan Facilities :
Lender’s name Type of facility Amount
sanctioned
(In Rs.)
Principal
amount
outstanding
(In Rs.)
Repayment
Date / Schedule
Security
ICICI Bank
Limited
Vehicle loan 75,00,000 36,84,601 Payable in
equated
monthly
installments
over the tenure
of loans ending
in August 2016
Secured by
hypothecation
of vehicle
Non Convertible
Debentures
145,00,00,000 Refer Annexure
A
(b) Details of Unsecured Loan Facilities:
Lender’s name Type of facility Amount sanctioned
(In Rs.)
Principal amount
outstanding
(In Rs.)
Repayment Date /
Schedule
ECap Equities
Limited
Long Term Loan 1,50,00,00,000 1,50,00,00,000 After the end of 1
year & not more
than 3 years from
date of
disbursement
Edelweiss Comtrade
Limited
Long Term Loan 10,46,00,000 10,46,00,000 After the end of 1
year & not more
than 3 years from
date of
disbursement
Indus Ind Bank
Limited
WCDL 50,00,00,000
-
On Demand
(c) Details of Non Convertible Debentures :
For details of Non Convertible Debentures refer Annexure A
(d) List of Top 10 Debenture holders as on June 30, 2014 :
Sr.
No.
Name of Debenture holders Amount
(Rs.)
1. DEUTSCHE TRUSTEE SERVICES (INDIA)
PRIVATE LIMITED A/C DWS SHORT MATURITY FUND
75,00,00,000
2 KOTAK MAHINDRA TRUSTEE CO. LTD. A/C
KOTAK FIXED MATURITY PLAN SERIES 131
55,00,00,000
3 KOTAK MAHINDRA TRUSTEE CO. LTD. A/C
KOTAK FIXED MATURITY PLAN SERIES 140
5,00,00,000
4 DEUTSCHE TRUSTEE SERVICES (INDIA) PRIVATE LIMITED A/C DWS MONEY PLUS FUND 5,00,00,000
5 DEUTSCHE TRUSTEE SERVICES (INDIA) PVT LIMITED A/C DWS FIXED MATURITY PLAN
SERIES - 58
5,00,00,000
(e) The amount of corporate guarantee issued by the issuer along with name of the counter party (like name
of the subsidiary, JV entity, group company, etc) on behalf of whom it has been issued :
Enclosed as Annexure ‘B’
(f) Details of Commercial Paper :
The total face value of the Commercial Papers outstanding as on June 30 2014:-
Maturity Date Amount
Outstanding
(In Rs.)
07-Jul-14 2,58,00,00,000
09-Jul-14 3,00,00,00,000
10-Jul-14 4,50,00,00,000
11-Jul-14 2,50,00,00,000
14-Jul-14 2,50,00,00,000
15-Jul-14 7,00,00,00,000
21-Jul-14 50,00,00,000
22-Jul-14 3,50,00,00,000
23-Jul-14 1,25,00,00,000
24-Jul-14 1,50,00,00,000
25-Jul-14 3,00,00,00,000
28-Jul-14 3,00,00,00,000
30-Jul-14 4,00,00,00,000
01-Aug-14 2,00,00,00,000
07-Aug-14 18,00,00,000
12-Aug-14 25,00,00,000
14-Aug-14 50,00,00,000
25-Aug-14 25,00,00,000
26-Aug-14 3,80,00,00,000
Grand Total 45,81,00,00,000
(g) Details of rest of the borrowing (if any including hybrid debt like FCCB, Optionally Convertible Debentures /
Preference Shares) :
NONE
(h) Details of all default/s and/or delay in payments of interest and principal of any kind of term loans, loans
from any bank or financial institutions, deposits, debt securities and other financial indebtness including
corporate guarantee issued by the Company, Statutory dues:
NONE
(i) Details of outstanding borrowings taken / debt securities issued where taken / issued (a) for consideration
other than cash, whether in whole or part, (b) at premium or discount, or (c) in pursuance of an option:
NONE
9. Details of Promoters of the Company :
(a) Details of Promoter holding in the Company as on June 30, 2014
Details of the Equity Shares held by the Promoters and Promoter Group in the Company as on June 30, 2014
Sr.
No.
Name of
Shareholders
Total no. of
equity
shares
No, of shares
in demat form
Total
Shareholdin
g as % if
total no. of
equity
shares
No of shares
pledged
% of shares
pledged with
respect to
shares owned
Promoters
1. Mr. Rashesh Shah 13,43,01,730 13,43,01,730 17.27 - -
2. Mr.Venkat
Ramaswamy
5,30,26,560 5,30,26,560 6.82
45,00,000 8.49
3. Mrs. Vidya Rashesh
Shah
2,93,61,200 2,93,61,200 3.78
2,31,83,000 78.96
4. Mrs.Aparna T. C. 1,20,00,000 1,20,00,000 1.54 - -
Sub Total (A) 2286,89,490 2286,89,490 29.41 2,76,83,000 87.44
Promoter Group
5. Spire Investment
Advisors LLP
4,19,50,000 4,19,50,000 5.39
- -
6. Ms. Kaavya Arakoni
Venkat
1,20,00,000 1,20,00,000 1.54
- -
7. Ms. Sneha Sripad
Desai 10,25,000 10,25,000
0.13
- -
8. Ms. Shilpa Urvish
Mody 10,01,200 10,01,200
0.13
- -
9. Mr. Sejal Premal
Parekh
10,00,000 10,00,000 0.13
- -
10. Mr. Arakoni
Venkatachalam
Ramaswamy
50,000 50,000 0.01
- -
Sub Total (B) 5,70,26,200 5,70,26,200 7.33
Total (A+B) 28,57,15,690 28,57,15,690 36.74
10. Abridged version of Audited Consolidated (wherever available) and Standalone Financial information ( like
Profit & Loss statement, Balance Sheet and Cash Flow statement) for at least last three years and auditor
qualifications , if any.
Enclosed as Annexure C
11. (a) Abridged version of Latest Audited / Limited Review Half Yearly Consolidated (wherever available) and
Standalone Financial Information (like Profit & Loss statement, and Balance Sheet) and auditors
qualifications, if any.
Enclosed as Annexure D
(b) Related party transactions entered during the last three financial years immediately preceding the year
of circulation of Disclosure Document including with regard to loans made or, guarantees given or
securities provided
Enclosed as Annexure E
(c) Summary of reservations or qualifications or adverse remarks of auditors in the last five financial years
immediately preceding the year of circulation of Disclosure Document and their impact on the financial
statements and financial position of the Company and the corrective steps taken and proposed to be taken by
the Company for each of the said reservations or qualifications or adverse remark.
Nil
(d) Any change in accounting policies during the last three years and their effect on the profits and the
reserves of the company.
Nil
Profits of the company, before and after making provision for tax, for the three financial years immediately
preceding the date of circulation of Disclosure Document:-
(In Crores)
Particulars FY14-15 Q1 FY 13-14 FY 12- 13 FY 11- 12
Profit Before Tax 24.55 80.28 47.11 75.98
Tax 1.28 6.98 0.32 7.34
Profit After Tax 23.27 73.30 46.79 68.64
Dividends declared by the Company in respect of the said three financial years; interest coverage ratio for last
three years (Cash profit after tax plus interest paid/interest paid)
(In Rs.)
Particulars FY 13-
14
FY 12-
13
FY 11- 12
Dividend per equity share 0.70 0.65 0.60
Interest coverage ratio 2.43 2.42 2.27
12. (a) Any material event/ development or change having implications on the financials/credit quality (e.g.
any material regulatory proceedings against the Issuer/promoters, tax litigations resulting in material
liabilities, corporate restructuring event etc) at the time of issue which may affect the issue or the
investor’s decision to invest / continue to invest in the debt securities.
NONE
(b) Details of any litigation or legal action pending or taken by any Ministry or Department of the Government
or a statutory authority against any promoter of the offeree Company during the last three years immediately
preceding the year of the circulation of the Disclosure Document and any direction issued by such Ministry or
Department or statutory authority upon conclusion of such litigation or legal action.
NIL
(c) Details of any inquiry, inspections or investigations initiated or conducted under the Companies Act or
any previous company law in the last three years immediately preceding the year of circulation of
Disclosure Document in the case of Company and all of its subsidiaries.
Nil
(d) Details of acts of material frauds committed against the Company in the last three years, if any, and if so,
the action taken by the company.
Nil
(e) Prosecutions filed (whether pending or not) fines imposed, compounding of offences in the last three
years immediately preceding the year of the Disclosure Document and if so, section-wise details thereof
for the Company and all of its subsidiaries.
The Company and its subsidiaries are engaged in Financial services sector and are regulated by sector
specific Regulators. During the normal course of business, for operational non- compliance, monetary
penalties are imposed which are not material/ substantial in nature.
13. The names of the debenture trustee(s) shall be mentioned with statement to the effect that debenture
trustee(s) has given his consent to the Issuer for his appointment under regulation 4 (4) and in all the
subsequent periodical communications sent to the holders of debt securities.
IDBI Trusteeship Services Limited has given their consent to the Issuer vide letter no.
3519/ITSL/OPR/CL/13-14/DEB/749 dated January 3, 2014 to act as Trustee for the Debenture holders
under Regulation 4 (4) of the Debt Regulations.
14. The detailed rating rationale (s) adopted (not older than one year on the date of opening of the issue)/
credit rating letter issued (not older than one month on the date of opening of the issue) by the rating
agencies shall be disclosed.
Credit Analysis & Research Limited (CARE) has assigned CARE AA (Double A) (pronounced “CARE Double
A”) Rating to the Issue upto Rs. 500 crores. Instruments with this rating are considered to have high degree
of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
The letters issued by CARE is enclosed as Annexure F.
15. If the security is backed by a guarantee or letter of comfort or any other document / letter with similar
intent, a copy of the same shall be disclosed. In case such document does not contain detailed payment
structure (procedure of invocation of guarantee and receipt of payment by the investor along with
timelines), the same shall be disclosed in the offer document.
NONE
16. Copy of consent letter from the Debenture Trustee shall be disclosed.
The copy of consent letter vide letter no. 3519/ITSL/OPR/CL/13-14/DEB/749 dated January 3, 2014 issued
by IDBI Trusteeship Services Limited, the Debenture Trustee is enclosed as Annexure G.
17. Names of all the recognised stock exchanges where the debt securities are proposed to be listed clearly
indicating the designated stock exchange
The Debentures are proposed to be listed on BSE Limited. The designated stock exchange is BSE Limited.
18. The Company hereby declares and confirms that it will seek NOC from existing charge holders for release
of charge on the assets on which charge is proposed to be created. - Not Applicable
19. Other details
(a) Debenture Redemption Reserve
Not Appplicable
(b) Name and address of the valuer who performed valuation of the security offered; Not Applicable .
(c) Issue/instrument specific regulations - relevant details (Companies Act, RBI guidelines, etc).
o The Companies Act, 2013 and the applicable Rules as amended from time to time
o SEBI (Issue and Listing of Debt Securities) Regulation, 2008 as amended
The Directors declare that:
(i) the Company has complied with the provisions of the Act and the rules made thereunder;
(ii) the compliance with the Act and the rules does not imply that payment of dividend or interest or
repayment of debentures, if applicable, is guaranteed by the Central Government;
(iii) the monies received under the offer shall be used only for the purposes and objects indicated in the
Offer letter.
(d) Application for the Debentures
How to Apply
Applications for the Debentures must be made in the Application Form and must be completed in block letters in
English by investors. Application Forms must be accompanied by either a demand draft or cheque or electronic
fund transfer instruction drawn or made payable in favour of "Edelweiss Financial Services Limited” and marked
‘A/c Payee Only’ in case of cheques. The full amount of the Debentures applied for has to be paid along with the
delivery of the fully completed and executed Application Form together with other applicable documents
described below.
Cheques/ /electronic fund transfer instruction may be drawn on any bank which is situated and is a member or
sub-member of the Bankers’ clearing houses located at Mumbai. Investors are required to make payments only
through cheques//electronic transfer payable at Mumbai.
In case the payment is made by Real Time Gross Settlement (RTGS), the funds have to be credited to the issuer’s
current account, the details of which are given below:
Name of the Bank ICICI Bank Limited
Name of the account holder Edelweiss Financial Services Limited
Account Number 000405105860
IFSC Code ICIC0000004
The Company assumes no responsibility for any applications/cheques/demand drafts lost in mail or in transit.
Who can Apply
Nothing in this Disclosure Document shall constitute and/or deem to constitute an offer or an invitation to an
offer, to be made to the Indian public or any section thereof through this Disclosure Document, and this
Disclosure Document and its contents should not be construed to be a prospectus under the Companies Act.
The following categories of investors, when specifically approached, are eligible to apply for this private
placement of Debentures
• Individuals
• Hindu Undivided Family
• Trust
• Limited Liability Partnerships
• Partnership Firm(s)
• Portfolio Managers registered with SEBI
• Association of Persons
• Companies and Bodies Corporate including Public Sector Undertakings.
• Commercial Banks
• Regional Rural Banks
• Financial Institutions
• Insurance Companies
• Mutual Funds
• Any other investor eligible to invest in these Debentures
All investors are required to comply with the relevant regulations/guidelines applicable to them for investing in
this Issue.
This Disclosure Document and the contents hereof are restricted for only the intended recipient(s) who have
been addressed and only such recipients are eligible to apply for the Debentures. Furthermore, NRIs, OCBs, FIIs
and other persons resident outside India are not eligible to apply for or hold the Debentures.
Application by Banks/Corporate Bodies/Mutual Funds/FIs/Trusts/Statutory Corporations
The applications must be accompanied by certified true copies of (i) Memorandum and Articles of
Association/constitution/bye-laws/trust deed; (ii) resolution authorizing investment and containing operating
instructions; and (iii) specimen signatures of authorized signatories; Application made by an Asset Management
Company or custodian of Mutual Fund shall clearly indicate the name of the concerned scheme for which
application is being made.
Application under Power of Attorney
A certified true copy of the power of attorney or the relevant authority as the case may be along with the names
and specimen signatures of all authorised signatories must be lodged along with the submission of the completed
Application Form. Further, modifications/additions in the power of attorney or authority should be delivered to
the Company at its Corporate Office.
PAN
Each of the applicants should mention his/her/their PAN allotted under the IT Act. Applications without PAN will
be considered incomplete and are liable to be rejected.
Basis of Allotment
The Company has the sole and absolute right to allot the Debentures to any applicant.
Right to Accept or Reject Applications
The Company is entitled at its sole and absolute discretion to accept or reject any application, in part or in full,
without assigning any reason. Application Forms that are not complete in all respects shall be rejected at the sole
and absolute discretion of the Company.
Payment of Coupon/ Interest
Coupon/ Interest will be paid only to the Debenture holders registered in the Register of Debenture holders or in
the Depository Records. The determination of the persons entitled to receive Coupon in respect of the
Debentures (i.e., persons whose names are registered in the register of Debenture holders or the Depositories’
record) shall be made on the Record Date. In the case of joint holders of Debentures, Coupon shall be payable to
the first named Debenture holder.
Redemption
The entire principal amount of the Debentures will be repaid, on or before the Redemption Date. No surrender of
debentures by the debenture holders will be allowed prior to the redemption date.
The Debentures held in the dematerialised form shall be taken as discharged on payment of the redemption
amount by the Company on maturity to the registered debentureholders whose name appears in the Register of
debentureholders on the record date. Such payment will be a legal discharge of the liability of the Company
towards the debentureholders. On such payment being made, the Company will inform Depository and
accordingly, the account of the debentureholders with Depository will be adjusted. On the Company dispatching
the amount as specified above in respect of the Debentures, the liability of the Company shall stand extinguished. The Company's liability to the debentureholders towards all their rights including for payment or otherwise shall
cease and stand extinguished from the due dates of redemption in all events. Further the Company will not be
liable to pay any compensation from the dates of such redemption.
Place,Currency and Mode of Payment
All obligations of the Company on the Debentures including Coupon, are payable at Mumbai in Indian Rupees
only. The payments will be made through cheques or RTGS/NEFT/Fund Transfer mode. Issue of Debentures in Dematerialised Form
The Debentures will be issued only in dematerialized form. The trading in Debentures will be in dematerialized
mode only. The Company has made arrangements with the depositories for the issue of the Debentures in
dematerialised form. Investors will have to hold the Debentures in dematerialised form as per the provisions of
Depositories Act. The Depository Participant’s name, DP-ID and beneficiary account number must be mentioned
at the appropriate place in the Application Form. The Company shall take necessary steps to credit the
Debentures allotted to the depository account of the investor.
Succession
In the event of demise of a Registered Debenture holder of the Debentures, or the first holder in the case of joint
holders, the Company will recognize the executor or administrator of the demised Debenture holder or the
holder of succession certificate or other legal representative of the demised Debenture holder as the Registered
Debentures holder of such Registered Holder’s Debentures if such a person obtains probate or letter of
administration or is the holder of succession certificate or other legal representation, as the case may be, from a
Court in India having jurisdiction over the matter and delivers a copy of the same to the Company. The Company
may in its absolute discretion, where it thinks fit, dispense with the production of the probate or letter of
administration or succession certificate or other legal representation, in order to recognize such holder as being
entitled to the Debentures standing in the name of the demised Debenture holder(s) on production of sufficient
documentary proof or indemnity. In case a person other than individual holds the Debentures, the rights in the
Debentures shall vest with the successor acquiring interest therein, including liquidator or such any person
appointed as per the applicable law.
Notices
The notices, communications and writings to the Debenture holder(s) required to be given by the Company shall
be deemed to have been given if sent by registered post to the Registered Debenture holder(s) at the address of
the Debenture holder(s) registered with the Corporate Office.
All notices, communications and writings to be given by the Debenture holder(s) shall be sent by registered post
or by hand delivery to the Company at its Corporate Office or to such persons at such address as may be notified
by the Company from time to time and shall be deemed to have been received on actual receipt of the same. Rights of Debenture holders
The Debenture holder(s) shall not be entitled to any right and privileges of shareholders other than those
available to them under the Companies Act. The Debenture shall not confer upon the holder the right to receive
notice(s) or to attend and to vote at any general meeting(s) of the shareholders of the Company.
Modifications of Rights
The rights, privileges and conditions attached to the Debentures may be varied, modified or abrogated upon a Special
Request or by a Special Resolution duly passed at the meeting of the Debentureholders convened in accordance with the
provisions set out in the Fifth Schedule of the Debenture Trust Deed.
Future Borrowings
The Company shall be entitled, from time to time, to make further issue of Debentures, other debt securities
(whether pari passu or junior to the Debentures) and other instruments and securities to any person or persons
including to the public or a section of the public and/or members of the Company and/or to raise further loans,
advances and/or avail further financial and/or guarantee facilities from financial institutions, banks and/or any
other person(s) without any further approval from or notice to the Debenture holders/Debenture Trustee.
Tax Benefits
A debenture holder is advised to consider in his own case the tax implications in respect of subscription to the
Debentures after consulting his tax advisor.
Refund Cheques
Loss of refund cheques should be intimated to the Company immediately. Upon receipt of request for issue of
duplicate refund cheques, the Company shall consider the same and such issue of duplicate cheques shall be
governed by applicable law and any other conditions as may be prescribed by the Company.
Debenture Trustee
The Company has appointed IDBI Trusteeship Services Limited as the Debenture Trustee. All the rights and
remedies of the Debenture holders shall vest in and shall be exercised by the Debenture Trustee without
referring to the Debenture holders. All investors are deemed to have irrevocably given their authority and
consent to IDBI Trusteeship Services Limited to act as their debenture trustee and for doing such acts and signing
such documents to carry out their duty in such capacity. Any payment by the Company to the Debenture Trustee
on behalf of the Debenture holders shall discharge the Company pro tanto to the Debenture holders.
Resignation/retirement of the Debenture Trustee shall be as per terms of the trust deed to be entered into
between the Company and the Debenture Trustee. A notice in writing to the Debenture holders shall be provided
for the same.
Anti Money Laundering
Since these debentures are issued in “compulsory demat mode” and the Company uses depository system for
allotment of the debentures, KYC checks conducted by depository participants at the time of accepting the
customer or transaction under the prevention of money laundering policy adopted by depositories or depository
participant shall be considered adequate irrespective of risk level of the customer or transaction. However, as a
matter of a good practice, Company may examine transactions/clients that may fall under “suspicious
transactions” category as defined under Prevention of Money Laundering Act, 2002 and seek further information
from the clients.
20. MANAGEMENT’S PERCEPTION OF RISK FACTORS
The Issuer believes that the following risk factors may affect its ability to fulfil its obligations in respect of the
Debentures. All of these factors are contingencies which may or may not occur and the Issuer is not in a position
to express a view on the likelihood of any such contingency occurring.
Potential investors should perform their own independent investigation of the financial condition and affairs of
the Issuer, and their own appraisal of the creditworthiness of the Issuer. Potential investors should consult their
own financial, legal, tax and other professional advisors as to the risks and investment considerations with
respect to the Debentures. Potential investors should thereafter form their own views prior to making any
investment decision.
POTENTIAL INVESTORS ARE ADVISED TO CAREFULLY READ THESE PRINCIPAL RISKS ASSOCIATED WITH THE
DEBENTURES. THESE RISKS ARE NOT, AND ARE NOT INTENDED TO BE, A COMPLETE LIST OF ALL RISKS AND
CONSIDERATIONS RELEVANT TO THE DEBENTURES OR THE POTENTIAL INVESTOR’S DECISION TO PURCHASE THE
DEBENTURES.
Please note that unless specified or quantified in the relevant risk factors, the Issuer is not in a position to
quantify the financial or other implications of any risk mentioned herein below:
INTERNAL RISK FACTORS
1. Repayment of principal is subject to the credit risk of the Issuer:
Potential investors should be aware that receipt of the principal amount, (i.e. the redemption amount)
and any other amounts that may be due in respect of the Debentures is subject to the credit risk of the
Issuer. Potential investors assume the risk that the Issuer will not be able to satisfy its obligations under
the Debentures. In the event that bankruptcy proceedings or composition, scheme of arrangement or
similar proceedings to avert bankruptcy are instituted by or against the Issuer, the payment of sums due
on the Debentures may not be made or may be substantially reduced or delayed.
2. The secondary market for the Debentures may be illiquid.
The Debentures may be illiquid and no secondary market may develop in respect thereof. Even if there is
a secondary market for the Debentures, it is not likely to provide significant liquidity. Potential investors
may have to hold the Debentures until redemption to realize any value.
3. Credit Risk & Rating Downgrade Risk
CARE has assigned “CARE AA” (Double A) (pronounced “CARE Double A”) rating for long term Debentures
upto Rs. 500 Crores issued in the present Issue. The Issuer cannot guarantee that this rating will not be
downgraded. In the event of deterioration in the financial health of the Issuer, there is a possibility that
the Rating Agency may downgrade the rating of the Debentures. Such a downgrade in the credit rating
may lower the value of the Debentures.
4. Security may be insufficient to redeem the Debentures
The Security for the Debentures consists of a first pari passu mortgage and charge over the Mortgaged
Premises and a charge on the Receivables and Stock in trade to the extent equal to the principal and
interest amounts of the Debentures outstanding at any point of time;
In the event that the Company is unable to meet its payment and other obligations towards
Debentureholders under the terms of the Issue, the Debenture Trustee may enforce the Security as per
the terms of the Debenture Trust Deed and other related documents.
5. Any change in the laws regulating our business may have an adverse impact our business and
impacting our profitability.
The Issuer is subject generally to changes in Indian law, as well as to changes in government regulations
and policies and accounting principles. Any change in the regulatory framework could adversely affect
the profitability of the Issuer or its future financial performance, by requiring a restructuring of its
activities, increasing costs or otherwise.
6. Our exposure to legal and regulatory liability is significant and may subject the Issuer to penalties;
There are also certain legal proceedings involving our Company and our Group companies.
We face significant legal risks in our business and the damages claimed against financial intermediaries
like us might be significant. These risks often may be difficult to assess or quantify and their existence and
magnitude often remain unknown for substantial periods of time.
The RBI vide its letter dated October 12, 2006 passed an order against the Company for non compliance
with the reporting requirements provided in Paragraph 9 (1) (A) and 9 (1)(B) of Schedule 1 to Foreign
Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations
2000 FEMA 20/2000-RB as well as paragraph 9(1) (A) of RBI Circular 16 dated October 4, 2004. These
violations include delay in reporting of receipt of remittance towards share subscription from certain
investors, delay in filing a statutory Form FC-GPR and not obtaining prior approval for transfer of shares
from resident to non-resident.
Further, Mr. Rashesh Shah and Mr. Venkatchalam Ramaswamy as trustees of Edelweiss Employee
Welfare Trust, transferred 125, 000 equity shares of Rs. 2 face value each to Mr. Navtej Nandra who is a
NRI, for which prior approval, as was required, was not obtained.
The above offences were compounded by RBI compounding order CA No 81/2006 dated March 28, 2007
against payment of penalty of Rs. 1.5 lakh.
The Company had received a notice from the RBI to make a compounding application for non-compliance
of the FEMA provisions in respect of the inward foreign remittance. On an application made in this
regard, RBI vide Compounding Order CA No 2230/2012 dated June 11, 2012 levied a penalty of Rs.
10,000. The said penalty has been discharged by the Company.
In the past SEBI has settled and passed the Consent Order on May 11, 2011, disposing off the proceedings
against the Company, with respect to its Merchant Banking operations. The Company had also submitted
an offer of settlement with Securities and Exchange Commission, USA (SEC) and the same was accepted
by SEC without admitting or denying the findings, in relation to their charges of non-registration as a
broker dealer while acting as a Book Running Lead Manager /Co lead manager in the private placement /
initial public offering / further public offering of Indian issuers, wherein shares were sold or marketed and
also for providing brokerage services to U.S. investors during the period 2008-2011.
The regulators, may, in ongoing and or future proceedings, pass order that could restrict, stop or hamper
our operations, or a part thereof, or levy penalties in connection therewith. This would in turn adversely
affect our operations and profitability.
There are outstanding litigations against our Company and our Group Companies. Decisions in such
proceedings adverse to our interests may have a material adverse effect on us, our results of operations,
reputation and business prospects.
7. The Contingent Liability of the Issuer as on June 30, 2014 could adversely affect its financial position
As on June 30, 2014, the Company had contingent liabilities inter alia in the form of corporate guarantees
etc. provided on behalf of various subsidiaries in favour of various counterparties. If any of these
contingent liabilities materialise, EFSL business, financial condition and results of operation could be
adversely affected.
EXTERNAL RISK FACTORS
8. Any slowdown in the Indian economy or volatility in global commodity prices, could adversely affect our
business and impact our performance.
9. Any political instability could delay the reform of the Indian economy, which could materially adversely
impact our business.
10. Terrorist attacks or war or conflicts involving countries in which we operate or where our customers are
located could adversely affect the financial markets and adversely affect our business.
11. Natural calamities could have an adverse impact on the economies in which we have operations, which
could adversely affect our business and the price of our Equity Shares and the Debentures.
12. The markets for securities bearing emerging market risks, are, to varying degrees, influenced by
economic and securities market conditions in other emerging market countries, including India.
Accordingly, the price and liquidity of the Equity Shares and the Debentures may be subject to significant
fluctuations, which may not necessarily be directly or indirectly related to our financial performance.
13. Any adverse revision to India's credit rating for domestic and international debt by international rating
agencies may adversely impact our ability to raise additional financing and the interest rates and other
commercial terms at which such additional financing is available.
UNDERTAKINGS BY THE INVESTOR:
The following risks associated to the Debentures, is subject to and pursuant to the terms of the Debentures as
provided in this Disclosure Document. The initial subscriber by subscribing to, and any subsequent purchaser by
purchasing the Debentures, shall be deemed to have agreed, and accordingly the Company shall be entitled to
presume, that each of the initial subscriber, and any subsequent purchaser (Debenture holder, as also referred to
hereinabove and hereinafter):
(A) has
(1) sufficient knowledge (including of applicable laws, rules, regulations, circulars), experience and expertise
as an investor, to make the investment in such Debentures;
(2) not relied on either of the Company, or any of its affiliates, holding company, or any person acting on its
behalf for any information, advice or recommendations of any sort except as regards the accuracy of the
specific factual information about the terms of the Debentures as set out in the Disclosure Document;
(3) understood that information contained in the Disclosure Document, or any other document issued by the
Company is not being construed as business or investment advice; and
(4) made an independent evaluation and judgment of all risks and merits before investing in the
Debentures;
(B) has understood there may be delay in listing of that the Debentures and even after being listed, may not be
marketable or may not have a market at all;
(C) has understood that in the event that the Debenture holder suffers adverse consequences or loss, the
Debenture holder shall be solely responsible for the same and the Company, or any of its affiliates, holding
company, or any person acting on its behalf shall not be responsible, in any manner whatsoever, for any
adverse consequences or loss suffered by the Debenture holder, including but not limited to, on the basis of
any claim that no adequate disclosure regarding the risks involved was made or that the full risks involved
were not explained or understood;
(D) has reviewed the terms and conditions applicable to the Debentures as contained in the Disclosure
Document, and understood the same, and, on an independent assessment thereof, confirmed the same to
be correct and, found the same acceptable for the investment made and has also reviewed the risk
disclosure with respect to the Debentures, and understood the risks, and determined that the Debentures
are a suitable investment.
(E) has received all the information believed to be necessary and appropriate or material in connection with,
and for, the investment in the Debentures;
(F) holds the Debentures as an investment and has not purchased the Debentures on a speculative basis;
(G) as an investor, is knowledgeable about applicable laws, rules, regulations with respect to the Debentures
and is experienced in making investments,;
(I) in investing in the Debentures:
(i) has obtained such independent and appropriate financial, tax, accounting and legal advice as required
and/or deemed necessary, to enable the Debenture holder to independently evaluate, assess and
understand the appropriateness, merits and risks associated with investing in the Debentures, and also as
to the Debenture holders’ legal competency and ability (including under applicable laws and regulations),
to invest in the Debentures;
(H) undertakes that, if the Debenture holder sells the Debentures to subsequent investors, the Debenture
holder shall ensure, and it is the Debenture holder’s obligation in that regard, that:
(1) the subsequent investors receive the terms and conditions, risks and representations contained in the
Disclosure Document and any other related document and fully understand the Debentures,
(2) sale to subsequent investors will be subject to such investors having confirmed the receipt of all of (1)
above,
(3) the sale and transfer of the Debentures shall be effected only in the manner stipulated: by the Stock
Exchange in accordance with the rules, regulations and bye-laws of the Stock Exchange;
(I) has the legal ability to invest in the Debentures, and the investment does not contravene any provision of
any law, regulation or contractual restriction or obligation or undertaking binding on or affecting the
Debenture holder, or its assets;
(J) where the Debenture holder is a partnership firm:-
(i) its investing in the Debentures on its terms is within the scope of its investment policy and is not in
conflict with the provisions of the partnership deed currently in force;
(ii) the investment in Debentures is being made by and on behalf of the partners (and binds all the
partners jointly and severally), and that the partnership is in force and existing, and the investment has
been ratified by all of the partners, jointly and severally;
(iii) the investment in Debentures has been duly authorised by all the partners, and does not contravene
any provisions of the partnership deed, or any law, regulation or contractual restriction or obligation or
undertaking binding on or affecting the partnership or its assets or any of the partners or their
respective assets;
(iv) for any minor as may have been admitted to the benefits of the partnership, the legal guardian of the
minor has confirmed that the above applies equally to the minor as if the minor were a partner; and
(v) for any Hindu Undivided Family (“HUF”) that may be partner, the Karta declares that the above equally
binds each of the co-parcenors and beneficiaries of the HUF; and
(K) where the Debenture holder is a Company, also confirms that:-
(i) notwithstanding the variable nature of the return on the Debentures, the Debenture holder is not
precluded under any law, rules, regulations and/ or circular/s issued by any statutory authority/ies
including under the Companies Act, 2013 and the Rules framed thereunder, from investing in the
Debentures;
(ii) all necessary corporate or other necessary action has been taken to authorize, and that the
Debentureholder has corporate ability and authority, to invest in the Debentures; and
(iii) investment in the Debentures does not contravene any provisions of the memorandum and the articles
of association, or any law, regulation or contractual restriction or obligation or undertaking binding on
or affecting the Debenture holder or the Debenture holder’s assets.
(L) where there is an intermediary who sells the Debentures (“Intermediary”), it also confirms that:-
(i) it is registered with SEBI;
(ii) it is fully in compliance with the laws and regulations applicable to it including the Prevention of Money
Laundering Act, 2002 (“PML Act”), the Prevention of Money Laundering (Maintenance of Records of the
Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing
Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking
Companies, Financial Institutions and Intermediaries) Rules, 2005 (“PML Rules”), the requirements of
Circular dated 20th March 2006 “Guidelines on Anti-Money Laundering Standards” of the SEBI (“AML
Guidelines”) together with the PML Act and the PML Rules, the “AML Laws & Rules”), all applicable
know-your-client norms (“KYC Guidelines”) and all applicable rules, regulation and guidelines issued by
any relevant regulator;
(iii) the Intermediary is appropriately selling the Debentures to its Clients /the investor(s) and such sale of
the Debentures is within the scope of its authority and accordingly binds each of the Clients/ investor(s).
The Intermediary has independently satisfied itself:
(a) as to the suitability and appropriateness of the investment in the Debentures as regards each of
the Clients / investor(s);
(b) as to the capacity and authority of each of the Clients / investor(s) to invest in such Debentures
including obtaining of any licenses, authorizations, permissions, sanctions, consents or approvals;
and
(c) that such sale of the Debentures will not contravene any applicable law.
(iv) Should there be any dispute by the Clients / investor(s) or any of them as regards the investment in the
Debentures including but not limited to the scope of its authority with regard to such investment, the
Intermediary shall be deemed to be the principal and any loss or liability arising out of the investment in
the Debentures shall be to Intermediary’s own account and/or dealt with entirely by the Intermediary
with each of the Clients / investor(s), with no reference to the Issuer;
(v) the Intermediary has conducted suitability and appropriateness checks on each of its clients / the
investor(s) and the Intermediary has fully advised each of its Clients / the investor(s) of the risks relating
to investment in the Debentures and the rights of such Clients / investor(s) against the Intermediary as
its principal and accepts responsibility for such advice;
(vi) the Intermediary has strictly complied with all applicable AML Laws & Rules and KYC Guidelines in
relation to each of the Clients / investor(s);
(vii) the Intermediary consents to the disclosure or provision by the Issuer to any governmental or
regulatory authority, or under any requirement of law, any information regarding the Client / investor
(to the extent made available to the Issuer by the Intermediary) and the investment in the Debenture,
as required of the Issuer under applicable regulations and/or as requested by any governmental or
regulatory authority or under a provision of law;
(viii) the Intermediary has ensured that the Client / investor has understood the risks involved in investment
in the Debentures and is capable of taking the risks posed by the Debentures and has satisfied itself that
the Debentures are suitable to the risk profile of the Client / investor and on request of the Issuer, the
Intermediary shall produce documentary evidence to substantiate the same;
(ix) the Intermediary shall provide its Clients / the investor(s) with a copy of the Offer Document;
(x) the Intermediary further agrees to provide to the Issuer such additional information that the Issuer
deems necessary or appropriate in order for the Issuer to comply with any such regulations and/or
requests or requirements;
(xi) the Intermediary also further agrees (including on the basis of any request made by the Issuer in this
regard), to provide, to any governmental or regulatory authority any information regarding any or all of
the Clients / investor(s), the investment in the Debenture as required under regulations and/or as
requested by any governmental or regulatory or other authority;
(xii) the Intermediary further agrees that it is appropriately selling these Debentures to its Clients / the
investor(s) and that the activities of the Intermediary has not violated and will not violate applicable
laws. The Intermediary confirms and undertakes that it has not and will not use the name of the Issuer
or any of its group entities or any of the words in any of its advertisement or any marketing material
and the Intermediary has not acted and shall not act in a manner that would render this Issue of
Debentures, an offer to the public; and
(xiii) the Intermediary shall be responsible and liable to the Issuer for any penalties, losses etc. occasioned to
the Issuer, its directors or employees, as a result of default or breach by the Intermediary of the
confirmations / declarations contained hereinabove.
21. Disclaimers
This Disclosure Document in relation to the Debentures is made available by the Company to the applicant on the
further strict understanding that
(i) the applicant is a “Person Resident in India” as defined under the Foreign Exchange Management Act,
1999,
(ii) in providing this Disclosure Document to the applicant, the applicant confirms that there will be no
violation of rules, regulations and byelaws issued by any applicable authority including those issued by
the Securities and Exchange Board of India;
(iii) the applicant has sufficient knowledge, experience, and professional advice to make his own evaluation
of the merits and risks of a transaction of the type under this Disclosure Document; and
(iv) the applicant is not relying on the Issuer nor on any of the affiliates or the Holding Company for
information, advice or recommendations of any sort except for the accuracy of specific factual
information about the possible terms of the transaction.
The Company is not acting as the advisor or agent of the applicant. This Disclosure Document does not purport to
identify for the applicant, the risks (direct or indirect) or other material considerations, which may be associated
with the applicant entering into the proposed transaction. Prior to entering into any proposed transaction, the
applicant should independently determine, without reliance upon the Company or the affiliates of the Company
or the Holding Company, the economic risks and merits, as well as the legal, tax, and accounting characterizations
and consequences of the transaction and including that the applicant is able to assume these risks.
This Disclosure Document and its contents are the Company’s property, and are to be considered proprietary
information and may not be reproduced or otherwise disseminated in whole or in part without the Issuer’s
written consent unless required to by judicial or administrative proceeding, and then with prior notice to the
Company.
No liability whatsoever is accepted for any loss arising (whether direct or consequential) from any use of the
information contained in this Disclosure Document. The Company undertakes no obligation to effect any updates
on information. Any opinions attributed to the Company, and/or the affiliates of the Company and / or the
Holding Company constitute the Company’s judgment as of the date of the material and are subject to change
without notice. Provision of information may cease at any time without reason or notice being given.
NOTE:
This Disclosure Document is not intended for distribution and it is meant solely for the consideration of the
person to whom it is addressed and should not be reproduced by the recipient. The Debentures mentioned
herein are being issued on a private placement basis and this offer does not constitute nor should it be
considered a public offer/invitation. Nothing in this Disclosure Document shall constitute and/or deem to
constitute an offer or an invitation to an offer to the Indian public or any section thereof to subscribe for or
otherwise acquire the Debentures. This Disclosure Document and the contents hereof are restricted for only the
intended recipient(s) who have been addressed directly through a communication by the Company and have
been marked against the serial number provided herein and only such recipients are eligible to apply for the
Debentures. Furthermore, NRIs, OCBs, FIIs and other persons resident outside India are not eligible to apply for
or hold the Debentures. All investors are required to comply with the relevant regulations/guidelines applicable
to them for investing in this Issue. The Company or any other parties, whose names appear herein, shall not be
liable for any statements made herein or any event or circumstance arising therefrom. Potential investors are
required to make their own independent evaluation and judgment before making the investment and are
believed to be experienced in investing in debt markets and are able to bear the economic risk of investing in
such instruments.
Stock Exchange Disclaimer Clause
It is to be distinctly understood that filing of this Disclosure Document with the Stock Exchange should not, in any
way, be deemed or construed that the same has been cleared or approved by the Stock Exchange. The Stock
Exchange does not take any responsibility either for the financial soundness of any scheme or the project for
which the Issue is proposed to be made, or for the correctness of the statements made or opinions expressed in
this Disclosure Document.
22. SUMMARY TERM SHEET
Please find below a summary term sheet
Security Name EFSL NCD Oct 5, 2017 EFSL NCD Jan 19, 2018 EFSL NCD Oct 24, 2017
Issuer Edelweiss Financial Services Limited
Type of Instrument Secured Redeemable Non-Convertible Debentures
Nature of Instrument Secured
Seniority Senior
Mode of Issue Private Placement
Issue Size Rs 6.5 Crores Rs 5 Crores Rs 6 Crores
Option to retain
oversubscription (Amount)
Not Applicable
Eligible Investors The following categories of investors, when specifically approached, are eligible to
apply for this private placement of Debentures
• Individuals
• Hindu Undivided Family
• Trust
• Limited Liability Partnerships
• Partnership Firm(s)
• Portfolio Managers registered with SEBI
• Association of Persons
• Companies and Bodies Corporate including Public Sector Undertakings
• Commercial Banks
• Regional Rural Banks
• Financial Institutions
• Insurance Companies
• Mutual Funds
• Any other investor eligible to invest in these Debentures
Minimum Application Size 1 Debenture and in multiples of 1 Debenture thereafter.
Face Value Rs. 10,00,000/- per Debenture
Issue Price Rs. 10,00,000/- per Debenture
Discount at which
Debenture is issued and
the effective yield as a
result of such discount
Not Applicable
Tenor 1074 days 1180 days 1093 days
Yield 10.90 % p.a. 10.90 % p.a. 10.90 % p.a.
Step Up/ Step Down
Coupon Rate
Coupon payment
frequency
on Maturity
Coupon payment dates Not Applicable
Coupon Zero Coupon Zero Coupon Zero Coupon
Coupon Reset Process
(including rates, spread,
effective date, interest
rate cap and floor etc)
Not Applicable
Day Count Basis Actual ⁄ Actual
Interest on Application
Money
Not Applicable
Default interest rate Not Applicable
Redemption Date 05/10/2017 19/01/2018 24/10/2017
Redemption Amount Rs.1355843/-per
debenture
Rs.1397199/-per
debenture
Rs.1363135/-per
debenture
Redemption Premium /
Discount
Rs.355843/-per
debenture
Rs.397199/-per
debenture
Rs.363135/-per
debenture
Discount at which security
is issued and the effective
yield as a result of such
discount
Not Applicable
Put Option Date Not Applicable
Put Option Price Not Applicable
Put Notification Time Not Applicable
Call Option Date Not Applicable
Call Option Price Not Applicable
Call Notification Time Not Applicable
Listing The Company proposes to list the Debentures on the Wholesale Debt Segment of
BSE Limited. The Company confirms that the Debentures would be listed within 20
days from the Deemed Date of Allotment.
Market Lot The minimum lot size for trading shall be 1 Debenture and in multiples of 1
thereafter
Issuance mode of
Debentures
Demat
Trading mode of the
Debentures
Demat
Depository NSDL / CDSL
Security (a) a first pari passu mortgage and charge over the Mortgaged Premises;
(b) a charge on the Current Assets to the extent equal to the Redemption
value of the Debentures.
Security cover of 1x times.
The said security shall be created within 90 days from the Deemed Date of
Allotment.
Rating “CARE AA” (pronounced “CARE Double A”) by CARE. Instruments with this rating
are considered to have high degree of safety regarding timely servicing of financial
obligations
Objects of the Issue The Issuer proposes to augment its long term resources
of funds to carry on its business operations
Details of the Utilisation of
the proceeds
The proceeds of the issue of Debentures would be utilized for general corporate
purposes.
Settlement mode of the
Debentures
Redemption
amount shall be done by RTGS/cheque to the holders of the NCDs as on the Record
Date.
Working day / Business
days Convention
All days except Saturday, Sunday and any public holiday on whi
are open for business.
Holiday Convention Should any of the date(s), including the Date of Allotment/Deemed Date of
Allotment, or the Record Date, as defined in the Disclosure Document, falls on a
Saturday or Sunday or a public holiday
available for any reason whatsoever at a place where the Registered/Corporate
Office is situated, the next Working Day shall be considered as the effective date.
Should the Maturity Date or Redemption Date of the debt s
Saturday, Sunday or a public holiday or no high value clearing or RTGS is available
for any reason whatsoever at a place where the Registered/Corporate Office is
situated, the redemption proceeds shall be paid on the previous working d
Record Date The date, as may be fixed by the Company, which would be 15 days (or such other
date as the Board may decide) for determination of the persons entitled to receive
Interest and/or Principal amount in respect of the Debentures
Conditions Subsequent to
Disbursement
Not Applicable
Conditions Precedent for
Investment
The investment will be subject to conditions, including those stated below:
• Issuer shall meet all the regulatory requirement relating to companies
• Corporate approvals from the
of Issuer shall have been received for the execution, delivery and performance
by Issuer for issuance of NCDs to Investors in accordance with the terms of the
Issuance;
Events of Default
An Event of
circumstances, including those mentioned hereunder:
• Breach of the covenants
• Issuer does not pay, on the due date, any amount payable pursuant to any of
the Transaction Documents;
• If Issuer voluntarily or compulsorily goes into liquidation or ever has a receiver
appointed in respect of its assets or refers itself to the Board for Industrial and
Financial Reconstruction or under any other law providing protection as a relief
undertak
• If Issuer commences a voluntary proceeding under any applicable bankruptcy,
insolvency, winding up or other similar law now or hereafter in effect, or
admits inability to pay its respective debts as they fall due, or consents to the
entry of an order
consents to the appointment of or the taking of possession by a receiver,
liquidator, assignee (or similar official) for any or a substantial part of its
respective property
Provisions related to Cross Not Applicable
obligations. Such instruments carry very low credit risk.
The Issuer proposes to augment its long term resources to meet its requirements
of funds to carry on its business operations
The proceeds of the issue of Debentures would be utilized for general corporate
Redemption proceeds comprising of the value of Principal, Interest and Premium
amount shall be done by RTGS/cheque to the holders of the NCDs as on the Record
All days except Saturday, Sunday and any public holiday on whi
are open for business.
Should any of the date(s), including the Date of Allotment/Deemed Date of
Allotment, or the Record Date, as defined in the Disclosure Document, falls on a
Saturday or Sunday or a public holiday or no high value clearing or RTGS is
available for any reason whatsoever at a place where the Registered/Corporate
Office is situated, the next Working Day shall be considered as the effective date.
Should the Maturity Date or Redemption Date of the debt s
Saturday, Sunday or a public holiday or no high value clearing or RTGS is available
for any reason whatsoever at a place where the Registered/Corporate Office is
situated, the redemption proceeds shall be paid on the previous working d
The date, as may be fixed by the Company, which would be 15 days (or such other
date as the Board may decide) for determination of the persons entitled to receive
Interest and/or Principal amount in respect of the Debentures
Not Applicable
The investment will be subject to conditions, including those stated below:
Issuer shall meet all the regulatory requirement relating to companies
Corporate approvals from the Board of Directors and shareholders (if required)
of Issuer shall have been received for the execution, delivery and performance
by Issuer for issuance of NCDs to Investors in accordance with the terms of the
Issuance;
An Event of Default shall have occurred upon the happening of any event or
circumstances, including those mentioned hereunder:
Breach of the covenants
Issuer does not pay, on the due date, any amount payable pursuant to any of
the Transaction Documents;
If Issuer voluntarily or compulsorily goes into liquidation or ever has a receiver
appointed in respect of its assets or refers itself to the Board for Industrial and
Financial Reconstruction or under any other law providing protection as a relief
undertaking;
If Issuer commences a voluntary proceeding under any applicable bankruptcy,
insolvency, winding up or other similar law now or hereafter in effect, or
admits inability to pay its respective debts as they fall due, or consents to the
entry of an order for relief in an involuntary proceeding under any such law, or
consents to the appointment of or the taking of possession by a receiver,
liquidator, assignee (or similar official) for any or a substantial part of its
respective property
Not Applicable
to meet its requirements
The proceeds of the issue of Debentures would be utilized for general corporate
proceeds comprising of the value of Principal, Interest and Premium
amount shall be done by RTGS/cheque to the holders of the NCDs as on the Record
All days except Saturday, Sunday and any public holiday on which banks in Mumbai
Should any of the date(s), including the Date of Allotment/Deemed Date of
Allotment, or the Record Date, as defined in the Disclosure Document, falls on a
or no high value clearing or RTGS is
available for any reason whatsoever at a place where the Registered/Corporate
Office is situated, the next Working Day shall be considered as the effective date.
Should the Maturity Date or Redemption Date of the debt securities falls on a
Saturday, Sunday or a public holiday or no high value clearing or RTGS is available
for any reason whatsoever at a place where the Registered/Corporate Office is
situated, the redemption proceeds shall be paid on the previous working day.
The date, as may be fixed by the Company, which would be 15 days (or such other
date as the Board may decide) for determination of the persons entitled to receive
Interest and/or Principal amount in respect of the Debentures.
The investment will be subject to conditions, including those stated below:
Issuer shall meet all the regulatory requirement relating to companies
Board of Directors and shareholders (if required)
of Issuer shall have been received for the execution, delivery and performance
by Issuer for issuance of NCDs to Investors in accordance with the terms of the
Default shall have occurred upon the happening of any event or
Issuer does not pay, on the due date, any amount payable pursuant to any of
If Issuer voluntarily or compulsorily goes into liquidation or ever has a receiver
appointed in respect of its assets or refers itself to the Board for Industrial and
Financial Reconstruction or under any other law providing protection as a relief
If Issuer commences a voluntary proceeding under any applicable bankruptcy,
insolvency, winding up or other similar law now or hereafter in effect, or
admits inability to pay its respective debts as they fall due, or consents to the
for relief in an involuntary proceeding under any such law, or
consents to the appointment of or the taking of possession by a receiver,
liquidator, assignee (or similar official) for any or a substantial part of its
Default Clause
Issue Opening Date 27/10/2014
Issue Closing Date 27/10/2014
Pay-in-Date 27/10/2014
Deemed Date of Allotment 27/10/2014
Roles and Responsibilities
of Debenture Trustee
Regulation 15 of the SEBI (Debenture
of the Debenture Trustees including following :
1. Call for periodical reports from the issuer.
2. To take possession of Trust property in accordance with the provisions of
the Trust Deed.
3. To enforce
4. To ensure on a continuous basis that the property charged to debentures
is available and adequate at all times to discharge the Interest and/ or
Principal amount payable to debenture holders.
5. To exer
provisions of the Companies Act, the listing agreement of the stock
exchange or the trust deed.
6. To take appropriate measures for protecting the interest of debenture
holders as soon as there
7. To ascertain that the debentures have been redeemed or converted in
accordance to the provisions of the offer document.
8. To inform SEBI immediately of any breach of trust deed or provision and
law
9. To appoint a Nominee Di
As a Debenture Trustee it may have to take st
1. To ensure that the assets of the company issuing debentures are sufficient
to discharge the principal amount at all times.
2. To satisfy himself that the prospectus does not contain any matter which is
inconsistent with the t
3. To ensure that the company does not commit any breach of covenants of
the Trust Deed or Terms of issue of Debentures.
4. To take such reasonable steps to remedy any breach of the covenants of
the Trust Deed.
5. To take steps to c
meeting is required to be held.
Governing Law and
Jurisdiction
The Debentures are governed by and will be construed in accordance with the
Indian law. The Company, the Debentures and Company’s
Debentures shall, at all times, be subject to the directions of SEBI. The Debenture
holders, by purchasing the Debentures, agree that the Mumbai High Court shall
have exclusive jurisdiction with respect to matters relating to the Debe
Other Terms Security Creation:
In case of delay in execution of Trust Deed and Charge documents, the Company
27/10/2014
27/10/2014
27/10/2014
27/10/2014
Regulation 15 of the SEBI (Debenture Trustees) Regulations 1993, prescribes duties
of the Debenture Trustees including following :
Call for periodical reports from the issuer.
To take possession of Trust property in accordance with the provisions of
the Trust Deed.
To enforce security in the interest of the debenture holders.
To ensure on a continuous basis that the property charged to debentures
is available and adequate at all times to discharge the Interest and/ or
Principal amount payable to debenture holders.
To exercise due diligence to ensure compliance by the issuer with the
provisions of the Companies Act, the listing agreement of the stock
exchange or the trust deed.
To take appropriate measures for protecting the interest of debenture
holders as soon as there is a breach of Trust Deed.
To ascertain that the debentures have been redeemed or converted in
accordance to the provisions of the offer document.
To inform SEBI immediately of any breach of trust deed or provision and
law
To appoint a Nominee Director on the Board of Issuer in the event of:
• Two consecutive defaults in payment of Interest to the Debenture
holders or
• Default in creation of security for debentures or
• Default in redemption of debentures
As a Debenture Trustee it may have to take steps as he may deem fit
To ensure that the assets of the company issuing debentures are sufficient
to discharge the principal amount at all times.
To satisfy himself that the prospectus does not contain any matter which is
inconsistent with the terms of the Debentures.
To ensure that the company does not commit any breach of covenants of
the Trust Deed or Terms of issue of Debentures.
To take such reasonable steps to remedy any breach of the covenants of
the Trust Deed.
To take steps to call a meeting of holders of Debentures as and when such
meeting is required to be held.
The Debentures are governed by and will be construed in accordance with the
Indian law. The Company, the Debentures and Company’s obligations under the
Debentures shall, at all times, be subject to the directions of SEBI. The Debenture
holders, by purchasing the Debentures, agree that the Mumbai High Court shall
have exclusive jurisdiction with respect to matters relating to the Debe
Security Creation:
In case of delay in execution of Trust Deed and Charge documents, the Company
Trustees) Regulations 1993, prescribes duties
To take possession of Trust property in accordance with the provisions of
security in the interest of the debenture holders.
To ensure on a continuous basis that the property charged to debentures
is available and adequate at all times to discharge the Interest and/ or
cise due diligence to ensure compliance by the issuer with the
provisions of the Companies Act, the listing agreement of the stock
To take appropriate measures for protecting the interest of debenture
To ascertain that the debentures have been redeemed or converted in
To inform SEBI immediately of any breach of trust deed or provision and
rector on the Board of Issuer in the event of:-
Two consecutive defaults in payment of Interest to the Debenture
Default in creation of security for debentures or
eps as he may deem fit –
To ensure that the assets of the company issuing debentures are sufficient
To satisfy himself that the prospectus does not contain any matter which is
To ensure that the company does not commit any breach of covenants of
To take such reasonable steps to remedy any breach of the covenants of
all a meeting of holders of Debentures as and when such
The Debentures are governed by and will be construed in accordance with the
obligations under the
Debentures shall, at all times, be subject to the directions of SEBI. The Debenture
holders, by purchasing the Debentures, agree that the Mumbai High Court shall
have exclusive jurisdiction with respect to matters relating to the Debentures.
In case of delay in execution of Trust Deed and Charge documents, the Company
will refund the subscription with agreed rate of interest or will pay penal interest
of atleast 2% p.a. on the Face Value of the Debentures till these conditions are
complied with at the option of the investor.
Default in Payment :
In case of default in payment of interest, premium and/ or principal amount on the
due date, additional interest of
Debentures will be payable by the Company for the defaulting period.
Delay in Listing:
In case of delay in listing of the debt securities beyond 30 days from the Deemed
Date of Allotment, the Company will pay pe
Face Value of the Debenture from the expiry of 30 days from the Deemed Date of
Allotment till the listing of such debt securities to the investor.
The interest rates mentioned in above three cases are the minimum in
payable by the Company and are independent of each other.
Material Transaction
Documents
• Letter appointing IDBI Trusteeship Services Limited, as Trustee to the
Debenture holders (“Debenture Trustee”).
• Letter appointing Link Intime India Pvt
(“Registrar”).
• Memorandum & Articles of Association of the Company.
• Board Resolution dated July 31, 2009 authorizing issue of Debentures
offered under terms of the Disclosure Document.
• Letter from Rating agency conveyin
of the Company (not more than 1 month old from the deemed date of
allotment).
• Rating rationale pertaining to the NCDs.
• Any other documentation in form and substance customary for
Transactions of this nature.
Letter of Allotment The Issuer shall ensure the Debentures are credited to the demat accounts of
investors within 2 working days from the Deemed Date of Allotment
Debenture Trustee IDBI Trusteeship Services Limited
Approvals The Issuer agrees to comply with
Issuer will be responsible for taking all the necessary authorizations and / or
approvals internal, external regulatory, statutory or otherwise
will refund the subscription with agreed rate of interest or will pay penal interest
2% p.a. on the Face Value of the Debentures till these conditions are
complied with at the option of the investor.
Default in Payment :
In case of default in payment of interest, premium and/ or principal amount on the
due date, additional interest of atleast @ 2% p.a. on the Face Value of the
Debentures will be payable by the Company for the defaulting period.
Delay in Listing:
In case of delay in listing of the debt securities beyond 30 days from the Deemed
Date of Allotment, the Company will pay penal interest of atleast 1 % p.a. on the
Face Value of the Debenture from the expiry of 30 days from the Deemed Date of
Allotment till the listing of such debt securities to the investor.
The interest rates mentioned in above three cases are the minimum in
payable by the Company and are independent of each other.
Letter appointing IDBI Trusteeship Services Limited, as Trustee to the
Debenture holders (“Debenture Trustee”).
Letter appointing Link Intime India Pvt Ltd as Registrar and Transfer Agent
(“Registrar”).
Memorandum & Articles of Association of the Company.
Board Resolution dated July 31, 2009 authorizing issue of Debentures
offered under terms of the Disclosure Document.
Letter from Rating agency conveying the credit rating for the Debentures
of the Company (not more than 1 month old from the deemed date of
allotment).
Rating rationale pertaining to the NCDs.
Any other documentation in form and substance customary for
Transactions of this nature.
The Issuer shall ensure the Debentures are credited to the demat accounts of
investors within 2 working days from the Deemed Date of Allotment
IDBI Trusteeship Services Limited
The Issuer agrees to comply with all applicable laws in respect of the Issue. The
Issuer will be responsible for taking all the necessary authorizations and / or
approvals internal, external regulatory, statutory or otherwise
will refund the subscription with agreed rate of interest or will pay penal interest
2% p.a. on the Face Value of the Debentures till these conditions are
In case of default in payment of interest, premium and/ or principal amount on the
atleast @ 2% p.a. on the Face Value of the
Debentures will be payable by the Company for the defaulting period.
In case of delay in listing of the debt securities beyond 30 days from the Deemed
nal interest of atleast 1 % p.a. on the
Face Value of the Debenture from the expiry of 30 days from the Deemed Date of
Allotment till the listing of such debt securities to the investor.
The interest rates mentioned in above three cases are the minimum interest rates
Letter appointing IDBI Trusteeship Services Limited, as Trustee to the
Ltd as Registrar and Transfer Agent
Memorandum & Articles of Association of the Company.
Board Resolution dated July 31, 2009 authorizing issue of Debentures
g the credit rating for the Debentures
of the Company (not more than 1 month old from the deemed date of
Any other documentation in form and substance customary for
The Issuer shall ensure the Debentures are credited to the demat accounts of
investors within 2 working days from the Deemed Date of Allotment
all applicable laws in respect of the Issue. The
Issuer will be responsible for taking all the necessary authorizations and / or
approvals internal, external regulatory, statutory or otherwise
Annexure A
Details of Non Convertible Debentures as on June 30, 2014
Debenture Series Tenor/ Period
of Maturity
Coupon Amount Date of
Allotment
Redemption
Date/
Schedule
Credit Rating Secured/
Unsecured
Security
EFSL NCD
27Nov2016
2 years 9
months 26
days
Zero Rs. 60
Crores
January 21,
2014
November
16, 2016
CARE AA
(pronounced “CARE
Double A”)
Secured Refer DTD dated
April 17, 2014
EFSL NCD
28Sept2015
18 months Fixed Rs. 75
Crores
March 28,
2014
September
28, 2015
CARE AA
(pronounced “CARE
Double A”)
Secured Refer DTD dated
April 17, 2014
EFSL NCD
21Apr2016
2 years Fixed Rs. 10
Crores
March 28,
2014
April 21,
2016
CARE AA
(pronounced “CARE
Double A”)
Secured Refer DTD dated
April 17, 2014
Annexure B
Details of Corporate Guarantee issued by
Edelweiss Financial Services Limited as on June 30, 2014
(Rs. In Crores)
Name of the Entities Corporate Guarantee given by
EFSL
ECL Finance Limited 3,567.29
Edelweiss Commodities Services
Limited
742.00
Edelweiss Housing Finance Limited 1,230.00
Edelweiss Securities Limited 990.00
Edelweiss Finance & Investments
Limited
47.00
EC Global Limited 90.14
Aster Commodities DMCC 294.46
Edel Intl (Singapore) 270.42
Grand Total 7,231.31
Consolidated Financial Results for the quarter and year ended 31 March 2012
(Rs. in Crores)
Particulars March December March March March
31, 2012 31, 2011 31, 2011 31, 2012 31, 2011
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
1 Income from operations
(a) Fee and commission income 92.27 76.93 102.33 321.31 414.05
(b) Interest and treasury income 365.48 369.69 274.87 1,309.95 1,006.84
(c) Premium from Life Insurance business 7.49 2.46 0.00 10.72 0.00
(d) Other operating income 4.12 2.03 4.28 10.98 14.72
Total income from operations 469.36 451.11 381.48 1,652.96 1,435.61
2 Expenses
(a) Employee benefits expense 78.07 69.72 64.20 271.21 235.42
(b) Depreciation and amortisation expense 15.64 12.31 6.74 42.19 20.40
(c) Other expenses 91.80 90.76 79.45 328.94 290.21
Total expenses 185.51 172.79 150.39 642.34 546.03
3 Profit / (Loss) from operations before other income and finance costs (1-2) 283.85 278.32 231.09 1,010.62 889.58
4 Other income 5.63 -0.82 1.10 8.19 3.58
5 Profit / (Loss) from ordinary activities before finance costs (3+4) 289.48 277.50 232.19 1,018.81 893.16
6 Finance costs 234.60 234.52 158.67 829.65 532.85
7 Profit / (Loss) before tax (5-6) 54.88 42.98 73.52 189.16 360.31
8 Tax expense 22.64 16.23 16.25 68.09 103.10
9 Net Profit / (Loss) after tax (7-8) 32.24 26.75 57.27 121.07 257.21
10 Share of profit / (loss) of associates 4.01 3.50 -9.29 9.54 -10.29
11 Minority interest -2.51 0.81 4.72 2.87 13.90
12 Net Profit / (Loss) after taxes, minority interest and share of profit / (loss) of associates (9+10-11) 38.76 29.44 43.26 127.74 233.02
13 Paid-up equity share capital (Face Value of Re. 1/- Per Share) 75.68 75.66 75.20 75.68 75.20
14 Reserves excluding Revaluation Reserves 2,559.17 2,364.68
15 Earnings Per Share (EPS) in Rupees (Face Value of Re. 1/- Per Share)
- Basic (Not annualised) 0.51 0.39 0.58 1.69 3.10
- Diluted (Not annualised) 0.50 0.38 0.56 1.66 3.00
16 PARTICULARS OF SHAREHOLDING
a Public shareholding
- Number of shares 47,10,83,590 47,09,30,590 46,63,10,590 47,10,83,590 46,63,10,590
- Percentage of shareholding 62.25% 62.24% 62.01% 62.25% 62.01%
ANNEXURE - C
Quarter Ended Year Ended
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838
b Promoters & promoter group shareholding
a) Pledged/ Encumbered
- Number of shares 3,52,16,667 3,52,16,667 3,26,00,000 3,52,16,667 3,26,00,000
- Percentage of shares (as a % of total shareholding of promoter and promoter group) 12.33% 12.33% 11.41% 12.33% 11.41%
- Percentage of shares (as a % of total share capital of the company) 4.65% 4.65% 4.33% 4.65% 4.33%
b) Non-encumbered
- Number of shares 25,04,99,023 25,04,99,023 25,31,15,690 25,04,99,023 25,31,15,690
- Percentage of shares (as a % of total shareholding of promoter and promoter group) 87.67% 87.67% 88.59% 87.67% 88.59%
- Percentage of shares (as a % of total share capital of the company) 33.10% 33.11% 33.66% 33.10% 33.66%
Standalone Financial Results for the quarter and year ended 31 March 2012
(Rs. in Crores)
Particulars March December March March March
31, 2012 31, 2011 31, 2011 31, 2012 31, 2011
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
1 Income from operations 52.79 46.04 111.52 206.95 439.55
2 Expenses
(a) Employee benefits expense 7.78 9.25 9.99 37.35 37.85
(b) Depreciation and amortisation expense 0.47 0.42 0.45 1.71 1.42
(c) Other expenses 5.95 10.64 14.30 32.63 37.75
Total expenses 14.20 20.31 24.74 71.69 77.02
3 Profit / (Loss) from operations before other income and finance costs (1-2) 38.59 25.73 86.78 135.26 362.53
4 Other income 0.26 0.00 0.00 0.34 0.00
5 Profit / (Loss) from ordinary activities before finance costs (3+4) 38.85 25.73 86.78 135.60 362.53
6 Finance costs 23.21 14.43 77.40 59.62 300.16
7 Profit / (Loss) before tax (5-6) 15.64 11.30 9.38 75.98 62.37
8 Tax expense 0.09 0.68 -4.25 7.34 3.65
9 Net Profit / (Loss) after tax (7-8) 15.55 10.62 13.63 68.64 58.72
10 Paid-up equity share capital (Face Value of Re. 1/- Per Share) 75.68 75.66 75.20 75.68 75.20
11 Reserves excluding Revaluation Reserves 1,274.95 1,247.73
12 Earnings Per Share (EPS) in Rupees (Face Value of Re. 1/- Per Share)
- Basic (Not annualised) 0.21 0.14 0.18 0.91 0.78
- Diluted (Not annualised) 0.20 0.14 0.18 0.89 0.76
13 Debt Service Coverage Ratio (DSCR) * 0.06 0.10
14 Interest Service Coverage Ratio (ISCR) ** 2.27 1.21
15 PARTICULARS OF SHAREHOLDING
a Public shareholding (Refer note 6)
- Number of shares 47,10,83,590 47,09,30,590 46,63,10,590 47,10,83,590 46,63,10,590
- Percentage of shareholding 62.25% 62.24% 62.01% 62.25% 62.01%
b Promoters & promoter group shareholding (Refer note 6)
a) Pledged/ Encumbered
- Number of shares 3,52,16,667 3,52,16,667 3,26,00,000 3,52,16,667 3,26,00,000
- Percentage of shares (as a % of total shareholding of promoter and promoter group) 12.33% 12.33% 11.41% 12.33% 11.41%
- Percentage of shares (as a % of total share capital of the company) 4.65% 4.65% 4.33% 4.65% 4.33%
Quarter Ended Year Ended
b) Non-encumbered
- Number of shares 25,04,99,023 25,04,99,023 25,31,15,690 25,04,99,023 25,31,15,690
- Percentage of shares (as a % of total shareholding of promoter and promoter group) 87.67% 87.67% 88.59% 87.67% 88.59%
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838
- Percentage of shares (as a % of total share capital of the company) 33.10% 33.11% 33.66% 33.10% 33.66%
* DSCR = Profit before interest and tax / (Gross interest expense + Principal repayment in next six months)
** ISCR = Profit before interest and tax / Gross Interest expense
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838
1
2
3
4
5
6
7
8 Consolidated Segment Results
(Rs. in Crores)
Particulars March December March March March
31, 2012 31, 2011 31, 2011 31, 2012 31, 2011
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
Agency 119.16 128.64 88.24 375.13 446.62
Capital Based 337.25 311.60 280.59 1,231.18 975.27
Unallocated 22.59 13.55 4.46 64.38 7.01
Total income 479.00 453.79 373.29 1,670.69 1,428.90
Agency 15.81 11.73 28.97 33.62 147.69
Capital Based 73.33 54.48 69.42 244.05 371.69
Unallocated -30.25 -19.73 -34.16 -78.97 -169.36
Profit / (Loss) before tax 58.89 46.48 64.23 198.70 350.02
Agency 561.52 536.44 783.18 561.52 783.18
Capital Based 1,695.27 1,687.94 1,640.01 1,695.27 1,640.01
Unallocated 379.24 412.20 16.77 379.24 16.77
Total capital employed 2,636.03 2,636.58 2,439.96 2,636.03 2,439.96
The consolidated and standalone financial results of Edelweiss Financial Services Limited ('EFSL' or 'the Company') for the quarter and year ended 31 March 2012 have been reviewed and
recommended by the Audit Committee and approved by the Board of Directors at its meeting held on 16 May 2012.
Notes:
3 Capital employed [Segment assets - Segment liabilities]
The Company conducts its operations along with its subsidiaries and associates. The consolidated financial statements are prepared in accordance with the principles and procedures for the
preparation and presentation of consolidated accounts as set out in the Accounting Standards (AS 21 and AS 23) prescribed by Companies (Accounting Standards) Rules, 2006.
CRISIL has assigned the rating of 'CRISIL A1+' (pronounced 'CRISIL A one Plus') to the Short Term Debt Programmes of EFSL for Rs.4,850 crores and the rating of 'CRISIL AA-/stable'
(pronounced 'CRISIL double A minus rating with Stable Outlook) to the long term debt programme of EFSL for Rs.22 crores. ICRA has assigned the rating '[ICRA]AA-' (pronounced 'ICRA double A
minus with Stable Outlook') to the Long Term Debt Programme of EFSL for Rs.450 crores, the rating 'PP-MLD [ICRA] AA-' (pronounced 'PP-MLD-ICRA double A minus with Stable Outlook') to the
Long Term Equity Linked Debenture Programme of EFSL for Rs.25 crores and the rating 'LAA- pn' (pronounced 'L double A Minus Principal Not Protected with Stable Outlook') to the Long Term
Equity Linked Debenture Programme of EFSL for Rs.80 crores. The ratings as mentioned for these Programmes / Issues continue to remain in force.
From 1 April 2011, the Company by virtue of its holding company activities has adopted the practice of charging its actual borrowing cost on the loans extended to its group companies.
Consequently, in the standalone financial results, interest income amounting to Rs. 107.09 crores for the current quarter ended 31 March 2012 and Rs. 400.28 crores for the year then ended has
been netted against interest and finance charges.
The Company has ceased to charge brand usage fees to its subsidiaries from 1 April 2011. Had the Company continued to charge these fees, Income from Operations in the standalone financial
results would have been higher by Rs. 10.95 crores for the current quarter ended 31 March 2012 and Rs. 43.80 crores for the year then ended.
During the quarter, the Company has granted 300,000 options under Employee Stock Option Scheme; 153,000 stock options have been exercised and allotted during the quarter. 92,408,000 stock
options are outstanding as at the end of the quarter.
The Board of Directors has recommended final dividend of Re. 0.30 per share (on face value of Re. 1) for the financial year 2011-12.The payment of final dividend is subject to the approval of the
shareholders at the ensuing Annual General Meeting of the Company.
Quarter Ended Year Ended
1 Segment revenue [Total income]
2 Segment results [Profit / (Loss) before tax]
Total capital employed 2,636.03 2,636.58 2,439.96 2,636.03 2,439.96
9 Standalone Segment Results
(Rs. in Crores)
Particulars March December March March March
31, 2012 31, 2011 31, 2011 31, 2012 31, 2011
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
Agency 11.52 14.45 23.15 44.26 132.01
Holding Company activities 41.53 31.59 88.37 163.03 307.54
Others 0.00 0.00 0.00 0.00 0.00
Total income 53.05 46.04 111.52 207.29 439.55
Agency 3.00 8.59 15.09 17.83 105.86
Holding Company activities 16.63 5.47 -1.27 70.11 -32.03
Others -3.99 -2.76 -4.44 -11.96 -11.46
Profit / (Loss) before tax 15.64 11.30 9.38 75.98 62.37
Agency 9.77 4.19 11.25 9.77 11.25
Holding Company activities 1,339.69 1,349.06 1,295.00 1,339.69 1,295.00
Others 2.35 27.18 16.76 2.35 16.76
Total capital employed 1,351.81 1,380.43 1,323.01 1,351.81 1,323.01
The Company has made its consolidated segment reporting to meaningfully represent its business lines. Agency includes broking, advisory, product distribution and other fee based businesses; Capital
includes income from treasury operations, investment income and wholesale financing. Segment data for previous financial year/period has been reclassified to conform to current financial year/period
presentation.
Quarter Ended Year Ended
1 Segment revenue [Total income]
2 Segment results [Profit / (Loss) before tax]
3 Capital employed [Segment assets - Segment liabilities]
Agency includes investment banking; Holding Company activities comprise of development, managerial and financial support to the businesses of subsidiaries/associates; Others include unallocated
items.
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838
10 Consolidated statement of assets and liabilities as at 31 March 2012
(Rs. in Crores)
March March
31, 2012 31, 2011
(Audited) (Audited)
A EQUITY AND LIABILITIES
1 Shareholders’ funds
(a) Share capital 75.68 75.20
(b) Reserves and surplus 2,559.17 2,364.68
Sub-total - Shareholders' funds 2,634.85 2,439.88
2 Share application money pending allotment 1.18 0.08
3 Minority interest 238.78 115.50
4 Non-current liabilities
(a) Long-term borrowings 1,077.46 461.69
(b) Other long-term liabilities 11.58 8.17
(c) Long-term provisions 34.42 29.01
Sub-total - Non-current liabilities 1,123.46 498.87
5 Current liabilities
(a) Short-term borrowings 9,047.21 7,223.45
(b) Trade payables 783.32 4,078.22
(c) Other current liabilities 634.14 684.88
(d) Short-term provisions 82.81 85.07
Sub-total - Current liabilities 10,547.48 12,071.62
TOTAL - EQUITY AND LIABILITIES 14,545.75 15,125.95
B ASSETS
1 Non-current assets
(a) Fixed assets 523.30 478.05
(b) Goodwill on consolidation 139.47 139.47
(c) Non-current investments 731.61 235.38
(d) Deferred tax assets (net) 25.98 52.75
(e) Long-term loans and advances 1,926.93 837.87
(f) Other non-current assets 134.89 1,273.99
Sub-total - Non-current assets 3,482.18 3,017.51
2 Current assets
(a) Current investments 669.46 153.34
(b) Inventories 3,383.04 1,417.17
(c) Trade receivables 188.86 3,693.31
(d) Cash and cash equivalents 3,274.76 2,410.96
(e) Short-term loans and advances 2,796.38 4,159.42
(f) Other current assets 751.07 274.24
Sub-total - Current assets 11,063.57 12,108.44
As at
Sub-total - Current assets 11,063.57 12,108.44
TOTAL - ASSETS 14,545.75 15,125.95
11 Standalone statement of assets and liabilities as at 31 March 2012
(Rs. in Crores)
March March
31, 2012 31, 2011
(Audited) (Audited)
A EQUITY AND LIABILITIES
1 Shareholders’ funds
(a) Share capital 75.68 75.20
(b) Reserves and surplus 1,274.95 1,247.73
Sub-total - Shareholders' funds 1,350.63 1,322.93
2 Share application money pending allotment 1.18 0.08
3 Non-current liabilities
(a) Long-term borrowings 252.55 53.83
Sub-total - Non-current liabilities 252.55 53.83
4 Current liabilities
(a) Short-term borrowings 2,130.06 3,496.60
(b) Trade payables 9.41 16.41
(c) Other current liabilities 78.90 106.26
(d) Short-term provisions 31.15 36.09
Sub-total - Current liabilities 2,249.52 3,655.36
TOTAL - EQUITY AND LIABILITIES 3,853.88 5,032.20
B ASSETS
1 Non-current assets
(a) Fixed assets 5.69 3.75
(b) Non-current investments 1,440.69 1,196.67
(c) Deferred tax assets (net) 2.00 4.23
(d) Long-term loans and advances 210.06 222.82
(e) Other non-current assets 0.00 0.31
Sub-total - Non-current assets 1,658.44 1,427.78
2 Current assets
(a) Current investments 23.79 2.86
(b) Trade receivables 20.48 17.12
(c) Cash and cash equivalents 1.48 10.97
(d) Short-term loans and advances 2,084.60 3,554.06
(e) Other current assets 65.09 19.41
Sub-total - Current assets 2,195.44 3,604.42
TOTAL - ASSETS 3,853.88 5,032.20
12 Investor Complaints
Quarter
Ended March
31, 2012
Pending at the beginning of the quarter Nil
Received during the quarter 12
As at
Particulars
Received during the quarter 12
Disposed of during the quarter 12
Remaining unresolved at the end of the quarter Nil
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838
13
14
On behalf of the Board of Directors
Rashesh Shah
Chairman
Mumbai, 16 May 2012.
The standalone and consolidated results will be available on the Company’s website - www.edelweissfin.com
The previous year/period figures have been regrouped/reclassified wherever necessary to conform to current financial year/period's presentation.
Consolidated Financial Results for the quarter and year ended 31 March 2013
Part I (` in Crores)
Particulars March December March March March
31, 2013 31, 2012 31, 2012 31, 2013 31, 2012
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
1 Income from operations
(a) Fee and commission income 90.03 82.80 92.27 319.37 321.31
(b) Interest and treasury income 467.98 438.00 365.48 1,772.52 1,309.95
(c) Premium from Life Insurance business 32.33 10.38 7.49 52.48 10.72
(d) Other operating income 5.12 5.50 4.12 24.34 10.98
Total income from operations 595.46 536.68 469.36 2,168.71 1,652.96
2 Expenses
(a) Employee benefits expense 104.65 97.63 78.07 363.91 271.21
(b) Depreciation and amortisation expense 14.31 13.28 15.64 51.43 42.19
(c) Change in life insurance policy liability - actuarial 21.67 6.72 4.05 31.49 5.76
(d) Other expenses 94.29 89.55 87.75 364.54 323.18
Total expenses 234.92 207.18 185.51 811.37 642.34
3 Profit / (Loss) from operations before other income and
finance costs (1-2)360.54 329.50 283.85 1,357.34 1,010.62
4 Other income 1.50 2.54 5.63 6.75 8.19
5Profit / (Loss) from ordinary activities before finance costs
(3+4)362.04 332.04 289.48 1,364.09 1,018.81
6 Finance costs 290.80 264.93 234.60 1,113.33 829.65
7 Profit / (Loss) before tax (5-6) 71.24 67.11 54.88 250.76 189.16
8 Tax expense 28.82 22.16 22.64 88.15 68.09
9 Net Profit / (Loss) after tax (7-8) 42.42 44.95 32.24 162.61 121.07
10 Share of profit / (loss) of associates 2.99 0.74 4.01 8.57 9.54
11 Minority interest (5.67) (0.35) (2.51) (7.29) 2.87
12Net Profit / (Loss) after taxes, minority interest and share of
profit / (loss) of associates (9+10-11)51.08 46.04 38.76 178.47 127.74
13 Paid-up equity share capital (Face Value of ` 1/- Per Share) 76.38 76.17 75.68 76.38 75.68
14 Reserves excluding Revaluation Reserves 2,683.09 2,559.17
ANNEXURE - C
Quarter Ended Year Ended
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838Website : www.edelweissfin.com
15Earnings Per Share (EPS) in Rupees (Face Value of ` 1/- Per
Share)
- Basic (Not annualised) 0.67 0.60 0.51 2.35 1.69
- Diluted (Not annualised) 0.66 0.59 0.50 2.31 1.66
Part II - Select Information for the quarter and year ended 31 March 2013
A PARTICULARS OF SHAREHOLDING
1 Public shareholding
- Number of shares 47,81,26,590 47,60,24,590 47,10,83,590 47,81,26,590 47,10,83,590
- Percentage of shareholding 62.59% 62.49% 62.25% 62.59% 62.25%
2 Promoters & promoter group shareholding
a) Pledged/ Encumbered
- Number of shares 1,42,00,000 3,23,00,000 3,52,16,667 1,42,00,000 3,52,16,667
- Percentage of shares (as a % of total shareholding of promoter
and promoter group)4.97% 11.30% 12.33% 4.97% 12.33%
- Percentage of shares (as a % of total share capital of the
company)1.86% 4.24% 4.65% 1.86% 4.65%
b) Non-encumbered
- Number of shares 27,15,15,690 25,34,15,690 25,04,99,023 27,15,15,690 25,04,99,023
- Percentage of shares (as a % of total shareholding of promoter
and promoter group)95.03% 88.70% 87.67% 95.03% 87.67%
- Percentage of shares (as a % of total share capital of the
company)35.55% 33.27% 33.10% 35.55% 33.10%
B INVESTOR COMPLAINTS Quarter ended March 31, 2013
Pending at the beginning of the quarter Nil
Received during the quarter 9
Disposed off during the quarter 9
Remaining unresolved at the end of the quarter Nil
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838Website : www.edelweissfin.com
Standalone Financial Results for the quarter and year ended 31 March 2013
Part I (` in Crores)
Particulars March December March March March
31, 2013 31, 2012 31, 2012 31, 2013 31, 2012(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
1 Income from operations
(a) Income from operations 45.61 31.53 60.50 147.36 166.32
(b) Other operating income 2.19 1.77 (7.71) 9.45 40.63
Total income from operations 47.80 33.30 52.79 156.81 206.95
2 Expenses
(a) Employee benefits expense 10.55 10.64 7.78 38.89 37.35
(b) Depreciation and amortisation expense 0.59 0.46 0.47 1.95 1.71
(c) Other expenses 6.87 5.80 4.92 29.88 28.91
Total expenses 18.01 16.90 13.17 70.72 67.97
3 Profit / (Loss) from operations before other income and
finance costs (1-2)29.79 16.40 39.62 86.09 138.98
4 Other income 0.05 - 0.26 0.06 0.34
5Profit / (Loss) from ordinary activities before finance costs
(3+4)29.84 16.40 39.88 86.15 139.32
6 Finance costs 12.09 5.51 24.24 39.04 63.34
7 Profit / (Loss) before tax (5-6) 17.75 10.89 15.64 47.11 75.98
8 Tax expense 0.32 - 0.09 0.32 7.34
9 Net Profit / (Loss) after tax (7-8) 17.43 10.89 15.55 46.79 68.64
10 Paid-up equity share capital (Face Value of ` 1/- Per Share) 76.38 76.17 75.68 76.38 75.68
11 Reserves excluding Revaluation Reserves 1,278.12 1,274.95
12Earnings Per Share (EPS) in Rupees (Face Value of ` 1/- Per
Share)
- Basic (Not annualised) 0.23 0.14 0.21 0.62 0.91
- Diluted (Not annualised) 0.22 0.14 0.20 0.60 0.89
13 Debt Service Coverage Ratio (DSCR) * 0.20 0.06
14 Interest Service Coverage Ratio (ISCR) ** 2.42 2.27
* DSCR = Profit before interest and tax / (Gross interest expense + Principal repayment in next six months)
Quarter Ended Year Ended
* DSCR = Profit before interest and tax / (Gross interest expense + Principal repayment in next six months)
** ISCR = Profit before interest and tax / Gross Interest expense
Part II - Select Information for the quarter and year ended 31 March 2013
A PARTICULARS OF SHAREHOLDING
1 Public shareholding
- Number of shares 47,81,26,590 47,60,24,590 47,10,83,590 47,81,26,590 47,10,83,590
- Percentage of shareholding 62.59% 62.49% 62.25% 62.59% 62.25%
2 Promoters & promoter group shareholding
a) Pledged/ Encumbered
- Number of shares 1,42,00,000 3,23,00,000 3,52,16,667 1,42,00,000 3,52,16,667
- Percentage of shares (as a % of total shareholding of promoter
and promoter group)4.97% 11.30% 12.33% 4.97% 12.33%
- Percentage of shares (as a % of total share capital of the
company)1.86% 4.24% 4.65% 1.86% 4.65%
b) Non-encumbered
- Number of shares 27,15,15,690 25,34,15,690 25,04,99,023 27,15,15,690 25,04,99,023
- Percentage of shares (as a % of total shareholding of promoter
and promoter group)95.03% 88.70% 87.67% 95.03% 87.67%
- Percentage of shares (as a % of total share capital of the
company)35.55% 33.27% 33.10% 35.55% 33.10%
B INVESTOR COMPLAINTS Quarter ended March 31, 2013
Pending at the beginning of the quarter Nil
Received during the quarter 9
Disposed off during the quarter 9
Remaining unresolved at the end of the quarter Nil
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838Website : www.edelweissfin.com
1
2
3
4
5
6
7 Consolidated Segment Results
(` in Crores)
Particulars March December March March March
31, 2013 31, 2012 31, 2012 31, 2013 31, 2012
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
Agency 128.25 118.39 119.16 494.13 375.13
Capital Based 428.97 394.21 337.25 1,590.55 1,231.18
Life Insurance 41.91 26.70 20.39 98.17 53.21
Unallocated 0.82 0.66 2.20 1.18 11.17
Total income 599.95 539.96 479.00 2,184.03 1,670.69
Quarter Ended Year Ended
Notes:
The consolidated and standalone financial results of Edelweiss Financial Services Limited ('EFSL' or 'the Company') for the quarter and year ended 31 March
2013 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at its meeting held on 15 May 2013.
The Company conducts its operations along with its subsidiaries and associates. The consolidated financial statements are prepared in accordance with the
principles and procedures for the preparation and presentation of consolidated accounts as set out in the Accounting Standards (AS 21 and AS 23) prescribed
by Companies (Accounting Standards) Rules, 2006.
CRISIL has assigned the rating of 'CRISIL A1+' (pronounced 'CRISIL A one Plus') to the Short Term Debt Programmes of EFSL for ` 4,850 Crores and the
rating of 'CRISIL AA-/stable' (pronounced 'CRISIL double A minus rating with Stable Outlook') to the long term debt programme of EFSL for ` 22 Crores. ICRA
has assigned the rating '[ICRA]AA-stable' (pronounced 'ICRA double A minus with Stable Outlook') to the Long Term Debt Programme of EFSL for ` 450
Crores, the rating 'PP-MLD [ICRA] AA-/Stable' (pronounced 'PP-MLD-ICRA double A minus with Stable Outlook') to the Long Term Equity Linked Debenture
Programme of EFSL for ` 25 Crores and the rating '[ICRA]AA - pn stable' (pronounced 'ICRA double A Minus Principal Not Protected with Stable Outlook') to
the Long Term Equity Linked Debenture Programme of EFSL for ` 80 Crores. The ratings as mentioned for these Programmes / Issues continue to remain in
force.
The Company as a part of its holding company activities, continues to adopt the practice of charging its actual borrowing cost on the loans extended to its
group companies. Consequently, in the standalone financial results, interest income amounting to ` 98.78 crores for the current quarter ended 31 March 2013
and ` 426.82 crores for the year ended has been netted against finance costs.
During the quarter, the Company has granted 3,42,000 options under Employee Stock Option Scheme; 21,02,000 stock options have been allotted on exercise
of employee stock options during the quarter.
During the year, the Company had declared and paid interim dividend of ` 0.55 per share (on a face value of ` 1 per equity share). Further, the Board of
Directors has recommended final dividend of ` 0.10 per share (on face value of ` 1 per equity share) for the financial year 2012-13.The payment of final
dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.
1 Segment revenue [Total income]
Total income 599.95 539.96 479.00 2,184.03 1,670.69
Agency 15.65 2.00 15.81 42.29 33.62
Capital Based 97.58 86.00 73.33 307.25 244.05
Life Insurance (25.92) (14.54) (9.42) (64.72) (18.07)
Unallocated - - - - -
Profit / (Loss) before tax 87.31 73.46 79.72 284.82 259.60
Less:
(a) Interest - - - - -
(b) Unallocated net expenditure (13.08) (5.61) (20.83) (25.49) (60.90)
Total Profit before tax 74.23 67.85 58.89 259.33 198.70
Agency 453.56 477.85 500.56 453.56 500.56
Capital Based 1,575.39 1,465.56 1,511.23 1,575.39 1,511.23
Life Insurance 455.83 482.43 520.83 455.83 520.83
Unallocated 276.94 339.12 103.41 276.94 103.41
Total capital employed 2,761.72 2,764.96 2,636.03 2,761.72 2,636.03
2 Segment results [Profit / (Loss) before tax]
3 Capital employed [Segment assets - Segment liabilities]
The Company has made its consolidated segment reporting to meaningfully represent its business lines. Agency includes broking, advisory, product distribution
and other fee based businesses; Capital includes income from treasury operations, investment income and wholesale financing; Life insurance represents life
insurance business.Segment data for previous financial year/period has been reclassified to conform to current financial year/period presentation.
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838Website : www.edelweissfin.com
8 Standalone Segment Results
(` in Crores)
Particulars March December March March March
31, 2013 31, 2012 31, 2012 31, 2013 31, 2012
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
Agency 6.94 17.28 11.52 31.11 44.26
Holding Company activities 40.91 16.02 41.53 125.76 163.03
Unallocated - - - - -
Total income 47.85 33.30 53.05 156.87 207.29
Agency 0.47 10.94 3.00 7.51 17.83
Holding Company activities (after interest expenses) 19.47 2.54 16.63 51.88 70.11
Unallocated - - - - -
Profit / (Loss) before tax 19.94 13.48 19.63 59.39 87.94
Less:
(a) Interest - - - - -
(b) Unallocated net expenditure (2.19) (2.59) (3.99) (12.28) (11.96)
Total Profit before tax 17.75 10.89 15.64 47.11 75.98
Agency 5.88 7.34 9.77 5.88 9.77
Holding Company activities 1,284.98 1,321.84 1,339.69 1,284.98 1,339.69
Unallocated 65.89 55.25 2.35 65.89 2.35
Total capital employed 1,356.75 1,384.43 1,351.81 1,356.75 1,351.81
9 Consolidated statement of assets and liabilities as at 31 March 2013
(` in Crores)
March March
31, 2013 31, 2012(Audited) (Audited)
A EQUITY AND LIABILITIES
Quarter Ended Year Ended
1 Segment revenue [Total income]
2 Segment results [Profit / (Loss) before tax and interest]
3 Capital employed [Segment assets - Segment liabilities]
Agency includes investment banking; Holding Company activities comprise of development, managerial and financial support to the businesses of
subsidiaries/associates and investment activities.
As at
A EQUITY AND LIABILITIES
1 Shareholders’ funds
(a) Share capital 76.38 75.68
(b) Reserves and surplus 2,683.09 2,559.17
Sub-total - Shareholders' funds 2,759.47 2,634.85
2 Share application money pending allotment 2.25 1.18
3 Minority interest 233.31 238.78
4 Non-current liabilities
(a) Long-term borrowings 1,980.08 1,077.46
(b) Other long-term liabilities 13.54 11.58
(c) Long-term provisions 72.22 34.42
Sub-total - Non-current liabilities 2,065.84 1,123.46
5 Current liabilities
(a) Short-term borrowings 8,973.74 9,047.21
(b) Trade payables 1,023.03 783.32
(c) Other current liabilities 1,418.62 634.14
(d) Short-term provisions 57.02 82.81
Sub-total - Current liabilities 11,472.41 10,547.48
TOTAL - EQUITY AND LIABILITIES 16,533.28 14,545.75
B ASSETS
1 Non-current assets
(a) Fixed assets 498.21 523.30
(b) Goodwill on consolidation 140.40 139.47
(c) Non-current investments 808.66 731.61
(d) Deferred tax assets (net) 35.96 25.98
(e) Long-term loans and advances 2,716.35 1,926.93
(f) Other non-current assets 305.18 134.89
Sub-total - Non-current assets 4,504.76 3,482.18
2 Current assets
(a) Current investments 402.60 669.46
(b) Inventories 3,152.06 3,383.04
(c) Trade receivables 158.32 188.86
(d) Cash and cash equivalents 3,708.98 3,274.76
(e) Short-term loans and advances 4,120.36 2,796.38
(f) Other current assets 486.20 751.07
Sub-total - Current assets 12,028.52 11,063.57
TOTAL - ASSETS 16,533.28 14,545.75
Edelweiss Financial Services LimitedRegistered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-42273838Website : www.edelweissfin.com
10 Standalone statement of assets and liabilities as at 31 March 2013
(` in Crores)
March March
31, 2013 31, 2012(Audited) (Audited)
A EQUITY AND LIABILITIES
1 Shareholders’ funds
(a) Share capital 76.38 75.68
(b) Reserves and surplus 1,278.12 1,274.95
Sub-total - Shareholders' funds 1,354.50 1,350.63
2 Share application money pending allotment 2.25 1.18
4 Non-current liabilities
(a) Long-term borrowings 230.41 252.55
(d) Long-term provisions 1.35 -
Sub-total - Non-current liabilities 231.76 252.55
5 Current liabilities
(a) Short-term borrowings 672.85 2,130.06
(b) Trade payables 6.58 9.41
(c) Other current liabilities 39.85 78.90
(d) Short-term provisions 15.02 31.15
Sub-total - Current liabilities 734.30 2,249.52
TOTAL - EQUITY AND LIABILITIES 2,322.81 3,853.88
B ASSETS
1 Non-current assets
(a) Fixed assets 6.48 5.69
(b) Non-current investments 1,429.80 1,440.69
(c) Deferred tax assets (net) 2.75 2.00
(d) Long-term loans and advances 53.67 210.06
Sub-total - Non-current assets 1,492.70 1,658.44
2 Current assets
(a) Current investments - 23.79
(b) Trade receivables 12.29 20.48
(c) Cash and cash equivalents 19.39 1.48
(d) Short-term loans and advances 770.00 2,084.60
(e) Other current assets 28.43 65.09
Sub-total - Current assets 830.11 2,195.44
TOTAL - ASSETS 2,322.81 3,853.88
As at
TOTAL - ASSETS 2,322.81 3,853.88
11
12
On behalf of the Board of Directors
Rashesh Shah
Chairman
Mumbai, 15 May 2013.
The previous year/period figures have been regrouped/reclassified wherever necessary to conform to current financial year/period's presentation.
The standalone and consolidated results will be available on the Company’s website - www.edelweissfin.com
Consolidated Financial Results for the quarter and year ended 31 March 2014
Part I (` in Crores)
Particulars March December March March March
31, 2014 31, 2013 31, 2013 31, 2014 31, 2013
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
1 Income from operations
(a) Fee and commission 99.69 87.38 90.03 355.63 319.37
(b) Fund based activities 543.43 523.25 467.98 2,050.06 1,772.52
(c) Premium from life insurance business 48.48 24.78 32.33 106.21 52.48
(d) Other operating income 5.25 5.97 5.12 21.90 24.34
Total income from operations 696.85 641.38 595.46 2,533.80 2,168.71
2 Expenses
(a) Employee benefits expense 129.82 122.16 104.65 458.02 363.91
(b) Depreciation and amortisation expense 14.73 11.38 14.31 52.41 51.43
(c) Change in life insurance policy liability - actuarial 29.83 13.12 21.67 60.87 31.49
(d) Other expenses 120.53 109.88 94.29 422.06 364.54
Total expenses 294.91 256.54 234.92 993.36 811.37
3 Profit / (Loss) from operations before other income and
finance costs (1-2)401.94 384.84 360.54 1,540.44 1,357.34
4 Other income 0.96 3.63 1.50 9.32 6.75
5Profit / (Loss) from ordinary activities before finance
costs (3+4)402.90 388.47 362.04 1,549.76 1,364.09
6 Finance costs 298.70 309.10 290.80 1,210.67 1,113.33
7 Profit / (Loss) before tax (5-6) 104.20 79.37 71.24 339.09 250.76
8 Tax expense 46.05 29.92 28.82 134.61 88.15
9 Net Profit / (Loss) after tax (7-8) 58.15 49.45 42.42 204.48 162.61
10 Share of profit / (Loss) of associates 1.30 4.45 2.99 12.41 8.57
11 Minority interest (1.24) (3.90) (5.67) (3.35) (7.29)
12Net Profit / (Loss) after taxes, minority interest and share
of profit / (loss) of associates (9+10-11)60.69 57.80 51.08 220.24 178.47
13Paid-up equity share capital (Face Value of ` 1/- Per
Share)76.90 76.90 76.38 76.90 76.38
ANNEXURE - C
Quarter Ended Year Ended
Edelweiss Financial Services LimitedCorporate Identity Number: L99999MH1995PLC094641Registered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-40863610Website : www.edelweissfin.com
13Share)
76.90 76.90 76.38 76.90 76.38
14 Reserves excluding Revaluation Reserves 2,656.91 2,383.44
15Earnings Per Share (EPS) in Rupees (Face Value of ` 1/-
Per Share)
- Basic (See note 7) 0.79 0.75 0.67 2.86 2.35
- Diluted (See note 7) 0.78 0.74 0.66 2.85 2.31
Part II - Select Information for the quarter and year ended 31 March 2014
A PARTICULARS OF SHAREHOLDING
1 Public shareholding
- Number of shares 48,33,29,640 48,33,29,640 47,81,26,590 48,33,29,640 47,81,26,590
- Percentage of shareholding 62.85% 62.85% 62.59% 62.85% 62.59%
2 Promoters & promoter group shareholding
a) Pledged/ Encumbered
- Number of shares 1,61,83,000 1,61,83,000 1,42,00,000 1,61,83,000 1,42,00,000
- Percentage of shares (as a % of total shareholding of
promoter and promoter group)5.66% 5.66% 4.97% 5.66% 4.97%
- Percentage of shares (as a % of total share capital of the
Company)2.10% 2.10% 1.86% 2.10% 1.86%
b) Non-encumbered
- Number of shares 26,95,32,690 26,95,32,690 27,15,15,690 26,95,32,690 27,15,15,690
- Percentage of shares (as a % of total shareholding of
promoter and promoter group)94.34% 94.34% 95.03% 94.34% 95.03%
- Percentage of shares (as a % of total share capital of the
Company)35.05% 35.05% 35.55% 35.05% 35.55%
B INVESTOR COMPLAINTS Quarter ended March 31, 2014
Pending at the beginning of the quarter Nil
Received during the quarter 5
Disposed off during the quarter 5
Remaining unresolved at the end of the quarter Nil
Edelweiss Financial Services LimitedCorporate Identity Number: L99999MH1995PLC094641Registered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-40863610Website : www.edelweissfin.com
Standalone Financial Results for the quarter and year ended 31 March 2014
Part I (` in Crores)
Particulars March December March March March
31, 2014 31, 2013 31, 2013 31, 2014 31, 2013(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
1 Income from operations
(a) Income from operations 86.26 47.38 45.61 207.38 147.36
(b) Other operating income 11.52 0.10 2.19 7.53 9.45
Total income from operations 97.78 47.48 47.80 214.91 156.81
2 Expenses
(a) Employee benefits expense 8.22 6.26 10.55 31.12 38.89
(b) Depreciation and amortisation expense 0.94 0.64 0.59 2.71 1.95
(c) Other expenses 12.21 3.70 6.87 39.79 29.88
Total expenses 21.37 10.60 18.01 73.62 70.72
3 Profit / (Loss) from operations before other income and
finance costs (1-2)76.41 36.88 29.79 141.29 86.09
4 Other income 0.02 0.12 0.05 0.17 0.06
5Profit / (Loss) from ordinary activities before finance
costs (3+4)76.43 37.00 29.84 141.46 86.15
6 Finance costs (net) 25.97 20.49 12.09 61.18 39.04
7 Profit / (Loss) before tax (5-6) 50.46 16.51 17.75 80.28 47.11
8 Tax expense 3.51 2.76 0.32 6.98 0.32
9 Net Profit / (Loss) after tax (7-8) 46.95 13.75 17.43 73.30 46.79
10Paid-up equity share capital (Face Value of ` 1/- Per
Share)76.90 76.90 76.38 76.90 76.38
11 Reserves excluding Revaluation Reserves 1,145.34 1,118.86
12Earnings Per Share (EPS) in Rupees (Face Value of ` 1/-
Per Share)
- Basic (See note 7) 0.61 0.18 0.23 0.95 0.62
- Diluted (See note 7) 0.61 0.18 0.22 0.95 0.60
13 Debt Service Coverage Ratio (DSCR) * 0.23 0.20
14 Interest Service Coverage Ratio (ISCR) ** 2.43 2.42
Quarter Ended Year Ended
14 Interest Service Coverage Ratio (ISCR) ** 2.43 2.42
* DSCR = Profit before interest and tax / (Gross interest expense + Principal repayment in next six months)
** ISCR = Profit before interest and tax / Gross Interest expense
Part II - Select Information for the quarter and year ended 31 March 2014
A PARTICULARS OF SHAREHOLDING
1 Public shareholding
- Number of shares 48,33,29,640 48,33,29,640 47,81,26,590 48,33,29,640 47,81,26,590
- Percentage of shareholding 62.85% 62.85% 62.59% 62.85% 62.59%
2 Promoters & promoter group shareholding
a) Pledged/ Encumbered
- Number of shares 1,61,83,000 1,61,83,000 1,42,00,000 1,61,83,000 1,42,00,000
- Percentage of shares (as a % of total shareholding of
promoter and promoter group)5.66% 5.66% 4.97% 5.66% 4.97%
- Percentage of shares (as a % of total share capital of the
Company)2.10% 2.10% 1.86% 2.10% 1.86%
b) Non-encumbered
- Number of shares 26,95,32,690 26,95,32,690 27,15,15,690 26,95,32,690 27,15,15,690
- Percentage of shares (as a % of total shareholding of
promoter and promoter group)94.34% 94.34% 95.03% 94.34% 95.03%
- Percentage of shares (as a % of total share capital of the
Company)35.05% 35.05% 35.55% 35.05% 35.55%
B INVESTOR COMPLAINTS Quarter ended March 31, 2014
Pending at the beginning of the quarter Nil
Received during the quarter 5
Disposed off during the quarter 5
Remaining unresolved at the end of the quarter Nil
Edelweiss Financial Services LimitedCorporate Identity Number: L99999MH1995PLC094641Registered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-40863610Website : www.edelweissfin.com
1
2
3
4
5
6
7
8 Consolidated Segment Results
(` in Crores)
Particulars March December March March March
31, 2014 31, 2013 31, 2013 31, 2014 31, 2013
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
During the year, the Company had declared and paid interim dividend of ` 0.55 per share (on a face value of ` 1 per equity share). Further, the
Board of Directors has recommended final dividend of ` 0.15 per share (on face value of ` 1 per equity share) for the financial year 2013-14.The
payment of final dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.
Notes:The consolidated and standalone financial results of Edelweiss Financial Services Limited ('EFSL' or 'the Company') for the quarter and year ended
31 March 2014 have been reviewed and recommended by the Audit Committee at its meeting held on 16 May 2014 and approved by the Board of
Directors at its meeting held on 17 May 2014.
The Company conducts its operations along with its subsidiaries and associates. The consolidated financial statements are prepared in accordance
with the principles and procedures for the preparation and presentation of consolidated accounts as set out in the Accounting Standards (AS 21 and
AS 23) prescribed by Companies (Accounting Standards) Rules, 2006.
CARE has assigned the rating of 'CARE AA' (pronounced 'CARE double A') to the Long Term Debt Programme of EFSL for ` 150 crores. CRISIL
has assigned the rating of 'CRISIL A1+' (pronounced 'CRISIL A one Plus') to the Short Term Debt Programme of EFSL for ` 4,850 crores. The
ratings as mentioned for these Programmes / Issues continue to remain in force.
The Board at its Meeting held on April 23, 2014 had, in accordance with the provisions of Section 68 of the Companies Act, 2013 and the Securities
and Exchange Board of India (Buy-back of Securities) Regulations, 1998 (“Buy-back Regulations”) approved the Buy-back of Equity Shares of the
Company at a maximum price of ` 45 per equity share by utilizing an amount not exceeding ` 135 crores, through the Open Market route through
Stock Exchanges.
The Company has provided loans to its employees’ welfare trusts aggregating to ` 160.81 crores as at March 31, 2014. The trusts have utilised this
fund in the acquisition of shares of the Company with the objective of utilising the same to allocate shares to employees on exercise of employee
stock options and for other employee welfare activities. The Company has, in accordance with the Expert Advisory Committee of the Institute of
Chartered Accountants of India's published opinion in March 2014, presented the investment in shares of the Company underlying the loan as a
deduction from Share Capital and Securities Premium Account. Previous year's figures have also been regrouped to conform to the above
presentation.
Earnings per share for the quarters ended 31 March 2014, 31 December 2013 and 31 March 2013, have been calculated for three months and not
annualised.
Quarter Ended Year Ended
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
Agency 109.15 143.82 128.25 507.47 494.13
Capital Based 528.16 471.88 428.97 1,884.76 1,590.55
Life Insurance 60.83 44.07 41.91 159.84 98.17
Unallocated 0.97 (10.31) 0.82 3.45 1.18
Total income 699.11 649.46 599.95 2,555.53 2,184.03
Agency 24.78 17.52 15.65 78.81 42.29
Capital Based 99.42 87.53 97.58 364.43 307.25
Life Insurance (14.00) (13.60) -25.92 -67.82 -64.72
Unallocated - - - - -
Profit / (Loss) before tax 110.20 91.45 87.31 375.42 284.82
Less:
(a) Interest - - - - -
(b) Unallocated net expenditure (4.70) (7.63) (13.08) (23.92) (25.49)
Total Profit before tax 105.50 83.82 74.23 351.50 259.33
Agency 703.83 584.63 453.56 703.83 453.56
Capital Based 1,206.07 1,087.00 1,271.25 1,206.07 1,271.25
Life Insurance 629.44 653.74 455.83 629.44 455.83
Unallocated 190.00 421.14 276.94 190.00 276.94
Total capital employed 2,729.34 2,746.51 2,457.58 2,729.34 2,457.58
1 Segment revenue [Total income]
2 Segment results [Profit / (Loss) before tax and interest]
3 Capital employed [Segment assets - Segment liabilities]
The Company has made its consolidated segment reporting to meaningfully represent its business lines. Agency includes broking, advisory, product
distribution and other fee based businesses; Capital includes income from treasury operations, investment income and wholesale financing; Life
insurance represents life insurance business.Segment data for previous financial year/period has been reclassified to conform to current financial
year/period presentation.
Edelweiss Financial Services LimitedCorporate Identity Number: L99999MH1995PLC094641Registered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-40863610Website : www.edelweissfin.com
9 Standalone Segment Results
(` in Crores)
Particulars March December March March March
31, 2014 31, 2013 31, 2013 31, 2014 31, 2013
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
Agency (Unaudited) 21.82 6.94 (Audited) 31.11
Holding Company activities 0.00 25.78 40.91 0.00 125.76
Unallocated - - - - -
Total income 0.00 47.60 47.85 0.00 156.87
Agency 97.80 15.75 0.47 215.08 7.51
Holding Company activities (after interest expenses) 0.00 2.07 19.47 0.00 51.88
Unallocated - - - - -
Profit / (Loss) before tax 97.80 17.82 19.94 215.08 59.39
Less:
(a) Interest - - - - -
(b) Unallocated net expenditure 0.00 (1.31) (2.19) 0.00 (12.28)
Total Profit before tax 97.80 16.51 17.75 215.08 47.11
Agency 50.46 22.28 5.88 80.28 5.88
Holding Company activities 0.00 0.00 0.00 0.00 0.00
Unallocated 4.21 58.52 65.89 4.21 65.89
Total capital employed 54.67 80.80 71.77 84.49 71.77
10 Consolidated statement of assets and liabilities as at 31 March 2014
(` in Crores)
March March September
31, 2014 31, 2013 30, 2012(Audited) (Audited) (Unaudited)
3 Capital employed [Segment assets - Segment liabilities]
Quarter Ended Year Ended
1 Segment revenue [Total income]
2 Segment results [Profit / (Loss) before tax and interest]
Agency includes investment banking; Holding Company activities comprise of development, managerial and financial support to the businesses of
subsidiaries/associates and investment activities.
As at
A EQUITY AND LIABILITIES
1 Shareholders’ funds
(a) Share capital 72.42 71.89 75.92
(b) Reserves and surplus 2,656.91 2,383.44 2,634.43
Sub-total - Shareholders' funds 2,729.33 2,455.33 2,710.35
2 Share application money pending allotment 0.01 2.25 1.98
3 Minority interest 365.70 233.31 239.21
4 Non-current liabilities
(a) Long-term borrowings 3,550.35 1,980.08 1,492.75
(b) Other long-term liabilities 26.93 13.54 17.93
(c) Long-term provisions 140.19 72.22 40.75
Sub-total - Non-current liabilities 3,717.47 2,065.84 1,551.43
5 Current liabilities
(a) Short-term borrowings 8,725.68 8,973.74 8,443.24
(b) Trade payables 872.29 1,023.03 583.25
(c) Other current liabilities 1,482.71 1,418.62 926.18
(d) Short-term provisions 136.37 57.02 27.14
Sub-total - Current liabilities 11,217.05 11,472.41 9,979.81
TOTAL - EQUITY AND LIABILITIES 18,029.56 16,229.14 14,482.78
B ASSETS
1 Non-current assets
(a) Fixed assets 534.39 498.21 504.18
(b) Non-current investments 872.41 808.66 708.84
(c) Deferred tax assets (net) 51.76 35.96 26.40
(d) Long-term loans and advances 3,957.07 2,716.35 2,302.87
(e) Other non-current assets 355.79 305.18 187.81
Sub-total - Non-current assets 5,771.42 4,364.36 3,870.03
2 Current assets
(a) Current investments 1,253.90 402.60 684.24
(b) Inventories 3,791.01 3,152.06 3,028.30
(c) Trade receivables 420.30 158.32 184.89
(d) Cash and cash equivalents 1,963.71 3,708.98 3,001.92
(e) Short-term loans and advances 4,315.11 3,956.62 3,148.21
(f) Other current assets 514.11 486.20 565.19
Sub-total - Current assets 12,258.14 11,864.78 10,612.75
TOTAL - ASSETS 18,029.56 16,229.14 14,482.78
Edelweiss Financial Services LimitedCorporate Identity Number: L99999MH1995PLC094641Registered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-40863610Website : www.edelweissfin.com
11 Standalone statement of assets and liabilities as at 31 March 2014
(` in Crores)
March March September
31, 2014 31, 2013 30, 2012(Audited) (Audited) (Unaudited)
A EQUITY AND LIABILITIES
1 Shareholders’ funds
(a) Share capital - - 75.92
(b) Reserves and surplus - - 1,295.33
Sub-total - Shareholders' funds - - 1,371.25
2 Share application money pending allotment 1,145.34 1,118.86 1.98
3 Non-current liabilities
(a) Long-term borrowings 0.01 2.25 230.48
(b) Long-term provisions - - -
Sub-total - Non-current liabilities 0.01 2.25 230.48
4 Current liabilities
(a) Short-term borrowings 306.02 231.76 2,152.05
(b) Trade payables - - 9.71
(c) Other current liabilities 543.18 672.85 105.19
(d) Short-term provisions 6.54 6.58 7.57
Sub-total - Current liabilities 855.74 911.19 2,274.52
TOTAL - EQUITY AND LIABILITIES 2,001.09 2,032.30 3,878.23
B ASSETS
1 Non-current assets
(a) Fixed assets - - 5.30
(b) Non-current investments - - 1,453.52
(c) Deferred tax assets (net) 5.95 6.48 2.00
(d) Long-term loans and advances 1,363.95 1,429.80 221.04
(e) Other non-current assets 7.53 2.75 -
Sub-total - Non-current assets 1,377.43 1,439.03 1,681.86
2 Current assets
(a) Trade receivables 1,519.61 1,492.70 6.15
(b) Cash and cash equivalents - - 20.43
(c) Short-term loans and advances 21.37 12.29 2,136.24
(d) Other current assets 14.63 19.39 30.80
Sub-total - Current assets 1,555.61 1,524.38 2,196.37
As at
TOTAL - ASSETS 2,933.04 2,963.41 3,878.23
12
13
On behalf of the Board of Directors
Rashesh Shah
Chairman
Mumbai, 17 May 2014.
The previous year/period figures have been regrouped/reclassified wherever necessary to conform to current period's presentation.
The standalone and consolidated results will be available on the Company’s website - www.edelweissfin.com
Standalone Financial Results for the quarter and year ended 31 March 2014
Part I (` in Crores)
Particulars March December March March March
31, 2014 31, 2013 31, 2013 31, 2014 31, 2013
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
1 Income from operations
(a) Income from operations 86.26 47.38 45.61 207.38 147.36
(b) Other operating income 11.52 0.10 2.19 7.53 9.45
Total income from operations 97.78 47.48 47.80 214.91 156.81
2 Expenses
(a) Employee benefits expense 8.22 6.26 10.55 31.12 38.89
(b) Depreciation and amortisation expense 0.94 0.64 0.59 2.71 1.95
(c) Other expenses 12.21 3.70 6.87 39.79 29.88
Total expenses 21.37 10.60 18.01 73.62 70.72
3 Profit / (Loss) from operations before other income and finance costs (1-2) 76.41 36.88 29.79 141.29 86.09
4 Other income 0.02 0.12 0.05 0.17 0.06
5 Profit / (Loss) from ordinary activities before finance costs (3+4) 76.43 37.00 29.84 141.46 86.15
6 Finance costs (net) 25.97 20.49 12.09 61.18 39.04
7 Profit / (Loss) before tax (5-6) 50.46 16.51 17.75 80.28 47.11
8 Tax expense 3.51 2.76 0.32 6.98 0.32
9 Net Profit / (Loss) after tax (7-8) 46.95 13.75 17.43 73.30 46.79
10 Paid-up equity share capital (Face Value of Re. 1/- Per Share) 76.90 76.90 76.38 76.90 76.38
11 Reserves excluding Revaluation Reserves 1,145.34 1,118.86
12 Earnings Per Share (EPS) in Rupees (Face Value of Re. 1/- Per Share)
- Basic (See note 6) 0.61 0.18 0.23 0.95 0.62
- Diluted (See note 6) 0.61 0.18 0.22 0.95 0.60
13 Debt Service Coverage Ratio (DSCR) * 0.23 0.20
14 Interest Service Coverage Ratio (ISCR) ** 2.43 2.42
* DSCR = Profit before interest and tax / (Gross interest expense + Principal repayment in next six months)
Part II - Select Information for the quarter and year ended 31 March 2014
A PARTICULARS OF SHAREHOLDING
1 Public shareholding
- Number of shares 48,33,29,640 48,33,29,640 47,81,26,590 48,33,29,640 47,81,26,590
Annexure D
Quarter Ended Year Ended
** ISCR = Profit before interest and tax / Gross Interest expense
Edelweiss Financial Services LimitedCorporate Identity Number: L99999MH1995PLC094641Registered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-40863610 Website: www.edelweissfin.com
- Number of shares 48,33,29,640 48,33,29,640 47,81,26,590 48,33,29,640 47,81,26,590
- Percentage of shareholding 62.85% 62.85% 62.59% 62.85% 62.59%
2 Promoters & promoter group shareholding
a) Pledged/ Encumbered
- Number of shares 1,61,83,000 1,61,83,000 1,42,00,000 1,61,83,000 1,42,00,000
- Percentage of shares (as a % of total shareholding of promoter and promoter group) 5.66% 5.66% 4.97% 5.66% 4.97%
- Percentage of shares (as a % of total share capital of the company) 2.10% 2.10% 1.86% 2.10% 1.86%
b) Non-encumbered
- Number of shares 26,95,32,690 26,95,32,690 27,15,15,690 26,95,32,690 27,15,15,690
- Percentage of shares (as a % of total shareholding of promoter and promoter group) 94.34% 94.34% 95.03% 94.34% 95.03%
- Percentage of shares (as a % of total share capital of the company) 35.05% 35.05% 35.55% 35.05% 35.55%
B INVESTOR COMPLAINTS Quarter ended March 31, 2014
Pending at the beginning of the quarter Nil
Received during the quarter 5
Disposed off during the quarter 5
Remaining unresolved at the end of the quarter Nil
1
2
3
4
5
6
During the year, the Company had declared and paid interim dividend of ` 0.55 per share (on a face value of ` 1 per equity share). Further, the Board of Directors has recommended final
dividend of ` 0.15 per share (on face value of ` 1 per equity share) for the financial year 2013-14.The payment of final dividend is subject to approval of the shareholders at the ensuing
Annual General Meeting of the Company.
Notes:The standalone financial results of Edelweiss Financial Services Limited ('EFSL' or 'the Company') for the quarter and year ended 31 March 2014 have been reviewed and recommended
by the Audit Committee at its meeting held on 16 May 2014 and approved by the Board of Directors at its meeting held on 17 May 2014.
CARE has assigned the rating of 'CARE AA' (pronounced 'CARE double A') to the Long Term Debt Programme of EFSL for ` 150 crores. CRISIL has assigned the rating of 'CRISIL A1+'
(pronounced 'CRISIL A one Plus') to the Short Term Debt Programme of EFSL for ` 4,850 crores. The ratings as mentioned for these Programmes / Issues continue to remain in force.
The Board at its Meeting held on April 23, 2014 had, in accordance with the provisions of Section 68 of the Companies Act, 2013 and the Securities and Exchange Board of India (Buy-
back of Securities) Regulations, 1998 (“Buy-back Regulations”) approved the Buy-back of Equity Shares of the Company at a maximum price of ` 45 per equity share by utilizing an amount
not exceeding ` 135 crores, through the Open Market route through Stock Exchanges.
The Company has provided loans to its employees’ welfare trusts aggregating to ` 160.81 crores as at March 31, 2014. The trusts have utilised this fund in the acquisition of shares of the
Company with the objective of utilising the same to allocate shares to employees on exercise of employee stock options and for other employee welfare activities. The Company has, in
accordance with the Expert Advisory Committee of the Institute of Chartered Accountants of India's published opinion in March 2014, presented the investment in shares of the Company
underlying the loan as a deduction from Share Capital and Securities Premium Account. Previous year's figures have also been regrouped to conform to the above presentation.
Earnings per share for the quarters ended 31 March 2014, 31 December 2013 and 31 March 2013, have been calculated for three months and not annualised.
Edelweiss Financial Services LimitedCorporate Identity Number: L99999MH1995PLC094641Registered Office: Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400 098Tel: +91-22-40094400 Fax: +91-22-40863610 Website: www.edelweissfin.com
7 Standalone Segment Results
(` in Crores)
Particulars March December March March March
31, 2014 31, 2013 31, 2013 31, 2014 31, 2013
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
1 Segment revenue [Total income]
Agency 0.00 21.82 6.94 0.00 31.11
Holding Company activities 0.00 25.78 40.91 0.00 125.76
Unallocated - - - - -
Total income 0.00 47.60 47.85 0.00 156.87
2 Segment results [Profit / (Loss) before tax and interest]
Agency 0.00 15.75 0.47 0.00 7.51
Holding Company activities (after interest expenses) 0.00 2.07 19.47 0.00 51.88
Unallocated - - - - -
Profit / (Loss) before tax 0.00 17.82 19.94 0.00 59.39
Less:
(a) Interest - - - - -
(b) Unallocated net expenditure 0.00 (1.31) (2.19) 0.00 (12.28)
Total Profit before tax 0.00 16.51 17.75 0.00 47.11
3 Capital employed [Segment assets - Segment liabilities]
Agency 0.00 22.28 5.88 0.00 5.88
Holding Company activities 0.01 1,142.10 1,121.23 0.01 1,121.23
Unallocated -11.54 58.52 65.89 -11.54 65.89
Total capital employed -11.53 1,222.90 1,193.00 -11.53 1,193.00
8 Standalone Statement of Assets and Liabilities as at 31 March 2014
(` in Crores)
March March
31, 2014 31, 2013(Audited) (Audited)
A EQUITY AND LIABILITIES
1 Shareholders’ funds
(a) Share capital 72.42 71.89
(b) Reserves and surplus 1,145.34 1,118.86
Sub-total - Shareholders' funds 1,217.76 1,190.75
2 Share application money pending allotment 0.00 2.25
Quarter Ended Year Ended
Agency includes investment banking; Holding Company activities comprise of development, managerial and financial support to the businesses of subsidiaries/associates and investment
activities.
As at
2 Share application money pending allotment 0.00 2.25
3 Non-current liabilities
(a) Long-term borrowings 0.00 230.41
(b) Long-term provisions 0.00 1.35
Sub-total - Non-current liabilities 0.00 231.76
4 Current liabilities
(a) Short-term borrowings 0.00 672.85
(b) Trade payables 0.00 6.58
(c) Other current liabilities -0.01 39.85
(d) Short-term provisions 24.93 15.02
Sub-total - Current liabilities 24.92 734.30
TOTAL - EQUITY AND LIABILITIES 1,242.68 2,159.06
B ASSETS
1 Non- current assets
(a) Fixed assets 0.00 6.48
(b) Non-current investments 0.00 1,429.80
(c) Deferred tax assets (net) 0.00 2.75
(d) Long-term loans and advances 141.77 53.67
(e) Other non-current assets 0.00 -
Sub-total - Non-current assets 141.77 1,492.70
2 Current assets
(a) Trade receivables 0.00 12.29
(b) Cash and cash equivalents 0.00 19.39
(c) Short-term loans and advances 0.00 606.25
(d) Other current assets 0.00 28.43
Sub-total - Current assets 0.00 666.36
TOTAL ASSETS 141.77 2,159.06
9
10
On behalf of the Board of Directors
Rashesh Shah
Chairman
Mumbai, 17 May 2014
The standalone results will be available on the Company’s website - www.edelweissfin.com
The previous year/period figures have been regrouped/reclassified wherever necessary to conform to current financial year/period's presentation.
Edelweiss Financial Services Limited (formerly known as Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2012
(Currency : Indian rupees in millions)
(I) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates
Individual exercising
significant control/Key
Managerial Personnel
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Capital account transactions
Investments in Equity shares
Edelweiss Finance & Investments Limited -
Edelweiss Broking Limited -
Edelweiss Tokio Life Insurance Company Limited 2,801.71
Others -
Investments in Preference shares
Edelweiss Securities Limited 260.00
Edelweiss Broking Limited 250.00
Disinvestment in Equity shares
Edelweiss Capital USA , LLC -
Others -
Sale/Redemption of Preference shares
Edelweiss Securities Limited 260.00
Edelweiss Broking Limited 250.00
Edelweiss Finance & Investments Limited -
Edelweiss Investment Advisors Limited 70.00
Edel Land Limited 80.00
Non convertible debentures redeemed
ECap Equities Limited 464.00
Short term non convertible debentures subscribed by
Edelweiss Trading & Holdings Limited -
Short term non convertible debentures redeemed
Edelweiss Trading & Holdings Limited -
Others -
Redemption of fully convertible debentures
Dahlia Financial Services Private Limited -
Comercial papers subscribed
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 26,400.00
Annexure E
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates
Individual exercising
significant control/Key
Managerial Personnel
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Comercial papers redeemed
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 88,070.42
Long term loan taken
ECap Equities Limited 1,800.00
ECL Finance Limited 1,200.00
Long term loan repaid
ECL Finance Limited 700.00
Sale of investments
Comfort Projects Limited 100.45
Current account transactions
Loans repaid by
Edelweiss Securities Limited 2,07,460.52
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 5,53,246.66
ECL Finance Limited 93,776.81
Others 1,30,928.39 24.20 1.70
Loans given to
Edelweiss Securities Limited 2,15,300.06
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 5,35,067.84
ECL Finance Limited 94,275.03
Others 1,34,615.66 1.70
Secondary market transactions with broker
Margin placed with broker
Edelweiss Securities Limited 535.34
Margin withdrawn from broker
Edelweiss Securities Limited 674.97
Brokerage paid
Edelweiss Securities Limited 9.00
Reimbursement recovered
Edelweiss Finance & Investments Limited 107.59
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 138.48
ECL Finance Limited 212.63
Edelcap Securities Limited 162.94
Others 287.48 0.00 11.94 0.02
Dividend paid
Rashesh Shah 89.36
Venkat Ramaswamy 34.47
Edelweiss Employees Welfare Trust 24.44
Oak Holdings Private Limited -
Spire Investment Advisors LLC 25.19
Others 36.03
Remuneration
Rashesh Shah 15.67
Venkat Ramaswamy 12.41
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates
Individual exercising
significant control/Key
Managerial Personnel
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Himanshu Kaji 8.87
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates
Individual exercising
significant control/Key
Managerial Personnel
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Dividend income
Edelweiss Securities Limited -
Edelcap Securities Limited -
Edelweiss Finance & Investments Limited 610.65
Advisory fee received
ECL Finance Limited -
Others - -
Rating fee received
ECL Finance Limited 464.05
Edelweiss Securities Limited 101.21
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 30.62
Others 11.51
Branding fee received
Edelweiss Securities Limited -
Edelweiss Trading & Holdings Limited -
ECL Finance Limited -
Others -
Interest income
Edelweiss Securities Limited 371.24
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 2,136.11
Edelweiss Finance & Investments Limited 291.99
Edelcap Securities Limited 108.22
EC International Limited 2,138.29
Others 746.24 0.00
Interest expense on loan
ECap Equities Limited 9.93
ECL Finance Limited 5.84
Interest income on margin
Edelweiss Securities Limited 0.93
Commission and brokerage
Edelweiss Securities Limited 4.31
Interest expense on long term non-convertible debentures
ECap Equities Limited 216.64
Edelcap Securities Limited -
Others - -
Interest expense on fully convertible debentures
Dahlia Financial Services Private Limited -
Interest expense on short term non convertible debentures
Edelweiss Trading & Holdings Limited -
Others -
Rent Expense
Comfort Projects Limited 27.30
Cost reimbursements paid
Edelweiss Securities Limited -
Comfort Projects Limited 2.11
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates
Individual exercising
significant control/Key
Managerial Personnel
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates
Individual exercising
significant control/Key
Managerial Personnel
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Cost reimbursements recovered
Edelweiss Securities Limited 31.50
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 14.30
ECL Finance Limited 17.40
Others 4.62 16.93
Sale of PMS business
Edelweiss Global Wealth Management Limited 1.50
Balances with related parties
Investments in Equity shares
Edelweiss Finance & Investments Limited 2,297.27
ECL Finance Limited 5,190.56
Edelweiss Tokio Life Insurance Company Limited 3,081.91
Others 3,554.95 0.50
Dividend receivable
Edelweiss Finance & Investments Limited 292.05
Investments in Preference shares
Edelweiss Investment Advisors Limited -
Edel Land Limited -
Loans given
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 3,869.27
Edelweiss Finance & Investments Limited 3,045.72
Edel Commodities Limited 2,546.35
EC International Limited 2,138.29
Others 8,748.01 0.00
Interest receivable
EC International Limited 214.66
Others 0.49
Loans taken
ECap Equities Limited 1,800.00
ECL Finance Limited 500.00
Interest payable
ECap Equities Limited 9.93
ECL Finance Limited 5.84
Long term non convertible debentures outstanding
ECap Equities Limited 43.50
Edelcap Securities Limited -
Others - -
Interest payable on non convertible debentures outstanding
ECap Equities Limited -
Edelcap Securities Limited -
Others - -
Trade receivables
ECL Finance Limited 63.40
Edelweiss Securities Limited 19.79
Others 11.90
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates
Individual exercising
significant control/Key
Managerial Personnel
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Margin placed with broker
Edelweiss Securities Limited 139.63
Trade payables
Edelweiss Securities Limited 4.31
Comfort Projects Limited 29.49
Others 0.36
Advances
Edelweiss Finance & Investments Limited -
Edelweiss Employees Welfare Trust 1,380.45
Others 187.34 27.72
Bonus payable
Rashesh shah 7.50
Venkat Ramaswamy 4.50
Himanshu Kaji 5.50
Corporate guarantee given
ECL Finance Limited 8,500.00
Edelweiss Securities Limited 10,950.00
Edelweiss Trading & Holdings Limited -
Comfort Projects Limited 16,500.00
Others 1,800.00
-
Amounts in brackets represent previous year numbers.
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Capital account transactions
Investments in Equity shares
Edelweiss Capital (Singapore) Pte Limited 1,30,33,980
Disinvestment in Equity shares
Edelweiss Asset Management Limited 22,93,50,000
Short Term Non convertible debentures redeemed
ECap Equities Limited 7,81,00,000
Comercial papers subscribed
Edelweiss Commodities Services Limited 1,11,63,55,79,000
Comercial papers redeemed
Edelweiss Commodities Services Limited 44,20,00,00,000
Structured Loan Taken
Edelweiss Commodities Services Limited 2,00,00,00,000
Structured Loan repaid to
Edelweiss Commodities Services Limited 2,00,00,00,000
Structured Loan Given
ECL Finance Limited 2,00,00,00,000
Structured Loan reapid by
ECL Finance Limited 2,00,00,00,000
Current account transactions
Loans repaid by
Edelweiss Securities Limited 2,14,00,96,87,300
Edelweiss Insurance Brokers Limited 7,50,13,563
Edelweiss Commodities Services Limited 4,72,60,93,82,500
Edelweiss Finance & Investments Limited 47,56,01,76,704
ECL Finance Limited 1,66,57,45,50,150
ECap Equities Limited 18,61,82,64,082
Edelcap Securities Limited 44,74,88,68,409
Edelweiss Global Wealth Management Limited 82,13,00,000
Edelweiss Alternative Asset Advisors Limited 15,19,83,907
Edelweiss Broking Limited 4,95,51,59,950
Edel Commodities Limited 11,30,35,28,692
EC Commodity Limited 6,75,81,94,331
Edelweiss Employee Welfare Trust 3,21,02,240
Edel Land Limited 4,45,00,000
EC International Limited 2,35,81,16,796
Edelweiss Capital (Singapore) Pte Limited 1,14,01,170
Edelweiss Fund Advisors Private Limited 3,005
Edelweiss Web Services Limited 13,91,30,603
Edelweiss Housing Finance Limited 11,02,64,53,150
Edelweiss Custodial Services Limited -
Annexure E
30
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edelweiss Investment Adviser Limited 8,32,55,72,660
Edelweiss Financial Advisors Limited 3,16,67,83,712
Edelweiss Comtrade Limited 64,47,54,584
EFSL Comtrade Limited 27,07,26,609
EFSL Commodities Limited 1,32,89,19,817
Edel Commodities Trading Limited 84,34,00,000
Edel Finance Company Limited -
Edelweiss Precious Metals Private Limited 5,00,000
Loans given to
Edelweiss Securities Limited 2,14,84,26,96,000
Edelweiss Insurance Brokers Limited 6,54,00,000
Edelweiss Commodities Services Limited 4,69,46,55,37,900
Edelweiss Finance & Investments Limited 44,86,25,60,000
31
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
ECL Finance Limited 1,66,34,69,79,116
ECap Equities Limited 16,82,52,20,000
Edelcap Securities Limited 43,88,33,21,009
Edelweiss Global Wealth Management Limited 64,38,00,000
Edelweiss Broking Limited 4,74,20,30,085
Edelweiss Alternative Asset Advisors Limited 8,51,00,000
Edel Commodities Limited 8,94,94,50,000
EC Commodity Limited 5,31,96,25,000
Edel Land Limited 4,83,00,000
EC International Limited 27,68,32,500
Edelweiss Capital (Singapore) Pte Limited 5,26,06,000
Edelweiss Fund Advisors Private Limited -
Edelweiss Web Services Limited 9,34,00,000
Edelweiss Housing Finance Limited 10,56,23,21,152
Edelweiss Custodial Services Limited 22,38,00,000
Edelweiss Investment Adviser Limited 7,31,33,30,000
Edelweiss Financial Advisors Limited 3,26,80,78,991
Edelweiss Comtrade Limited 67,02,46,535
EFSL Comtrade Limited 28,13,59,906
EFSL Commodities Limited 1,36,33,19,817
Edel Commodities Trading Limited 91,45,34,958
Edel Finance Company Limited 54,99,20,000
Edelweiss Precious Metals Private Limited 5,00,000
Secondary market transactions with broker
Margin placed with broker
Edelweiss Securities Limited 2,15,44,52,807
Margin withdrawn from broker
Edelweiss Securities Limited 2,24,35,97,956
Reimbursement recovered
Edelweiss Finance & Investments Limited 13,67,43,385
Edelweiss Commodities Services Limited 16,37,27,395
ECap Equities Limited 7,11,36,064
ECL Finance Limited 21,84,91,939
Edelweiss Web Services Limited 68,05,213
Edelcap Securities Limited 2,90,39,768
Edelweiss Securities Limited 6,82,088
Edelweiss Asset Management Limited 1,13,06,857
Edelweiss Asset Reconstruction Company Limited 1,57,54,515
Edelweiss Global Wealth Management Limited 1,77,78,573 32
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edelweiss Insurance Brokers Limited 2,75,48,396
Edelweiss Broking Limited 8,27,69,742
Edelweiss Fund Advisors Private Limited 17,20,926
Edelweiss Trustee Services Limited 1,20,857
Allium Financial Services Private Limited 61,888 52,19,655
Arum Investements Private Limited 1,75,64,800
Edelweiss Trusteeship Company Limited 1,78,413
Edelweiss Investment Adviser Limited 77,63,376
Edelweiss Housing Finance Limited 2,33,39,929
33
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
EC Commodity Limited 1,15,73,262
Edel Land Limited 11,08,353
Edel Investments Limited 4,61,093
Edelweiss Tokio Life Insurance Company Limited 9,38,81,997
Edel Commodities Limited 1,31,76,130
Oak Holdings Private Limited 15,734
Edelweiss Alternative Asset Advisors Limited 3,97,63,821
Edelweiss Employees Welfare Trust 2,240
Dahlia Financial Services Private Limited 4,17,975
Magnolia Financial Services Private Limited 7,84,325
Edelweiss Custodial Services Limited 1,37,73,295
Edelweiss Capital Markets Limited 17,73,522
Edel Commodities Trading Limited 62,70,183
EFSL Commodities Ltd 15,98,266
EFSL Comtrade Limited 17,90,785
Edelweiss Precious Metals Private Limited 10,10,348
Edelweiss Comtrade Ltd 51,73,879
Edelweiss Financial Advisors Limited 4,60,893
Edel Finance Company Limited 1,476
Reimbursemenst paid
Edelweiss Commodities Services Limited 6,91,298
Edelgive Foundation 5,000
Dividend paid
Rashesh Shah 11,68,76,471
Venkat Ramaswamy 4,50,72,576
Aparna T. C. 1,02,00,000
Kaavya Venkat 1,02,00,000
Vidya Shah 2,49,57,020
A V Ramaswamy 42,500
Shilpa Mody 8,51,020
Sejal Premal Parekh 8,50,000
Edelweiss Employees Welfare Trust 3,19,55,980
Meena Subramanian 5,50,000
Spire Investment Advisors LLC 3,29,37,500
Sneha Sripad Desai 13,750
Remuneration
Rashesh Shah 2,12,69,908
Venkat Ramaswamy 1,47,53,495
Himanshu Kaji 2,02,90,686
34
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Dividend income
Edelweiss Commodities Services Limited 11,01,68,862
Edelweiss Finance and Investments Limited 45,00,25,890
35
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Advisory Fee/ Commission received
ECL Finance Limited 4,23,40,000
Aster Commodities DMCC 3,84,89,730
EC Global 1,63,16,790
Rating Fee received
ECL Finance Limited 31,53,00,000
Edelweiss Securities Limited 8,81,25,000
Edelweiss Commodities Services Limited 11,51,25,000
Edelweiss Housing Finance Limited 4,68,75,000
Interest income on short term loan
Edelweiss Securities Limited 32,65,62,749
Edelweiss Insurance Brokers Limited 6,01,500
Edelweiss Commodities Services Limited 1,84,45,68,347
Edelweiss Finance & Investments Limited 30,90,83,503
ECL Finance Limited 34,90,79,216
Edelweiss Global Wealth Management Limited 74,04,333
ECap Equities Limited 18,25,73,649
Edelcap Securities Limited 13,65,59,203
Edelweiss Broking Limited 4,38,94,456
Edel Commodities Limited 16,77,58,637
EC Commodity Limited 9,48,27,640
Edelweiss Alternative Asset Advisors Limited 31,70,633
Edel Land Limited 65,37,675
Edelweiss Web Services Limited 69,85,489
EC International Limited 19,49,90,235
Edelweiss Fund Advisors Private Limited 80
Edelweiss Housing Finance Limited 13,29,63,827
Edelweiss Custodial Services Limited 3,41,955
Edelweiss Investment Adviser Limited 17,78,95,304
Edelweiss Financial Advisors Limited 1,02,80,646
Edelweiss Comtrade Limited 19,35,021
Edelweiss Capital (Singapore) Pte. Ltd. 35,03,085
EFSL Comtrade Limited 14,93,447
EFSL Commodities Ltd 86,19,748
Edel Commodities Trading Limited 1,39,15,093
Edel Finance Company Limited 3,87,89,056
Edelweiss Precious Metals Pvt Ltd 2,249
Interest expense on loan
Ecap Equities Limited 21,60,00,065
ECL Finance Limited 6,00,00,160 36
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Interest income on margin
Edelweiss Securities Limited 38,74,336
Commission and brokerage
Edelweiss Securities Limited -
Interest Expense on Short term non convertible debentures
ECap Equities Limited 2,99,92,817
Interest Expense on Structured Loan
Edelweiss Commodities Services Limited 20,00,00,000
Interest Income on Structured Loan
ECL Finance Limited 20,00,00,000
Reimbursements paid for common expenses
Rent
Edelweiss Commodities Services Limited 1,92,34,424
Electricity
Edelweiss Commodities Services Limited 10,46,263
Reimbursements recovered for common expenses
Shared staff cost
Edelweiss Securities Limited 2,15,00,000
Edelweiss Commodities Services Limited 1,08,00,000
Edelweiss Fund Advisors Private Limited 10,00,000
ECL Finance Limited 1,08,00,000
Edelweiss Investment Adviser Limited 16,00,000
Edelweiss Asset Reconstruction Company limited 78,18,750
Arum Investment Private Limited 1,08,15,000
Edelweiss Alternative Assets Advisors Limited 1,89,00,000
Advertisement
Edelweiss Securities Limited 20,75,030
Edelweiss Financial Advisors Limited 46,99,570
Edelweiss Housing Finance Limited 46,99,570
Edelweiss Asset Management Limited 26,24,540
Edelweiss Broking Limited 46,99,570
Legal & Professional fees
Edelweiss Commodities Services Limited 18,50,000
Other Operating Expenses
Edelweiss Tokio Life Insurance Company Limited 6,47,023
Edelweiss Broking Limited 1,86,118
ECL Finance Limited 7,008
Edelweiss Commodities Services Limited 1,04,607
Edelweiss Alternative Asset Advisors Limited 2,54,771
Edelweiss Securities Limited 4,10,747
Edelweiss Asset Reconstruction Company Limited 3,000
Edelgive Foundation 4,00,000 37
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edelweiss Precious Metals Private Limited 5,420
Balances with related parties
Investments in Equity shares
Edelweiss Securities Limited 9,20,00,000
Edelweiss Insurance Brokers Limited 49,97,600
Edelweiss Commodities Services Limited 1,10,80,00,000
Edelweiss Finance & Investments Limited 2,29,72,68,230
Edelweiss Fund Advisors Private Limited 5,00,000
Edelweiss Trustee Services Limited 5,00,000
ECL Finance Limited 5,19,05,64,732
ECap Equities Limited 1,00,00,000
Edelcap Securities Limited 1,30,00,000
Edelweiss Asset Management Limited 75,00,00,000
Edelweiss Broking Limited 30,58,00,000
Edelweiss Global Wealth Management Limited 4,56,25,000
Edelweiss Trusteeship Company Limited 10,00,000
EC Commodity Limited 21,10,00,000
Edel Commodities Limited 5,00,000
Edelweiss Alternative Asset Advisors Limited 11,08,00,000
Edelweiss Housing Finance Limited 10,55,00,000
Edelgive Foundation 1,00,000
Edelweiss Investment Adviser Limited 5,00,000
Edelweiss Capital (Singapore) Pte. Limited 1,34,63,329
Edel Land Limited 5,00,000
Edelweiss Custodial Services Limited 51,75,00,000
Edel Investments Limited 2,10,00,000
Edelweiss Tokio Life Insurance Company Limited 3,08,19,13,428
EC International Limited 62,00,250
Loans given
Edelweiss Securities Limited 1,35,04,38,127
Edelweiss Insurance Brokers Limited (0)
Edelweiss Commodities Services Limited 72,54,30,362
Edelweiss Finance & Investments Limited 34,81,01,223
ECL Finance Limited 41,14,62,756
ECap Equities Limited 20,85,79,685
Edelcap Securities Limited 13,08,02,293
Edelweiss Fund Advisors Private Limited -
Edelweiss Global Wealth Management Limited 2,55,17,690
38
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edelweiss Alternative Asset Advisors Limited (0)
Edelweiss Broking Limited 13,77,71,312
Edel Commodities Limited 19,22,66,537
EC Commodity Limited 3,72,66,264
Edel Land Limited 8,83,65,489
EC International Limited 18,59,12,844
Edelweiss Capital (Singapore) Pte Limited 4,98,40,198
Edelweiss Web Services Limited 2,26,50,000
Edelweiss Housing Finance Limited 17,26,12,608
Edelweiss Investment Adviser Limited 64,00,55,579
Edelweiss Financial Advisors Limited 13,72,92,252
Edelweiss Comtrade Limited 2,64,25,000
EFSL Comtrade Limited 1,06,33,297
EFSL Commodities Ltd 3,44,00,000
Edel Commodities Trading Limited 7,11,34,958
Edel Finance Company Limited 54,99,20,000
Edelweiss Custodial Services Limited 22,38,00,000
Edelweiss Employee Welfare Trust 1,34,83,50,000
Loans taken
Ecap Equities Limited 1,80,00,00,000
ECL Finance Limited 50,00,00,000
Margin placed with broker
Edelweiss Securities Limited 5,04,84,640
Trade Payables
Edelweiss Securities Limited 4,86,216
ECL Finance Limited 3,389
Edelweiss Financial Advisors Limited 3,55,265
Edelweiss Broking Limited 8,886
Edelweiss Insurance Brokers Limited 3,437
Edelweiss Global Wealth Management Limited 22,05,662
Edelweiss Housing Finance Limited 1,20,010
Trade Receivables
Aster Commodities DMCC 3,84,89,730
EC Global 1,63,16,790
Advances
Edelweiss Tokio Life Insurance Company Limited 16,68,515
Edelweiss Securities Limited 2,50,97,031
Edelweiss Commodities Services Limited 1,09,27,600
Edelweiss Fund Advisors Private Limited 10,11,240 39
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
ECL Finance Limited 1,09,21,392
Edelweiss Asset Management Limited 28,89,954
Edelweiss Alternative Asset Advisors Limited 1,92,33,105
Arum Investments Private Limited 1,09,36,561
Edelweiss Financial Advisors Limited 51,74,827
Edelweiss Broking Limited 51,74,827
Edelweiss Investment Adviser Limited 16,17,984
Edelweiss Global Wealth Management Limited 10
Edelweiss Asset Reconstruction Company Limited 79,06,633
Edelweiss Housing Finance Limited 51,74,827
Dividend Receivable
Edelweiss Commodities Services Limited 11,01,68,862
Edelweiss Finance & Investments Limited 9,95,63,250
Accrued interest on loans given
Edelweiss Securities Limited 10,99,566
Edelweiss Insurance Brokers Limited 505
Edelweiss Commodities Services Limited 9,26,945
Edelweiss Finance & Investments Limited 29,12,114
ECL Finance Limited 5,57,996
Edelweiss Global Wealth Management Limited 21,476
ECap Equities Limited 12,05,368
Edelcap Securities Limited 3,97,940
Edelweiss Broking Limited 2,99,463
Edel Commodities Limited 8,57,691
EC Commodity Limited 4,44,370
Edelweiss Alternative Asset Advisors Limited 4,156
Edel Land Limited 1,27,848
Edelweiss Web Services Limited 17,605
EC International Limited 1,04,83,213
Edelweiss Housing Finance Limited 1,97,069
Edelweiss Custodial Services Limited 3,07,759
Edelweiss Investment Adviser Limited 11,18,647
Edelweiss Financial Advisors Limited 1,86,791
Edelweiss Comtrade Limited 32,842
Edelweiss Capital (Singapore) Pte. Ltd. 17,79,911
EFSL Comtrade Limited 7,848
EFSL Commodities Ltd 1,64,401
Edel Commodities Trading Limited 1,47,081 40
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2013
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edel Finance Company Limited 7,90,221
Bonus payable
Rashesh shah 1,33,00,000
Venkat Ramaswamy 68,00,000
Himanshu Kaji 1,28,00,000
Corporate Guarantee
ECL Finance Limited 26,93,84,00,000
Edelweiss Securities Limited 10,03,60,00,000
Edelweiss Commodities Services Limited 7,21,50,00,000
Edelweiss Housing Finance Ltd 4,98,70,12,732
Aster Commodities DMCC 2,28,43,50,600
EC Global 54,38,93,000
Amounts in brackets represent previous year numbers.
41
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Capital account transactions
Investments in Equity shares
Edelweiss Tokio Life Insurance Company Limited 56,03,00,000
Edel Land Limited 8,50,000
Investments in Preference shares
EC International Limited 9,18,48,98,420
ECap Equities Limited 1,80,00,000
Redemption of Preference shares
EC International Limited 9,18,48,98,420
Purchase of Equity shares from
Rashesh Shah 9,76,000
Venkat Ramaswamy 9,76,000
Sale of Equity shares to
Edelweiss Commodities Services Limited 51,96,52,751
Edelweiss Securities Limited 51,75,00,000
ECap Equities Limited 1,30,00,000
Comercial papers subscribed by
Edelweiss Commodities Services Limited 1,09,75,27,27,500
Comercial papers redeemed to
Edelweiss Commodities Services Limited 28,75,00,00,000
Edelweiss Global Wealth Management Limited 25,30,00,000
Comercial papers redeemed by
Edelweiss Commodities Services Limited 1,00,00,00,000
Current account transactions
Loans repaid by
Edelweiss Securities Limited 3,38,24,44,51,200
Edelweiss Insurance Brokers Limited 98,22,388
Edelweiss Commodities Services Limited 6,10,93,99,69,976
Edelweiss Finance & Investments Limited 1,16,96,38,86,910
ECL Finance Limited 2,91,20,87,65,900
ECap Equities Limited 1,08,32,96,30,301
Edelcap Securities Limited -
Edelweiss Global Wealth Management Limited 97,12,95,749
Edelweiss Alternative Asset Advisors Limited 2,85,08,489
Edelweiss Broking Limited 12,35,95,13,734
Edel Commodities Limited 11,29,52,15,371
EC Commodity Limited 3,04,22,90,141
Edelweiss Employee Welfare Trust 2,45,00,000
Edel Land Limited 42,00,000
Annexure E
30
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
EC International Limited 3,28,29,01,947
Edelweiss Capital (Singapore) Pte. Limited -
Edelweiss Fund Advisors Private Limited 2,85,556
Edelweiss Web Services Limited 23,35,19,710
Edelweiss Housing Finance Limited 6,04,16,64,300
Edelweiss Custodial Services Limited 35,18,00,000
Edelweiss Investment Adviser Limited 2,52,20,73,459
Edelweiss Financial Advisors Limited 2,52,74,08,000
Edelweiss Comtrade Limited 1,22,90,04,827
EFSL Comtrade Limited 5,21,61,87,072
EFSL Commodities Limited 1,89,04,21,393
Edel Commodities Trading Limited 87,77,55,741
Edel Finance Company Limited 80,11,00,000
Edelweiss Precious Metals Private Limited -
Edelweiss Asset Management Limited 1,34,60,435
Edelweiss Retail Finance Limited 1,33,19,95,509
Loans given to
Edelweiss Securities Limited 3,36,97,28,19,114
Edelweiss Insurance Brokers Limited 98,22,388
Edelweiss Commodities Services Limited 6,10,72,28,38,913
Edelweiss Finance & Investments Limited 1,17,04,32,14,773
31
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
ECL Finance Limited 2,90,80,71,42,543
ECap Equities Limited 1,07,99,35,10,176
Edelcap Securities Limited -
Edelweiss Global Wealth Management Limited 94,57,78,059
Edelweiss Broking Limited 12,22,17,42,472
Edelweiss Alternative Asset Advisors Limited 2,85,08,489
Edel Commodities Limited 11,12,26,53,905
EC Commodity Limited 3,00,50,23,877
Edel Land Limited 1,12,00,000
EC International Limited 6,01,49,02,693
Edelweiss Capital (Singapore) Pte. Limited 26,46,83,072
Edelweiss Fund Advisors Private Limited 2,85,556
Edelweiss Web Services Limited 22,84,43,523
Edelweiss Housing Finance Limited 5,87,52,33,643
Edelweiss Custodial Services Limited 13,96,98,885
Edelweiss Investment Adviser Limited 2,04,91,96,719
Edelweiss Financial Advisors Limited 2,48,44,42,310
Edelweiss Comtrade Limited 1,23,99,22,211
EFSL Comtrade Limited 5,20,71,04,775
EFSL Commodities Limited 1,85,91,21,893
Edel Commodities Trading Limited 80,66,20,783
Edel Finance Company Limited 34,58,93,448
Edelweiss Precious Metals Private Limited -
Edelweiss Asset Management Limited 1,34,60,435
Edelweiss Retail Finance Limited 1,58,80,51,184
Long term Loans given to
Edelweiss Commodities Services Limited 70,00,00,000
Edelweiss Retail Finance Limited 15,00,00,000
Long term Loans taken from
ECL Finance Limited 1,51,00,00,000
Edelweiss Comtrade Limited 10,46,00,000
Long term Loans repaid to
ECap Equities Limited 30,00,00,000
ECL Finance Limited 2,01,00,00,000
Secondary market transactions with broker
Margin placed with broker
Edelweiss Securities Limited 1,09,20,84,448
Margin withdrawn from broker
32
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edelweiss Securities Limited 1,13,45,45,209
Reimbursement recovered
Edelweiss Finance & Investments Limited 22,77,63,038
Edelweiss Commodities Services Limited 23,24,60,325
ECap Equities Limited 17,44,97,356
ECL Finance Limited 33,57,69,105
Edelweiss Web Services Limited 97,84,027
Edelcap Securities Limited -
Edelweiss Securities Limited 9,08,640
Edelweiss Asset Management Limited 1,14,60,996
Edelweiss Asset Reconstruction Company Limited 29,64,155
Edelweiss Global Wealth Management Limited 2,02,50,558
Edelweiss Insurance Brokers Limited 2,67,14,262
Edelweiss Broking Limited 10,65,04,541
Edelweiss Fund Advisors Private Limited 1,80,251
Edelweiss Trustee Services Limited 1,36,351
Allium Financial Services Private Limited 92,00,513
Arum Investments Private Limited 3,67,90,178
Edelweiss Trusteeship Company Limited 2,31,943
Edelweiss Investment Adviser Limited 1,12,88,943
Edelweiss Housing Finance Limited 3,73,76,432
33
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
EC Commodity Limited 58,00,420
Edel Land Limited 6,61,080
Edel Investments Limited 4,56,757
Edelweiss Tokio Life Insurance Company Limited 17,49,001
Edel Commodities Limited 81,40,780
Oak Holdings Private Limited 14,650
Edelweiss Alternative Asset Advisors Limited 5,91,66,513
Edelweiss Employees Welfare Trust -
Dahlia Financial Services Private Limited 33,69,604
Magnolia Financial Services Private Limited 39,96,640
Edelweiss Custodial Services Limited 28,72,724
Edelweiss Capital Markets Limited 93,69,103
Edel Commodities Trading Limited 47,40,326
EFSL Commodities Limited 21,92,706
EFSL Comtrade Limited 63,47,955
Edelweiss Precious Metals Private Limited 28,72,049 12,79,818
Edelweiss Comtrade Limited 1,81,86,880
Edelweiss Financial Advisors Limited 5,89,295
Edel Finance Company Limited 2,098
Edelgive Foundation 75,179
Edelweiss Retail Finance Limited 2,08,611
Reimbursements paid
Edelweiss Commodities Services Limited 1,42,758
Edelweiss Alternative Asset Advisors Limited 47,606
Edelweiss Web Services Limited 5,11,58,952
Dividend paid
Rashesh Shah 8,72,96,125
Venkat Ramaswamy 3,44,67,264
Aparna T. C. 78,00,000
Kaavya Venkat 78,00,000
Vidya Shah 1,90,84,780
A V Ramaswamy 32,500
Shilpa Mody 6,50,780
Sejal Premal Parekh 6,50,000
Edelweiss Employees Welfare Trust 2,44,36,926
Meena Subramanian -
Spire Investment Advisors LLC 2,72,67,500
Sneha Sripad Desai 6,66,250
Rujan Panjwani 66,04,897 34
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Shabnam Panjwani 9,750
Remuneration
Rashesh Shah 3,54,70,125
Venkat Ramaswamy 53,40,152
Himanshu Kaji 1,78,26,339
Rujan Panjwani 32,48,932
Dividend income
Edelweiss Commodities Services Limited 31,11,52,596
Edelweiss Finance & Investments Limited 15,13,36,140
Profit on sale of investments
Edelweiss Commodities Services Limited 32,08,47,249
35
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Advisory & Other Fee/ Commission received
ECL Finance Limited 7,68,00,000
Aster Commodities DMCC 7,13,22,837
EC Global Limited 1,56,25,948
Edelweiss International Singapore Pte Limited 1,69,53,072
Edelweiss Tokio Life Insurance Company Limited 5,00,00,000
Rating Fee received
ECL Finance Limited 21,55,00,000
Edelweiss Securities Limited 6,61,50,000
Edelweiss Commodities Services Limited 8,80,50,000
Edelweiss Housing Finance Limited 3,42,00,000
Edelweiss Finance & Investments Limited 75,00,000
ECap Equities Limited 2,30,00,000
Edelcap Securities Limited -
Edelweiss Capital Markets Limited 44,00,000
EFSL Comtrade Limited 17,00,000
Interest income on short term loan
Edelweiss Securities Limited 33,28,85,002
Edelweiss Insurance Brokers Limited 1,84,930
Edelweiss Commodities Services Limited 82,48,07,429
Edelweiss Finance & Investments Limited 15,19,71,365
ECL Finance Limited 36,76,39,329
Edelweiss Global Wealth Management Limited 48,71,720
ECap Equities Limited 30,61,76,966
Edelcap Securities Limited -
Edelweiss Broking Limited 2,39,29,389
Edel Commodities Limited 8,26,90,408
EC Commodity Limited 1,70,42,537
Edelweiss Alternative Asset Advisors Limited 5,62,327
Edel Land Limited 93,69,040
Edelweiss Web Services Limited 62,28,119
EC International Limited 4,69,11,305
Edelweiss Fund Advisors Private Limited 130
Edelweiss Housing Finance Limited 2,62,97,736
Edelweiss Custodial Services Limited 56,61,501
Edelweiss Investment Adviser Limited 3,40,49,449
Edelweiss Financial Advisors Limited 53,87,261
Edelweiss Comtrade Limited 27,63,855
Edelweiss Capital (Singapore) Pte. Limited 21,41,146
36
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
EFSL Comtrade Limited 5,19,44,754
EFSL Commodities Limited 2,25,01,037
Edel Commodities Trading Limited 73,02,631
Edel Finance Company Limited 5,79,71,928
Edelweiss Precious Metals Pvt Ltd -
Edelweiss Asset Management Limited 46,991
Edelweiss Retail Finance Limited 59,54,838
Interest income on long term loan
Edelweiss Commodities Services Limited 6,90,411
Edelweiss Retail Finance Limited 1,47,945
Interest expense on loan
Ecap Equities Limited 21,47,17,875
ECL Finance Limited 9,76,04,512
Edelweiss Comtrade Limited 82,88,967
Interest income on margin
Edelweiss Securities Limited 46,10,384
Clearing charges
Edelweiss Securities Limited 55,000
Commission & Brokerage
Edelweiss Securities Limited 7,32,22,424
Insurance Expenses
Edelweiss Tokio Life Insurance Company Limited 68,587
Processing Fees
Edelweiss Web Services Limited 33,250
Reimbursements paid for common expenses
Rent
Edelweiss Commodities Services Limited 1,89,70,938
Electricity
Edelweiss Commodities Services Limited 14,52,657
Gratuity Provision
ECL Finance Limited 9,08,000
Edel Finance Company Limited 89,000
Edelweiss Alternative Asset Advisors Limited 12,43,000
Edelweiss Broking Limited 1,96,000
Edelweiss Commodities Services Limited 21,000
Edelweiss Finance & Investments Limited 5,63,000
Edelweiss Global Wealth Management Limited 41,000
Edelweiss Investment Adviser Limited 4,28,000
Edelweiss Securities Limited 6,64,000
Edelweiss Web Services Limited 53,000
Reimbursements recovered for common expenses
Shared staff cost
Edelweiss Securities Limited 1,85,00,000
37
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edelweiss Commodities Services Limited 92,00,000
Edelweiss Fund Advisors Private Limited -
ECL Finance Limited 92,00,000
Edelweiss Investment Adviser Limited -
Edelweiss Asset Reconstruction Company limited 6,39,180
Arum Investments Private Limited 45,58,000
Edelweiss Alternative Assets Advisors Limited -
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Edelweiss Securities Limited 61,00,336
Edelweiss Financial Advisors Limited 28,50,000
Edelweiss Housing Finance Limited 14,04,000
Edelweiss Asset Management Limited -
Edelweiss Broking Limited 24,00,000
Legal & Professional fees
ECL Finance Limited 16,00,000
Edelweiss Securities Limited 23,71,222
Edelweiss Finance & Investments Limited 76,20,571
Other operating expenses
Edelweiss Securities Limited 44,914
Balances with related parties
Investments in Equity shares
Edelweiss Securities Limited 9,20,00,000
Edelweiss Insurance Brokers Limited 69,49,600
Edelweiss Commodities Services Limited 1,10,80,00,000
Edelweiss Finance & Investments Limited 1,77,81,15,479
Edelweiss Fund Advisors Private Limited 5,00,000
Edelweiss Trustee Services Limited 5,00,000
ECL Finance Limited 5,19,05,64,732
ECap Equities Limited 1,00,00,000
Edelcap Securities Limited -
Edelweiss Asset Management Limited 75,00,00,000
Edelweiss Broking Limited 30,58,00,000
Edelweiss Global Wealth Management Limited 4,56,25,000
Edelweiss Trusteeship Company Limited 10,00,000
EC Commodity Limited 21,10,00,000
Edel Commodities Limited -
Edelweiss Alternative Asset Advisors Limited 11,08,00,000
Edelweiss Housing Finance Limited 10,55,00,000
Edelgive Foundation 1,00,000
Edelweiss Investment Adviser Limited 5,00,000
38
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edelweiss Capital (Singapore) Pte. Limited 1,34,63,329
Edel Land Limited 13,50,000
Edelweiss Custodial Services Limited -
Edel Investments Limited 2,10,00,000
Edelweiss Tokio Life Insurance Company Limited 3,64,22,13,428
EC International Limited 62,00,250
Investments in Preference shares
ECap Equities Limited 1,80,00,000
Short term Loans given
Edelweiss Securities Limited 7,88,06,041
Edelweiss Insurance Brokers Limited -
Edelweiss Commodities Services Limited 51,01,33,841
Edelweiss Finance & Investments Limited 42,74,29,086
ECL Finance Limited 98,39,399
ECap Equities Limited 32,61,853
Edelcap Securities Limited -
Edelweiss Fund Advisors Private Limited -
Edelweiss Global Wealth Management Limited -
Edelweiss Alternative Asset Advisors Limited -
Edelweiss Broking Limited 50
Edel Commodities Limited 1,78,70,529
EC Commodity Limited -
Edel Land Limited 9,53,65,489
EC International Limited 2,84,79,75,955
Edelweiss Capital (Singapore) Pte. Limited 31,07,10,076
Edelweiss Web Services Limited 1,75,73,813
Edelweiss Housing Finance Limited 61,81,951
Edelweiss Investment Adviser Limited 16,71,78,839
Edelweiss Financial Advisors Limited 9,43,26,562
Edelweiss Comtrade Limited 3,73,42,384
EFSL Comtrade Limited 15,51,000
EFSL Commodities Limited 31,00,500
Edel Commodities Trading Limited -
Edel Finance Company Limited 9,47,13,448
Edelweiss Custodial Services Limited 1,16,98,885
Edelweiss Asset Management Limited -
Edelweiss Retail Finance Limited 25,60,55,675
Edelweiss Employee Welfare Trust 1,32,38,50,000
Long term Loans given39
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edelweiss Commodities Services Limited 70,00,00,000
Edelweiss Retail Finance Limited 15,00,00,000
Loans taken
Ecap Equities Limited 1,50,00,00,000
ECL Finance Limited -
Edelweiss Comtrade Limited 10,46,00,000
Margin placed with broker
Edelweiss Securities Limited 80,23,879
Trade Payables
Edelweiss Securities Limited 47,47,374
ECL Finance Limited 9,08,000
Edelweiss Financial Advisors Limited -
Edelweiss Broking Limited 3,16,000
Edelweiss Asset Management Limited 5,704
Edelweiss Global Wealth Management Limited 42,819
Edelweiss Housing Finance Limited 5,559
Edel Finance Company Limited 89,000
Edelweiss Alternative Asset Advisors Limited 12,45,884
Edelweiss Commodities Services Limited 21,000
Edelweiss Finance & Investments Limited 5,63,000
Edelweiss Investment Adviser Limited 4,28,000
Edelweiss Web Services Limited 87,035
Trade Receivables
Aster Commodities DMCC 7,13,22,837
EC Global Limited 1,56,25,948
Edelweiss International Singapore Pte Limited 1,69,53,072
Edelweiss Tokio Life Insurance Company Limited 5,11,80,000
Advances
Edelweiss Tokio Life Insurance Company Limited 1,531
Edelweiss Securities Limited 2,85,43,021
Edelweiss Commodities Services Limited 94,17,120
Edelweiss Fund Advisors Private Limited -
ECL Finance Limited 1,25,54,880
Edelweiss Broking Limited 26,91,790
Edelweiss Alternative Asset Advisors Limited 1,98,801
Arum Investments Private Limited 46,65,569
Edelweiss Financial Advisors Limited 31,51,960
Edelweiss Comtrade Limited 3,950
Allium Financial Services Private Limited 28,100 40
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Edelweiss Global Wealth Management Limited 10
Edelweiss Asset Reconstruction Company Limited 7,15,411
Edelweiss Housing Finance Limited 15,53,555
Edelweiss Metals Limited 12,000
Edelweiss Finance & Investments Limited 56,50,857
Edelweiss Web Services Limited 2,00,000
Advances recoverable in cah or in kind for value to be received
Edelweiss Tokio Life Insurance Company Limited 1,09,05,837
Dividend Receivable
Edelweiss Commodities Services Limited 15,92,98,219
Edelweiss Finance & Investments Limited -
Accrued interest on loans given
Edelweiss Securities Limited 83,15,995
Edelweiss Insurance Brokers Limited 33
Edelweiss Commodities Services Limited 75,51,647
Edelweiss Finance & Investments Limited 25,90,689
ECL Finance Limited 38,70,135
Edelweiss Global Wealth Management Limited 1,44,167
ECap Equities Limited 15,74,764
Edelcap Securities Limited -
Edelweiss Broking Limited 7,70,187
Edel Commodities Limited 18,94,883
EC Commodity Limited 31,304
Edelweiss Alternative Asset Advisors Limited 270
Edel Land Limited 2,99,176
Edelweiss Web Services Limited 27,769
EC International Limited 41,96,274
Edelweiss Housing Finance Limited 4,39,075
Edelweiss Custodial Services Limited 1,87,493
Edelweiss Investment Adviser Limited 26,64,420
Edelweiss Financial Advisors Limited 2,07,597
Edelweiss Comtrade Limited 1,02,671
Edelweiss Capital (Singapore) Pte. Limited 37,47,512
EFSL Comtrade Limited 1,51,514
EFSL Commodities Limited 6,40,615
Edel Commodities Trading Limited 14,216
Edel Finance Company Limited 13,89,461
Edelweiss Retail Finance Limited 9,40,801 41
Edelweiss Financial Services Limited (formerly Edelweiss Capital Limited)
Notes to the financial statements (Continued)
for the year ended 31 March 2014
(Currency : Indian rupees)
21 Notes to the accounts (Continued)
21.2 Related party (Continued)
(H) Transactions and balances with related parties :
Particulars
Subsidiaries / entities
controlled by the
Company
Enterprise over which
significant influence is
exercised
Associates Individual exercising
significant control
Relatives of individuals
exerising significant
control
Enterprises which
exercise significant
influence
Interest accrued and due on borrowings
ECap Equities Limited 48,82,195
ECL Finance Limited 7,33,810
Edelweiss Comtrade Limited 3,40,451
Bonus payable
Rashesh shah 2,75,00,000
Himanshu Kaji 1,00,00,000
Corporate Guarantee
ECL Finance Limited 31,18,47,00,000
Edelweiss Securities Limited 7,03,50,00,000
Edelweiss Commodities Services Limited 2,40,00,00,000
Edelweiss Housing Finance Ltd 9,37,37,02,381
Aster Commodities DMCC 2,82,46,90,600
EC Global Limited 60,09,98,000
Edelweiss International Singapore Pte Limited 2,70,44,91,000
Edelweiss Finance & Investments Limited 47,07,00,000
Amounts in brackets represent previous year numbers.
42
