DHFL gets ₹10,000 cr on Day 1, post NCD issue

DHFL gets ₹10,000 cr on Day 1, post NCD issue
24/05/2018 , by , in News/Views

Dewan Housing Finance Corporation (DHFL) ₹12,000-crore NCD (non-convertible debentures) issue received a strong demand on it’s opening day with the base size of ₹3,000 crore subscribed fully. Housing finance company DHFL Ltd garnered subscriptions of over Rs 10,234 crore.

The company on Monday, said that the issue which is to close on June 4 can be pre-closed if the issue is fully subscribed before that.Also the bonds, which would be allotted on first-come, first-served basis will have six series, with tenors of three, five, seven and 10 years and carry coupon rates of 8.56-9.1 per cent.

DHFL will use 75 percent of the proceeds raised from the issue for sub-lending and business growth, while the rest is slated to be used for general corporate purpose of DHFL.

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