Page 2 - Ncds

Adani Ports raises Rs 500 crore by issuing NCDs on private placement basis

Adani Ports and Special Economic Zone (APSEZ) on Tuesday raised Rs 500 crore by issuing non-convertible debentures on private placement basis. Billionaire Gautam Adani's firm in a regulatory filing said it has accepted bids aggregating to Rs 500 crore for two listed bonds, with one maturing in five years and the other in 10 years. "The company raised Rs 500 crore today i.e. January 9, 2024 by allotment of 50,000 rated, secured, listed, redeemable, non-convertible debentures (NCDs) of face value of Rs 1,00,000/ each on private placement basis," it said. The NCDs will be listed on the wholesale debt market segment of BSE. APSEZ is the largest port developer and operator in India with 7 strategically located ports and terminals on the west coast and as many ports and terminals on the east coast, representing 26 per cent of the country's total port volumes.

NBFC lender 360 One Prime to raise Rs 1,000 cr from reedemable NCDs

Non-banking financial company 360 One Prime, formerly IIFL Wealth, on Monday said it will raise up to Rs 1,000 crore debt through its maiden public issue of secured, redeemable, Non-Convertible Debentures (NCDs). The first tranche of the issue, which will be listed on the BSE, will open for subscription on January 11, with a base issue size of Rs 200 crore and an option to retain over-subscription of up to Rs 800 crore, the company in a statement said. The proceeds from the issue will be used for onward lending, financing/refinancing existing debt and interest payment of existing borrowings and other general corporate purposes. The company offers a coupon rate of 8.91-9.66 per cent per annum, depending on the tenor -- 18, 24, 36, and 60 months with monthly and annual interest payment options across eight series -- Karan Bhagat, Founder, and Chief Executive of the company, said. 360 One Prime is a wholly-owned subsidiary of 360 One WAM, which was formerly known as IIFL Wealth ...

Muthoot Finance to raise up to Rs 1,000 crore capital through NCDs

Gold loan focused non-bank lender Muthoot Finance on Tuesday said it will raise up to Rs 1,000 crore through a public issue of secured, redeemable non-convertible debentures. The fresh non-convertible debentures (NCDs), which is the 33rd public issue of the largest gold loan financier with over Rs 60,000 crore of loan outstanding, has a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 900 crore. The issue opens on January 8 and closes on January 19 with an option to close on such earlier date or extended date as may be decided by the board, the Kochi-based company said in a statement. The NCDs, which have been rated AA+ (stable) by Crisil and Icra, will be listed on the BSE post allotment. The issuer is offering seven investment options for the NCDs with monthly or annual interest payment frequency or on maturity redemption with interest rate ranging from 8.75-9 per cent per annum, the company's managing director George Alexander Muthoot said.

Vedanta board approves raising of Rs 3,400 cr NCD for refinancing purposes

These would be secured, Unrated, Unlisted, Redeemable, NCDs of face value Rs 1,00,000/- each aggregating upto Rs 3,400 crore in one or more tranches, the company said

Sebi likely to allow non-convertible debentures with lower face value

Further, these issuances will only be interest or dividend-bearing instruments with a simple structure

Tata Projects to raise up to Rs 750 cr via non-convertible debentures

TPL raised two subordinated NCDs of Rs 500 crore each in FY22 and FY23, which have a redemption tenure of six and half years and six years, respectively

Arka Fincap aims to raise Rs 300 crore via non-convertible debentures

Due to surging unsecured loans like personal loans and those on credit cards, the RBI increased the risk weighting for such loans from 100 per cent to 125 per cent

PNB Housing Finance to raise Rs 3,500 cr via NCDs to fund business growth

PNB Housing Finance on Friday said its board has approved a proposal to raise Rs 3,500 crore via non-convertible debentures (NCDs) to fund business growth. The NCD will be raised on a private placement basis, PNB Housing Finance said in a regulatory filing. The fund will be raised in tranches over the next six months, it said.

Medium & small NBFCs may require debt funding worth Rs 2.2 trn: ICRA

The capital profile of the larger NBFCs has improved after FY 2019 as the growth slowed down

Incred Finance plans to raise Rs 300 crore via non-convertible debentures

The company plans to allocate 75 per cent of the net proceeds for purposes such as onward lending, financing and the repayment of existing borrowings, including interest and principal

Edelweiss Financial Services to raise up to Rs 200 crore via NCDs

At least 75% of the funds raised will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the company

Aditya Birla Finance aims to raise Rs 2K cr via non-convertible debentures

The NCDs are divided into three maturity options of three years, five years, and 10 years

Aditya Birla Finance to raise up to Rs 2K cr through maiden issue of NCDs

The NCDs will be issued with tenor options of three, five, or ten years offered with 'monthly', 'annual' or 'cumulative' interest payment frequency

DLF's rental arm DCCDL raises Rs 1,100 cr through issue of debentures

DLF's rental arm DCCDL has raised Rs 1,100 crore through issuance of non-convertible debentures on a private placement basis. In a regulatory filing on Thursday, DLF informed that the DLF Cyber City Developers Ltd (DCCDL) board has approved the allotment of debentures. DCCDL said that the securities allotment committee of the Board of Directors has approved the allotment of 1,10,000 senior, listed, rated, secured, redeemable, transferable, rupee-denominated NCDs (Non Convertible Debentures) of the face value of 1 lakh each on a private placement basis to eligible investor(s). The size of the issue is Rs 1,100 crore. These NCDs will be listed on the BSE. The coupon rate is 8.25 per cent per annum. The maturity is August 17, 2033. DCCDL is a joint venture between DLF and Singapore sovereign wealth fund GIC. DLF holds a 66.67 per cent stake while the GIC has a 33.33 per cent stake in the DCCDL. DLF holds the bulk of its rental assets (offices and shopping malls) through DCCDL. DCCD

Vedanta board approve raising Rs 2,500 crore in non-convertible debentures

These would be raised in the form of secured, unrated, unlisted, redeemable NCDs in one or more tranches, the company said

Cube Highways Trust secures Rs 1,030 cr funding from IFC via long-term NCDs

The funds raised through this deal will be utilised for a special purpose vehicle (SPV) owned by Cube Highways Trust

IIFL to raise Rs 1,500 cr in bonds to fuel growth, caps coupon rate at 9%

Leading non-bank lender IIFL Finance is raising up to Rs 1,500 crore through a public issue of secured redeemable non-convertible debentures (NCDs) to fuel credit growth and debt management, a senior company official said on Thursday. The public issue of the IIFL NCDs will open on Friday and has a base offer of Rs 300 crore. However, the company has a green shoe option to retain an over-subscription of up to Rs 1,200 crore. With the Reserve Bank of India pausing its rate hike cycle, IIFL remains optimistic about raising the entire Rs 1,500 crore in this tranche of issues with an attractive 9 per cent coupon rate. "We expect to raise the full subscription amount in this issue due to the attractive coupon rates. Credit growth is robust after the Covid-19 pandemic, IIFL Director Gaurav Mishra said. The IIFL bonds offer a coupon rate starting at 8.35 per cent for 24 months and the highest effective yield of 9 per cent per annum for a tenor of 60 months. IIFL has kept the highest coupo

SBI Cards and Payment Services to raise Rs 3,000 crore through NCDs

The board approved raising of funds by way of issuance of NCDs in one or more tranches, on a private placement basis

Embassy REIT raises Rs 1,050 crore through NCDs to refinance bank loans

Embassy Office Parks REIT expects to secure interest savings of approximately 138 basis points

Indel Money to raise Rs 100 cr via secured non-convertible debentures

Indel Money Limited, a non-bank lender focussed on gold loan, on Thursday said it will raise Rs 100 crore through secured non-convertible debentures (NCDs). The NCD issue of face value of Rs 1,000 each will open on June 6 and close on June 19, the lender said in a release. "The issue includes a base issue size for an amount of up to Rs 50 crore with an option to retain oversubscription up to Rs 50 crore aggregating up to Rs 100 crore," it said. The debentures will be issued for a tenure ranging from 400 days to 72 months with coupon rates of up to 12.25 per cent per annum, the company said, adding that the issue is rated as BBB+/Stable by Crisil Ratings Ltd. "Increased revenue, profitability and visibility are the factors that drive the branch network. With this issue, we aim to expand our sources of funds," said Umesh Mohanan, Executive Director and CEO, Indel Money. Indel Money earlier raised Rs 100 crore through NCDs in May 2022. It also plans to raise around Rs 300 crore thro