National Housing Bank intends to raise up to Rs 2,000 crore through bonds on March 7, as per market sources. The issuance comprises a base issue size of Rs 500 crore along with a greenshoe option of Rs 1,500 crore.
A greenshoe option allows the underwriter to sell additional bonds to investors beyond the initial offering size if there is higher demand than anticipated.
Bidding for the bonds will occur on March 7 from 11 am to 12:30 pm on the electronic bidding platform of the National Stock Exchange of India.
These bonds will mature on April 26, 2027, which is three years, one month, and 15 days from the date of issuance. Additionally, they feature a put or call option after one year and six days, i.e., on March 17, 2025.
The minimum application size for the bonds is Rs 1 lakh, with subsequent multiples of Rs 1 lakh.
The bonds have been assigned a ‘AAA’ rating with a ‘Stable’ outlook by CARE Ratings.
In related news on March 5, Mahanagar Telephone Nigam Ltd, Aye Finance, Vistaar Financial Services Pvt Ltd, ICICI Home Finance, SMFG India Credit Company, and Piramal Capital and Housing Finance collectively raised funds amounting to Rs 1,345.99 crore through bond issuances.
Mahanagar Telephone Nigam Ltd raised Rs 555.99 crore via 10-year government of India guaranteed bonds at a coupon rate of 7.51 percent.
