Nido Home Finance NCD – February 2024

Nido Home Finance NCD opens for subscription on 13 February 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 OpenFebruary 13, 2024 – February 26, 2024
Security NameNido Home Finance Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)₹ 50 Crores
Issue Size (Oversubscription)₹ 50 Crores
Overall Issue Size₹ 100 Crores
Issue Price₹ 1000 per NCD
Face Value₹ 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Credit RatingCRISIL A+/Stable by CRISIL Ratings Limited.
Tenor24, 36, 60 and 120 Months
SeriesSeries I to X
Payment FrequencyMonthly, Annual, and Cumulative
Basis of AllotmentFirst Come First Serve Basis
Debenture Trustee/sBeacon Trusteeship Limited

Nido Home Finance NCD Options and Coupon Rates

OptionTenureInterest PaymentCoupon RateEffective YieldMaturity Amount
Series 124 monthsAnnual9.50%9.50%₹ 1,000
Series 224 monthsCumulativeNA9.50%₹ 1,199.13
Series 336 monthsMonthly9.58%10.00%₹ 1,000
Series 436 monthsAnnual10.00%10.00%₹ 1,000
Series 536 monthsCumulativeNA10.00%₹ 1,331.18
Series 660 monthsMonthly10.03%10.49%₹ 1,000
Series 760 monthsAnnual10.50%10.49%₹ 1,000
Series 860 monthsCumulativeNA10.50%₹ 1,648.27
Series 9120 monthsMonthly10.26%10.75%₹ 1,000
Series 10120 monthsAnnual10.75%10.74%₹ 1,000

Nido Home Finance NCD Rating

The NCDs proposed to be issued under this Issue have been rated “CRISIL A+/Stable” for an amount of ₹5,000 million by CRISIL Ratings Limited.

Company Financials

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Profit After Tax16.0613.813.73
Net Worth794.47777.63762.79
(Amount in ₹ Crore)

Nido Home Finance NCD Allocation Ratio

Category NCD’s Allocated

NCD’s Offered by Category

Category NCD’s Reserved
Total NCD’s500,000

Company Promoters

  • Edelweiss Financial Services Limited
  • Edelweiss Rural & Corporate Services Limited
  • Edel Finance Company Limited

Nido Home Finance NCD Lead Manager

801 – 804, Wing A, Building No 3, Inspire BKC,
G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400 051
Tel: +91 22 4009 4400

401, Sheraton House, Opp. Ketav Petrol Pump,
Polytechnic Road, Ambawadi Ahmedabad – 380015
Phone: +91 79 66828047/8460505716

Nido Home Finance Registrar

Selenium Tower B, Plot No – 31 & 32,
Financial District, Nanakramguda,
Serilingampally, Hyderabad Rangareddi,
500 032, Telangana, India
Phone: +91 40 6716 2222

Company Contact Details

Tower 3, 5th Floor, Wing B, Kohinoor City Mall Kohinoor City,
Kirol Road, Kurla (West) Mumbai 400070, Maharashtra, India
Phone: +91 22 4272 2200

Final Thoughts

Non-convertible debentures (NCDs) are a better investment option for those who are looking for 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

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