Dewan Housing Finance Corporation (DHFL) is planning to raise funds through Non-Convertible Debentures (NCDs). The company has proposed to issue Secured Redeemable NCDs amounting to Rs 300 crore and a Greenshoe option of up to Rs 300 crore on Private Placement basis, pursuant to special resolution passed by the shareholders of the company at the 33rd annual general meeting held on July 21, 2017.
The issue will open on March 21 and close on the same day. The tenure of the securities is 1 year 3 days. The rating agency CARE has put a rating of AAA to the said issue.
DHFL is one of India's premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.