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Aadhar Housing Finance Limited opts for NCD Issue from Sept 14

By HindusthanSamachar | Publish Date: Sep 13 2018 2:14PM
Aadhar Housing Finance Limited opts for NCD Issue from Sept 14
Kolkata, Sept 13 (HS): Aadhar Housing Finance Limited (AHFL), a deposit taking housing finance company focused on providing affordable housing financing products for the lower income group people in smaller cities and towns, will go for an open public issue of Secured Redeemable Non-Convertible Debentures (NCD) on 14 September of the face value of Rs 1,000 to raise Rs. 5,000 crores with an option to retain over subscription of up to Rs. 9,000 crores, aggregating up to Rs. 14,000 crores. The Issue is scheduled to be closed on 28 September with an option of early closure or extension as decided by the Board of Directors or the Working Committee. The allotment of the Issue would be on a first-come-first-serve basis. Claiming that the NCDs have been rated as ‘CARE AA plus, Anmol Gupta, Chief Financial Officer, AHFL here today said the structure of the public issue were divided into three tenures of three, five and ten years with an effective annual interest rates varying between minimum 9.25 per cent to maximum 9.75 per cent depending on different series. Moreover, he said, the Category four Investors, termed as Retail Individual Investors, had been defined as Resident Indian Individuals and Hindu Undivided Families through the Karta. At least 75 per cent of the net proceeds of the Issue would be used for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company,Gupta said adding. the remaining 25 per cent of the fund would be utilised for general corporate purposes. Hindusthan Samachar/Ankur/Shri Ram Shaw
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