Nido Home Finance Limited NCD Company Profile:
Nido Home Finance Limited (formerly known as Edelweiss Housing Finance Limited), established in 2008 is a non-deposit-taking housing finance company which offers various types of loans to customers. Nido Home Finance comes under the Edelweiss Group, one of the top providers of varied financial services in India. The portfolio of the company consists of:
- Home loans: Providing secured loans for the acquisition, building, or refurbishment of residential properties to individuals with regular jobs, independent contractors, and others, secured by a mortgage on the same property.
- Non-housing loans, such as loans against property (LAP): Lending money to independent contractors against freehold real estate with the intention of using it for a variety of purposes, such as buying a property or supplying operating capital.
- Construction Loan: A loan option available to developers to cover the costs of their residential developments.
Nido Home Finance Limited is coming out with a debt offering of Secured Redeemable Non-Convertible Debentures with a face value of ₹ 1000 each, a Base Issue size of ₹ 50 Crore, and an option to retain oversubscription up to ₹ 50 Crore aggregating up to ₹ 100 crore. The issue opens for subscription on Thursday, 13th June, 2024, and will close on or before Thursday, 27th June 2024. The allotment is on a first come first serve basis with the minimum application to be made of 10 NCDs.
Nido Home Finance Limited NCD Details:
| Issue opens: | Thursday, 13th June, 2024 | ||||
| Issue closes: | Thursday, 27th June, 2024 | ||||
| Allotment: | First Come First Serve Basis | ||||
| Face Value: | ₹ 1,000 per NCD | ||||
| Nature of Instrument: | Secured Redeemable Non-Convertible Debenture (“NCDs”) | ||||
| Minimum Application: | 10 NCDs (₹ 10,000) & in multiple of 1 NCD | ||||
| Listing: | BSE | ||||
| Credit Rating: | CRISIL A+/Watch Negative | ||||
| Issue Size: | Public issue by Nido Home Finance Limited (“the Company”) of secured, rated, listed, redeemable, non-convertible debentures of face value of ₹ 1,000 each (“NCDs”) for an amount up to ₹50 crores (“Base Issue Size”) with an option to retain oversubscription up to ₹50 crores (“Green Shoe Option”), aggregating up to ₹100 crores. | ||||
| Registrar: | KFin Technologies Limited | ||||
| Category | I – Institutional (“QIB”) | II – Non-Institutional (“Corporates”) | III – High Net worth
Individual (“HNI”) (Amount aggregating to above ₹ 10 lakh) |
IV – Retail Individual (“Retail”) (Amount aggregating up to and including ₹ 10 lakh) | |
| Category Allocation of the overall Issue Size | 10% | 10% | 40% | 40% | |
| Bucket Size (₹) assuming Issue size of ₹ 100 Cr | ₹ 10 Cr | ₹ 10 Cr | ₹ 40 Cr | ₹ 40 Cr | |
Nido Home Finance Limited NCD Specific Terms of the Prospectus:
The terms of the NCDs offered under the Issue are as follows:
| Series | I | II | III | IV** | V | VI | VII | VIII | IX | X |
| Frequency of Interest Payment | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual |
| Tenor in Months | 24 | 24 | 36 | 36 | 36 | 60 | 60 | 60 | 120 | 120 |
| Coupon (% per annum) for NCD Holders in Category I, II, III, IV | 9.50% | NA | 9.58% | 10.00% | NA | 10.03% | 10.50% | NA | 10.26% | 10.75% |
| Effective Yield (% per annum) for NCD Holders in Category I, II, III, IV | 9.50% | 9.50% | 10.01% | 10.00% | 10.00% | 10.49% | 10.49% | 10.50% | 10.75% | 10.74% |
| Amount (₹ / NCD) on Maturity for NCD Holders in Category I, II, III, IV | ₹ 1,000/- | ₹ 1,199.13/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,331.18/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,648.27/- | ₹ 1,000/- | ₹ 1,000/- |
| Maturity / Redemption Date (from the Deemed Date of Allotment) | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months | 120 Months | 120 Months |
** The Company shall allocate and allot Series IV NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.
For any queries related to the NCD, you can consult the team at Elite Wealth. Since Demat is mandatory for investing in this particular NCD, the investor must open a Demat account with a trusted broker like Elite Wealth.