Dewan Housing Finance has sought markets regulator Sebi's approval
to raise up to Rs 15,000 crore through debentures to support its lending
activities.
This NCD issuance will be in one or more tranches, according to the draft paper filed with Securities and Exchange Board of India (Sebi).
NCDs are loan-linked bonds that cannot be converted into stocks and usually offer higher interest rates than convertible debentures.
This NCD issuance will be in one or more tranches, according to the draft paper filed with Securities and Exchange Board of India (Sebi).
NCDs are loan-linked bonds that cannot be converted into stocks and usually offer higher interest rates than convertible debentures.
In the
draft papers, Dewan Housing said it has proposed public issue of "up to 15
crore secured redeemable non-convertible debentures (NCDs) of face value of Rs
1,000 each aggregating up to Rs 15,000 crore".
Proceeds of the issue will be utilised towards onward lending, financing, and for payment of existing borrowings of the company and for other general corporate purposes.
Yes Securities and
Trust Investment Advisors will mange the public issue.
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