Nido Home Finance NCD opens for subscription on 18 September 2024. The company aims for a base issue size of ₹50 Crores.
About the company
Incorporated in 2008, Nido Home Finance Limited (formerly Edelweiss Housing Finance Limited) is a non-deposit-taking housing finance company offering customers access to credit for various types of loans. Nido Home Finance is part of the Edelweiss Group, one of India’s leading diversified financial services groups. The company’s portfolio includes:
- Home Loans: Offering secured loans to salaried, self-employed, and others for the purchase/construction/renovation of residential properties against a mortgage on the same property.
- Non-Housing Loans including loans against property (LAP): Offering loans to self-employed, against an unencumbered property, where the purpose may be to provide working capital, purchase a property, or any other purpose.
- Construction Loan: Loan facility for developers to finance residential projects’ costs.
The company received the ‘Best Analytics HFC’ award at the India NBFC Summit & Awards and the ‘Best Data Science Housing Finance Company’ award at the World BFSI Congress and Awards in 2023. Additionally, we were honoured with the ‘Excellence in Data Analytics (Housing Finance Sector)’ and ‘Excellence in Risk Management (Housing Finance Sector)’ awards at the National Awards for Excellence 2023, which took place in July 2023. As of June 30, 2024, Nido had 67 branches in 67 cities in India and employed 679 people.
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 | September 18, 2024 – October 1, 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 by CRISIL Ratings Limited. |
| 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
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | NA | Monthly | Annual | NA | Monthly | Annual | NA | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 9.5% | NA | 9.58% | 10% | NA | 10.03% | 10.5% | NA | 10.49% | 11% |
| Effective Yield (% per Annum) | 9.5% | 9.5% | 10.01% | 10% | 10% | 10.5% | 10.49% | 10.5% | 11% | 10.99% |
| Amount on Maturity (In Rs.) | ₹1,000 | ₹1,191.13 | ₹1,000 | ₹1,000 | ₹1,331.18 | ₹1,000 | ₹1,000 | ₹1,648.27 | ₹ 1,000 | ₹ 1,000 |
Nido Home Finance NCD Rating
The NCDs proposed to be issued under this 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 |
Nido Home Finance NCD Allocation Ratio
Company Promoters
- Edelweiss Financial Services Limited
- Edelweiss Rural & Corporate Services Limited
- Edel Finance Company Limited
Nido Home Finance NCD Prospectus
Lead Manager
- Tipsons Consultancy Services Private Limited
- Nuvama Wealth Management Limited
Nido Home Finance Registrar
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: nhfl.ncdipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Company Contact Details
Nido Home Finance Limited
Tower 3, 5th Floor, Wing B,
Kohinoor City Mall Kohinoor City, Kirol Road,
Kurla (West) Mumbai-400070,
Phone: +91 22 4272 2200
Email: investorgrievances@nidohomefin.com
Website: https://www.nidohomefin.com/
Nido Home Finance NCD 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. Do a thorough study and analysis before you make the investment decision.
Happy Investing
