The NCDs offer an effective yield (cumulative) of 9.90% p.a. for 24 months tenure, 10.20% p.a. for 39 months tenure, up to 10.40% p.a. for 60 months tenure and 10.41% for 120 months tenure (monthly option). The funds raised through this Tranche II Issue will be used for the purpose of onward lending and repayment of interest and principal of existing borrowings of the Company and for general corporate purpose.
CRISIL has rated the offering AA- /Stable and CARE has rated it as AA- /Stable. These ratings indicate that the instruments are considered to have a high degree of safety for timely servicing of financial obligations and carry very low credit risk.
Axis Bank Limited and Edelweiss Financial Services are the lead managers for this NCD Issue. The Tranche II Issue opens on 04 November 2019 and closes on 22 November 2019 with an option of early closure. The NCDs will be listed on BSE to provide liquidity to the investors.
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