Comments
The ₹12,000-crore NCD issue of Dewan Housing Finance Corporation has received a strong demand on Tuesday, its opening day, with the base size of ₹3,000 crore subscribed fully.
According to the exchanges data, as against the base offer of 3 crore NCDs of face value of ₹1,000 each, the issue has received bids for 10.23 crore securities. The issue has a green shoe option to retain up to ₹9,000 crore of oversubscription.
The issue will close on June 4, or once the entire ₹12,000 crore is subscribed. The bonds are rated AAA by CARE and Brickwork Ratings, with a stable outlook.
The bonds, which would be allotted on first-come, first-served basis will have six series, with tenors of three, five, seven and 10 years and carry coupon rates of 8.56-9.1 per cent.
Shares of DHFL ended 1.1 per cent lower at ₹607.65 on the NSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.