Bajaj Housing Finance allots NCDs worth Rs 1,020.38 crore privately
BAJAJHFL · price
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On the reaction day the stock moved 0.6 pts less than Nifty Midcap 150 and 0.1 pts more than its Housing Finance Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bajaj Housing Finance has allotted 1 lakh secured redeemable NCDs at face value of Rs 1,00,000 each, aggregating to Rs 1,020.38 crore, on a private placement basis. The NCDs carry a coupon of 7.10 percent per annum paid annually and mature on 16 October 2028, about 969 days away. They will be listed on the Wholesale Debt Market of BSE under a re-issued ISIN and are secured by a first pari-passu charge on book debts at 1 time cover.
Routine debt raise of about Rs 1,020 crore at 7.10 percent coupon. No equity dilution; minimal impact on existing shareholders.