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Follow on Google News | Reliance Home Finance plans to raise 3,500 cr via NCDsThe company plans a public issue of secured redeemable NCDs combining upto Rs 3,000 crore and unsecured non-convertible debentures valued Rs. 50,000 lakh, totaling upto Rs 3,500 crore, draft papers filed with markets regulator SEBI showed. The NCDs will be issued in one or more tranches depending on the shelf limit. NCDs are loan-linked bonds that cannot be converted into stock and it offers higher interest rates better than convertible debentures. Proceeds of the issue will be used for onward lending, financing, repayment of Company's existing borrowings and for other general corporate purposes. Reliance Home Finance Ltd, a 100 percent subsidiary of Reliance Capital, offers a wide range of loan solutions such as home loan, loan against property and construction finance. The NCDs are being issued to Institutional, Non-Institutional, High Net worth Individuals (HNI) and Retail investors (RI) for a period of 3 years, 5 years and 10 years for Secured NCDs and 15 years for Unsecured NCDs with a call option after 10 years. For Daily Market Updates, Please Join us on Facebook at https://www.facebook.com/ End
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