As Dewan Housing Finance Corporation (DHFL) is launching its NCD once again this month itself. After the huge success of its NCD subscription in the first time the amount is much more than that.
The NCD issue of face value of Rs1,000 each with a base issue size of Rs2,000 crore and an option to retain oversubscription of up to Rs8,000 crore aggregating up to Rs10,000 crore opens on 29 August.
On April 11, 1984, Dewan Housing Finance Corporation (DHFL) was establish to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.
DHFL is the second housing finance Company to be established in the country. However, with a unique mission, which is today benchmark as a model of financial inclusion in the Indian financial services sector.
DHFL has an existing joint venture agreement with Prudential Financial, Inc. and holds 50% equity stake in DHFL Pramerica Life Insurance Company Private Limited (DPLI) , a registered life insurance company in India regulated by the IRDAI.
Objects of the Issue:
1. For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company;
2. General corporate purposes;
DHFL NCD details:
- Issue Open: Monday, August 29, 2016 – Monday, September 12, 2016.
- Issue Type: 100% Book Built Issue (First Come First Serve).
- Face Value: Rs. 1000 Per NCD.
- Minimum Order Quantity: 10 NCDs and in multiple of 1 NCD thereon.
- Issue Size: Rs 10,000 Crore.
- Listing At: NSE, BSE.
|Category||Portion||Allotment Basis||Size (%)|
|QIBs (I)||Institutional||“First Come First Serve” basis||20% of the overall issue size|
|Corporates (II)||Non-Institutional||“First Come First Serve” basis||20% of the overall issue size|
|Resident Individuals, HUFs,>10 Lacs (III)||HNI||“First Come First Serve” basis||30% of the overall issue size|
|Resident Individuals, HUFs,<=10 Lacs (IV)||Retail||“First Come First Serve” basis||30% of the overall issue size|
|For Individuals||For Non Individuals|
|9.10% p.a. for 3 Years||9.05% p.a. for 3 Years|
|9.15% p.a. for 5 Years||9.05% p.a. for 5 Years|
|9.25 % p.a. for 10 Years||9.05 % p.a. for 10 Years|
Credit Rating:CARE AAA & BWR AAA which indicates stable issue & higher safety.
Draft Shelf Prospectus (DSP) of Dewan Housing Finance Corporation (DHFL) NCD :
Shelf Prospectus (SP) of Dewan Housing Finance Corporation (DHFL) NCD :
Tanche 1 Prospectus of Dewan Housing Finance Corporation (DHFL) NCD :
IIFL Holdings Ltd, SBI Capital Markets Ltd and Trust Investment Advisors Pvt Ltd will be the lead manager of the issue. While Catalyst Trusteeship Ltd will be theDebenture Trustee of the issue.
Karvy Computershare Pvt Ltd will be the registrar of the issue.
Bidding for Shiva Granito Export Ltd IPO, a BSE SME IPO is also going to start from August 23, 2016 to August 29, 2016. While bidding for one more BSE SME IPO Mitsu Chem Plast Ltd IPO going to start from August 26, 2016 to August 31, 2016.
Bidding for another IPO Madhya Bharat Agro Products Ltd IPO, a NSE SME IPO will start from August 29, 2016.
There are some good stocks in Pipeline this year including BSE itself coming with its own IPO. BSE will be selling its shares on index and traded on exchange.
So Keep watching this blog to keep yourself updated with all the news.
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