Nido Home Finance NCD opens for subscription on 13 June 2024. The company aims for a base issue size of ₹50 Crores.
About the company
Incorporated in 2008, Nido Home Finance is a non-deposit-taking Housing Finance Company focused on offering secured loan products to suit the needs of individuals, including small ticket loans to its customers in the affordable housing category. It is a part of Edelweiss group which is one leading diversified financial services group in India.
Nido Home Finances loan book was INR 3,069.21 crore as of 31 March 2023, and INR 2,954.12 crore as of 31 December 2023. Its total capital adequacy ratio as of 31 December 2023 computed based on applicable NHB requirements was 34.84%, 31 March 2023 computed based on applicable NHB requirements was 32.06%. As of 31 December 2023, it has 67 offices in 67 cities in India, and the company operations are supported by 595 employees. The company offers customers a range of mortgage-related loan products, including:
- Home Loans, which offer secured loans to salaried individuals, self-employed individuals, and others for purchase/ construction/ renovation of residential properties, against mortgage of the same property, comprise 56.97% of the Loan Book as of 31 March 2023, and 60.88% of the Loan Book as at 31 December 2023.
- Non-housing loans including loans against property (LAP), is a loan facility majorly offered to self-employed individuals, against an unencumbered property, where the end use may be towards deployment of working capital, purchase of property, or any other purpose.
- Construction Finance is a loan facility offered to real estate developers towards the cost of the construction of residential projects. The financing is against real estate collateral along with/without any other security. The loan disbursements are construction-linked
Objectives of the Issue
- For onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the Company.
- General Corporate Purposes.
Nido Home Finance NCD Details
| Issue Open | June 13, 2024 – June 27, 2024 |
| Security Name | Nido Home Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 50.00 Crores |
| Issue Size (Oversubscription) | ₹ 50.00 Crores |
| Overall Issue Size | ₹ 100.00 Crores |
| Issue Price | ₹ 1000 per NCD |
| Face Value | ₹ 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | CRISIL A+/ Watch Negative |
| Tenor | 24, 36, 60 and 120 months |
| Series | Series I to X |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
Nido Home Finance NCD Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 24 months | Annual | 9.50% | 9.50% | ₹ 1,000 |
| Series 2 | 24 months | Cumulative | NA | 9.50% | ₹ 1,199.13 |
| Series 3 | 36 months | Monthly | 9.58% | 10.01% | ₹ 1,000 |
| Series 4 | 36 months | Annual | 10.00% | 10.00% | ₹ 1,000 |
| Series 5 | 36 months | Cumulative | NA | 10.00% | ₹ 1,331.18 |
| Series 6 | 60 months | Monthly | 10.03% | 10.50% | ₹ 1,000 |
| Series 7 | 60 months | Annual | 10.50% | 10.49% | ₹ 1,000 |
| Series 8 | 60 months | Cumulative | NA | 10.50% | ₹ 1,648.17 |
| Series 9 | 120 months | Monthly | 10.26% | 10.75% | ₹ 1,000 |
| Series 10 | 120 months | Annual | 10.75% | 10.74% | ₹ 1,000 |
Nido Home Finance NCD Rating
The NCDs proposed to be issued under the Issue have been rated “CRISIL A+/ Watch Negative (Placed on ‘Rating Watch with Negative Implications)” for an amount of Rs 5,000 million by CRISIL Ratings Limited.
Company Financials
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 3,764.95 | 3,786.24 | 3,956.66 |
| Revenue | 465.71 | 444.69 | 513.91 |
| Profit After Tax | 19.31 | 16.06 | 13.81 |
| Net Worth | 814.79 | 794.47 | 777.63 |
NCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 50,000 |
| Non-Institutional | 50,000 |
| HNI | 200,000 |
| Retail | 200,000 |
| Total NCD’s | 500,000 |
Company Promoters
- Edelweiss Financial Services Limited
- Edelweiss Rural & Corporate Service Limited
- Edel Finance Company Limited
NCD Lead Manager
TIPSONS CONSULTANCY SERVICES PRIVATE LIMITED
401, Sheraton House, Opposite Ketav Petrol Pump,
Polytechnic Road, Ambawadi, Ahmedabad – 380015
Phone: +91 7066828064 / 9589801774
Email: project.shikhar2@tipsons.com
Website: www.tipsons.com
NUVAMA WEALTH MANAGEMENT LIMITED
801-804, Wing A, Building No 3, Inspire BKC,
G Block, Bandra Kurla Complex, Bandra East,
Mumbai – 400 051
Phone: +91 22 4009 4400
Email: nhfl.ncd@nuvama.com
Website: www.nuvama.com
NCD Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot no. 31 and 32, Gachibowli
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222 /18003094001
Email: nhfl.ncdipo@kfintech.com
Website: www.kfintech.com
Company Contact Details
NIDO HOME FINANCE LIMITED
Tower 3, 5th Floor, Wing B, Kohinoor City Mall
Kohinoor City, Kirol Road, Kurla (West)
Mumbai 400070, Maharashtra
Phone: +91 22 4272 2200
Email: investorgrievances@nidohomefin.com
Website: www.nidohomefin.com
Nido Home Finance Documents
Nido Home Finance NCD Subscription Status (no. of times)
| Date | QIB | NII | HNI | Retail | Total |
|---|---|---|---|---|---|
| 27 Jun 2024 | 0.80 | 2.10 | 1.56 | 2.21 | 1.80 |
| 26 Jun 2024 | 0.80 | 1.60 | 1.45 | 1.93 | 1.59 |
| 25 Jun 2024 | 0.80 | 1.15 | 1.02 | 1.75 | 1.30 |
| 24 Jun 2024 | 0.80 | 0.75 | 1.03 | 1.54 | 1.18 |
| 21 Jun 2024 | 0.80 | 0.75 | 0.77 | 1.27 | 0.97 |
| 20 Jun 2024 | 0.80 | 0.82 | 0.61 | 0.99 | 0.83 |
| 19 Jun 2024 | 0.80 | 0.74 | 0.54 | 0.93 | 0.74 |
| 18 Jun 2024 | 0.80 | 0.62 | 0.45 | 0.76 | 0.62 |
| 14 Jun 2024 | 0.80 | 0.42 | 0.29 | 0.40 | 0.40 |
| 13 Jun 2024 | 0.80 | 0.00 | 0.11 | 0.18 | 0.19 |
Allotment Status
Nido Home Finance NCD June 2024 allotment status will be available on KFin Technologies’ website. Click on this link to get allotment status.
Final Thoughts
Non-convertible debentures (NCDs) are a better investment option for those seeking a diversified portfolio. investing in Nido Home Finance NCD is purely your personal choice. make a good study and analysis before you make the investment decision.
Happy Investing
