Established in the year 2010, Nido Home Finance NCD (previously recognized as Edelweiss Housing Finance Limited) stands as a Housing Finance Company, dedicated to granting customers access to credit across a range of loan categories.
The company’s portfolio includes:
- Home Loans
- Loans against Property(LAP)
- Home Improvement Loans
- Plot + Self-Construction Loans
- Balance Transfer of existing loans from other banks/HFCs/NBFCs
As of June 30, 2023, Nido have 67 offices in 67 cities in India. The company’s operations are supported by 598 employees as of June 30, 2023.
Nido Home Finance NCD Aug 2023 Detail
| Issue Open | Aug 30, 2023 – Sep 12, 2023 |
| Security Name | Nido Home Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Shelf) | Rs 150.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | CRISIL AA-/Negative & [ICRA] A+ (Stable) |
| Tenor | 24, 36, 60 and 120 months |
| Series | Series I to X |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
NCD Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 10% |
| HNI | 40% |
| Retail | 40% |
Nido Home Finance Limited NCD Coupon Rates
| # | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | NA | Monthly | Annual | NA | Monthly | Annual | NA | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | NA | 9.20% | 9.60% | NA | 9.67% | 10.10% | NA | 10.00% | 10.45% |
| Effective Yield (% per Annum) | 8.95% | 9.58% | 9.59% | 9.60% | 10.10% | 10.09% | 10.10% | 10.46% | 10.44% |
| Amount on Maturity (In Rs.) | Rs 1,187.30 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,317.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,618.70 | Rs 1,000.00 | Rs 1,000.00 |
NCD Rating
The Non-Convertible Debentures (NCDs) intended to be released as part of this offering have obtained a credit rating of “CRISIL AA-/Negative” (spoken as CRISIL double A minus rating with a negative outlook) for a total sum of ₹1,500 million from CRISIL Ratings Limited. Additionally, they have received an “[ICRA] A+ (Stable)” rating for an aggregate amount of ₹1,500 million from ICRA Limited.
Company Promoters
Edelweiss Financial Services Limited, Edelweiss Rural & Corporate Services Limited and Edel Finance Company Limited are the company promoters.
Company Financials
Nido Home Finance NCD Aug 2023 Financial Information (Restated)
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 4,931.10 | 3,956.66 | 3,786.24 |
| Revenue | 551.05 | 513.91 | 444.69 |
| Profit After Tax | 3.73 | 13.81 | 16.06 |
| Net Worth | 762.79 | 777.63 | 794.47 |
Objects of the Issue
The company proposes to utilise the funds which are being raised through the Issue:
- For the purpose of onward lending, financing, and for repayment/ prepayment of interest and principal of existing borrowings of our Company.
- General Corporate Purposes.
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