DHFL to raise Rs 500 cr from debentures

Mortgage firm Dewan Housing Finance Corporation Ltd (DHFL) today said it proposes to raise Rs 500 crore from issuing debentures to fund business growth.
The company proposes to issue 5,000 Secured Non- Convertible Redeemable Debentures with a face value of Rs 10 lakh each aggregating to Rs 500 crore on Private Placement basis, DHFL said in a statement.
The debenture will carry a coupon rate of 9.40 per cent payable annually and at maturity.
The debentures will be listed on National Stock Exchange.
The issue opens on March 30 and closes on the same day.