DHFL to raise up to Rs 10,000 crore via NCDs

Dewan Housing Finance Corporation on Wednesday said it will raise up to Rs 10,000 crore through issuance of secured non-convertible debentures (NCDs) in one or more tranches.

"The company at its meeting held on August 17, 2016, considered and approved the proposal of raising of funds by way of a public issue of secured non-convertible debentures (NCDs), subject to the receipt of necessary approvals, for an amount up to Rs 2,000 crore along with a green shoe option of up to Rs 8,000 crore, in one or more tranches," Dewan Housing Finance Corporation said in a BSE filing.

It further said: "The board of directors has also authorised the Finance Committee to undertake necessary decisions in relation to the proposed Issue, deciding from time to time the tenure of the NCDs, coupon/ interest offered, schedule of payment of interest/coupon and the principal, details of the security/charge to be created in favour of the NCD holders; details of redemption of the NCDs and allied matters in relation to the issue of NCDs, at the time of the issue of the relevant tranche prospectus".

The NCDs are proposed to be listed on the National Stock Exchange and BSE.

Shares of Dewan Housing Finance Corporation were trading at Rs 263.70 apiece, up 0.21 per cent on the BSE.