SRG Housing Finance Limited has informed the Exchange about Disclosure under Regulation 30 and 51 of the SEBI Listing Regulations - Issuance of Non-convertible Debentures
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SRG Housing Finance's Borrowing Committee has approved the issuance of rated, secured, listed, senior, redeemable NCDs on a private placement basis. The base issue size is ₹35 crore with an additional green shoe option of ₹15 crore, taking the total potential size to ₹50 crore. Each NCD has a face value of ₹1 lakh, with a total of 5,000 debentures proposed. The NCDs will be secured by an exclusive charge over a specific portfolio of receivables, with a minimum security cover of 1.1 times to be maintained throughout the tenor. The issuance carries a credit rating of Acuité BBB+ with a Positive outlook, and the NCDs are proposed to be listed on BSE.
This ₹50 crore NCD raise will strengthen SRG Housing Finance's lending capital and support business growth, though it adds to the company's debt obligations. The BBB+ Positive rating suggests stable creditworthiness, which is reassuring for existing shareholders, though the dilution-free debt raise means no impact on equity shareholding.