Bengaluru: Dewan Housing Finance Corporation Limited proposes to open on August 3, 2016, a public issue of secured redeemable Non-Convertible Debentures (NCD) of face value of Rs. 1,000 each aggregating up to Rs. 4,000 crore. (Shelf Limit) by way of Tranche 1 Prospectus to be read together with the Shelf Prospectus dated July 26, 2016 (Prospectus). (Tranche I Issue). The Issue is scheduled to close on August 16, 2016, with an option of early closure or extension as decided by the Board of Directors of our Company (Board) or the Finance Committee.
The NCDs proposed to be issued under this Issue have been rated ‘CARE AAA (Triple A)’ for an amount of Rs. 4,000 crore by Credit Analysis and Research Limited (CARE) vide their letter dated July 7, 2016 and BWR AAA (Pronounced as BWR Triple A) Outlook: Stable for an amount of Rs. 4,000 crore, by Brickwork Ratings India Private Limited (Brickwork) vide their letter dated July 7, 2016. The rating of CARE AAA by CARE and BWR AAA, Outlook: Stable by Brickwork indicates that instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk. The minimum application amount is Rs. 10,000 collectively across all options on NCDs and in multiples of One (1) NCD after the minimum application. Allotment is on a first-come-first-serve basis (except on the date of oversubscription, if any, when all the investors applying on the said date will get allotment on a proportionate basis). Investors have an option to apply for NCDs in dematerialized as well as physical form.

Harshil Mehta, CEO, DHFL, said, “Over the last three decades, DHFL has been a LMI (Low & Middle Income) focused housing finance company in the semi urban and tier 2 and 3 locations. Our Company’s first NCD Public Issue is one of the various funding sources to optimize funding costs and maintain a diverse funding portfolio that will enable us to achieve funding stability and liquidity.”