Monday, January 10, 2022

Dhani announced the Public Issue of Secured Redeemable NCDs @11% p.a.

Dhani Loans and Services Limited (formerly known as Indiabulls Consumer Finance Limited) announced the Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs) on January 4, 2022 with an Effective Yield up to 11% p.a.*. 


Here's all the important information you need to know about this NCD.

Dhani Loans and Services Limited, a non-deposit taking systemically important NBFC registered with the RBI, announced the public issue of secured, redeemable, non-convertible debentures of the face value of Rs. 1,000 each. With a base issue size of Rs. 150 crores, the Issue opened on January 4, 2022 and closes on January 27, 2022 with an option of early closure or extension. The Issue has an option to retain oversubscription up to Rs 150 crores, aggregating up to Rs. 300 crores; allotment will be done on first -come- first-serve-basis. The NCDs are proposed to be listed on the Stock Exchanges with BSE Limited as the Designated Stock Exchange for the Issue. The NCDs have been rated IVR AA/ Stable Outlook by Infomerics Valuation and Rating Private Limited.

Click on the link to know more and Apply : https://bit.ly/31u6Jfy

What's the tenure?

The NCDs issued pursuant to the Issue have a tenure of 370 days, 24 months, and 36 months. Effective yield (per annum) for NCD holders for all categories is 10% for 370 days, 10.5% for 24 months and up to 11% for 36 months maturity. 

What's the frequency of interest payable?

Frequency of interest payments are Annually, Monthly or Cumulative as applicable to respective series. 

What's the amount on maturity?

Across all categories of Investors, the amount on maturity for NCD holders is Rs. 1101.44 in Series I, Rs. 1,000 in Series II, IV, V, VII, Rs. 1221.03 in Series III, and Rs. 1368.05 in Series VI.

Where will the raised amount be utilized?

Net proceeds of the Issue will be utilized for the purpose of onward lending, financing, and for repayment of principal and interest of existing borrowings of the Company (at least 75%) - and the rest (up to 25%) for general corporate purposes.

As per the Limited Review Financial Results, once the six months ended on September 30, 2021, Dhani Loans and Services Limited’s CRAR (capital adequacy ratio – Tier I capital) stood at 61.79% on a standalone basis. The terms of each series of NCDs, offered under the Issue are set out below:


Click on the link to know more and Apply : https://bit.ly/31u6Jfy

"This is our first public issue of secured redeemable NCDs since the company’s pivot towards a technology enabled transaction finance business. Over the past year, we have built a robust infrastructure to cater to the growing demand in the transaction finance market. We will use the capital raised to continue our growth momentum" said Pinank Shah, CEO, Dhani Loans & Services Limited

ISSUER DISCLAIMER

Dhani Loans and Services Limited, subject to market conditions and other considerations is proposing a public issue of secured, redeemable non-convertible debentures (“NCDs”) and has filed the Prospectus dated December 29, 2021 (“Prospectus”) with the Registrar of Companies, National Capital Territory of Delhi and Haryana, National Stock Exchange of India Limited, BSE Limited and SEBI.

The Prospectus dated December 29, 2021 is available on Company’s website www.dhaniloansandservices.com, on the website of the stock exchanges at www.nseindia.com and www.bseindia.com, on the website of SEBI at www.sebi.gov.in and the respective websites of the lead managers at www.edelweissfin.com and www.trustgroup.in.

Investors proposing to participate in the Issue, should invest only on the basis of the information contained in the Prospectus. Investors should note that investment in NCDs involves a high degree of risk and for details relating to the same, please refer to Prospectus, including the section on “Risk Factors” beginning on page 19 of the Prospectus. 

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