Bengaluru 12th Sep 2018: Aadhar Housing Finance (AHFL) wednesday said it is planning to raise up to 1,400 crore through non-convertible debentures (NCDs), maturing in three, five and 10 years. The base size of the issue is 500 crore, with an option to retain over subscription up to 900 crore.
“At least 75% of the proceeds of the issue will be used for lending, financing and repayment of interest and principal of existing borrowings of the company. The balance will be used for general corporate purposes,” said Mr.Deo Shankar Tripathi, Managing Director and Chief executive officer, AHFL. addressing the press conference in Bengaluru.
The company is offering an annual coupon of 9.60%, 9.65% and 9.75% on the three, five and 10-year bonds, respectively. The issue will open on 14 September and close on 28 September.
AHFL provides affordable housing financing products to economical weaker section and low-income group in small cities and towns.
The Lead Managers to the Issue are YES Securities (India) Limited, Edelweiss Financial Services Limited, YES Bank Limited, Axis Bank Limited, A. K. Capital Services Limited, Green Bridge Capital Advisory Private Limited and Trust Investment Advisors Private Limited.