12-Feb-2024
2 mins read
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Founded in 2008, Nido Home Finance Limited, initially known as Edelweiss Housing Finance Limited, operates as a non-deposit accepting housing finance entity. It is an integral part of the Edelweiss Group, a prominent and diverse financial services conglomerate in India. Nido Home Finance extends a variety of credit facilities to its clientele, encompassing a range of loan types. Its offerings include home loans for individuals, whether employed or self-employed, aimed at facilitating the buying, constructing, or renovating of residential properties, with the property itself serving as collateral. The company also provides non-housing loans, such as loans against property (LAP) for self-employed individuals, utilising clear property titles for purposes like working capital, property acquisition, or other financial needs. Additionally, Nido offers construction loans to developers, supporting the costs associated with the development of residential projects. By the end of December 2023, Nido Home Finance will have established a presence across India with 67 branches in as many cities as possible, backed by a dedicated workforce of 595 employees.
Financial Performance of Nido Home Finance Limited (In Rs Crore)
Between the fiscal year concluding on March 31, 2023, and the prior year ending March 31, 2022, Nido Home Finance Limited experienced a 13.47% decline in revenue while its profit after tax (PAT) witnessed a growth of 16.34%.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 3,786.24 | 3,956.66 | 4,931.10 |
| Revenue | 444.69 | 513.91 | 551.05 |
| Profit After Tax | 16.06 | 13.81 | 3.73 |
| Net Worth | 794.47 | 777.63 | 762.79 |
Important Details of Nido Home Finance NCD
| Issue Open | February 13, 2024 – February 26, 2024 |
| Security Name | Nido Home Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 50 Crores |
| Issue Size (Oversubscription) | Rs 50 Crores |
| Overall Issue Size | Rs 100 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | CRISIL A+/Stable by CRISIL Ratings Limited. |
| Tenor | 24, 36, 60 and 120 Months |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
Coupon rates for Nido Home Finance NCD
| # | 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 | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual | Cumulative | 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) | 9.50% | NA | 9.58% | 10.00% | NA | 10.03% | 10.50% | NA | 10.26% | 10.75% |
| Effective Yield (% per Annum) | 9.50% | 9.50% | 10.00% | 10.00% | 10.00% | 10.49% | 10.49% | 10.50% | 10.75% | 10.74% |
| Amount on Maturity (In Rs) | Rs 1,000.00 | Rs 1,199.13 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,331.18 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,648.27 | Rs 1,000.00 | Rs 1,000.00 |
NCD Allocation Ratio for Nido Home Finance
| Category | NCD’s Allocated |
| Institutional | 10% |
| Non-Institutional | 10% |
| HNI | 40% |
| Retail | 40% |
NCD Rating of Nido Home Finance NCD
This issuance’s proposed Non-Convertible Debentures (NCDs) have received a “CRISIL A+/Stable” rating from CRISIL Ratings Limited for a total sum of Rs 5,000 million.
Company Promoters of Nido Home Finance NCD
The promoters of the company are Edelweiss Financial Services Limited, Edelweiss Rural & Corporate Services Limited, and Edel Finance Company Limited.
The Objective of the Nido Home Finance NCD
The company aims to allocate the proceeds from this issuance towards advancing loans, financing activities, and the repayment or prepayment of the principal and interest on its current debts. Additionally, a portion of the funds will be directed towards general corporate objectives.
Lead Managers for Nido Home Finance NCD
The lead managers of the Nido Home Finance NCD are Tipsons Consultancy Services Private Limited and Nuvama Wealth Management Limited.
How to Apply for Nido Home Finance NCD
Wait for the NCD to open for subscription, then click here to apply for the Nido Home Finance NCD with Bigul.
How to Check the Allotment Status of Nido Home Finance NCD
The Nido Home Finance NCD registrar is Kfin Technologies Limited. Click here to check your allotment status.
FAQs
- What is the product portfolio of Nido Home Finance Limited?
Nido Home Finance Limited, established in 2008 and previously known as Edelweiss Housing Finance Limited, is a part of the Edelweiss Group. It operates as a non-deposit taking housing finance company in India, offering a variety of loan products including home loans, non-housing loans, and construction loans to individuals and developers.
- What are the key financial figures for Nido Home Finance Limited as of March 31, 2023?
As of March 31, 2023, Nido Home Finance Limited reported assets totaling Rs 3,786.24 crore, a revenue of Rs 444.69 crore, and a profit after tax (PAT) of Rs 16.06 crore. The company’s net worth stood at Rs 794.47 crore.
- What are the details of the Nido Home Finance NCD issue?
The Nido Home Finance NCD issue opens on February 13, 2024, and closes on February 26, 2024. It involves secured, redeemable, non-convertible debentures with a base issue size of Rs 50 crores and an oversubscription option of another Rs 50 crores, totaling Rs 100 crores. The debentures are priced at Rs 1000 each, with a minimum lot size of 10 NCDs and are to be listed on the BSE.
- What are the coupon rates for the Nido Home Finance NCD?
The Nido Home Finance NCD offers various coupon rates ranging from 9.50% to 10.75% per annum, depending on the series and tenor, which vary from 24 months to 120 months. Interest payment frequencies include annual, cumulative, and monthly options.
- How is the NCD allocated among different investor categories?
The NCD allocation is divided as follows: 10% to institutional investors, 10% to non-institutional investors, 40% to high-net-worth individuals (HNIs), and 40% to retail investors.
- What is the credit rating of the Nido Home Finance NCD?
The NCDs have been rated “CRISIL A+/Stable” by CRISIL Ratings Limited for an amount of Rs 5,000 million, indicating a stable outlook.
- Who are the company promoters?
The promoters of Nido Home Finance Limited are Edelweiss Financial Services Limited, Edelweiss Rural & Corporate Services Limited, and Edel Finance Company Limited.
- What is the objective of the Nido Home Finance NCD issue?
The company intends to use the funds raised from the NCD issue for onward lending, financing, repayment/prepayment of existing borrowings, and for general corporate purposes.
- Who are the lead managers for the Nido Home Finance NCD?
The lead managers for the NCD issue are Tipsons Consultancy Services Private Limited and Nuvama Wealth Management Limited.
- How can one apply for the Nido Home Finance NCD?
Wait for the NCD to open for subscription, then click here to apply for the Nido Home Finance NCD with Bigul.
- How to check the allotment status of the Nido Home Finance NCD?
The Nido Home Finance NCD registrar is Kfin Technologies Limited. Click here to check your allotment status.