DHFL seeks Sebi nod to raise up to rs 15,000 crore

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Dewan Hous­ing Fi­nance has sought mar­kets reg­u­la­tor Sebi’s ap­proval to raise up to Rs 15,000 crore through deben­tures to sup­port its lend­ing ac­tiv­i­ties. This NCD is­suance will be in one or more tranches, ac­cord­ing to the draft pa­per filed with Se­cu­ri­ties and Ex­change Board of In­dia (Sebi). NCDS are loan-linked bonds that can­not be con­verted into stocks and usu­ally of­fer higher in­ter­est rates than con­vert­ible deben­tures. In the draft pa­pers, Dewan Hous­ing said it has pro­posed pub­lic is­sue of “up to 15 crore se­cured re­deemable non-con­vert­ible deben­tures (NCDS) of face value of Rs 1,000 each ag­gre­gat­ing up to Rs 15,000 crore”. Pro­ceeds of the is­sue will be utilised to­wards on­ward lend­ing, fi­nanc­ing, and for pay­ment of ex­ist­ing bor­row­ings of the com­pany and for other gen­eral cor­po­rate pur­poses. Edel­weiss Fi­nan­cial Ser­vices, A K Cap­i­tal Ser­vices, Axis Bank, Green Bridge Cap­i­tal Ad­vi­sory, ICICI Bank, ICICI Se­cu­ri­ties, IIFL Hold­ings, In­dusind Bank, SBI Cap­i­tal Mar­kets, Yes Se­cu­ri­ties and Trust In­vest­ment Ad­vi­sors will man­age the pub­lic is­sue.

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