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The ₹12,000-crore NCD issue of Dewan Housing Finance Corporation has received a strong demand on Tuesday, its opening day, with the base size of ₹3,000 crore subscribed fully.
According to the exchanges data, as against the base offer of 3 crore NCDs of face value of ₹1,000 each, the issue has received bids for 10.23 crore securities. The issue has a green shoe option to retain up to ₹9,000 crore of oversubscription.
The issue will close on June 4, or once the entire ₹12,000 crore is subscribed. The bonds are rated AAA by CARE and Brickwork Ratings, with a stable outlook.
The bonds, which would be allotted on first-come, first-served basis will have six series, with tenors of three, five, seven and 10 years and carry coupon rates of 8.56-9.1 per cent.
Shares of DHFL ended 1.1 per cent lower at ₹607.65 on the NSE.
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