26-Oct-2023
2 mins read
Nido Home Finance Limited (formerly known as Edelweiss Housing Finance Limited) is a Housing Finance Company offering its Non- Non-Convertible Debentures for subscription on Wednesday, 30 Aug 2023. The company is conducting a public issue of 1,500,000 secured, redeemable, non-convertible debentures (NCDs) with a face value of Rs 1,000 each, totalling Rs 75 Crores million. There is an option to increase the issue size by an additional Rs 75 Crores, making the total issue size up to Rs 1,500 million (“Limit”). This issuance follows the guidelines outlined in the SEBI NCS Regulations, the Companies Act of 2013, and related amendments. It’s important to note that the issue is not underwritten.
Nido Home Finance Limited Company Profile
Established in 2010, Nido Home Finance Limited, previously known as Edelweiss Housing Finance Limited, operates as a Housing Finance Company with a focus on providing credit access to customers for a variety of loan needs. The company’s diverse portfolio encompasses:
- Home Loans,
- Loans against Property (LAP),
- Home Improvement Loans,
- Plot + Self-Construction Loans
- Balance Transfer of existing loans from other banks/HFCs/NBFCs.
As of June 30, 2023, Nido Home Finance operates through 67 offices in 67 cities across India. The company’s operations are facilitated by a workforce of 598 employees as of the same date.
Financial Performance of Nido Home Finance Limited (In Rs Crore)
| Period Ended | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 4,931.10 | 3,956.66 | 3,786.24 |
| Revenue | 551.05 | 513.91 | 444.69 |
| Profit After Tax | 3.73 | 13.81 | 16.06 |
| Net Worth | 762.79 | 777.63 | 794.47 |
Important details of Nido Home Finance Limited
| Issue Open | Aug 30, 2023 – Sep 12, 2023, |
| Security Name | Nido Home Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Shelf) | Rs 150.00 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 AA-/Negative & [ICRA] A+ (Stable) |
| Tenor | 24, 36, 60 and 120 months |
| Series | Series I to X |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
Nido Home Finance NCD Allocation Ratio
| Category | NCD’s Allocated |
| Institutional | 10% |
| Non-Institutional | 10% |
| HNI | 40% |
| Retail | 40% |
Nido Home Finance NCD Rating
The proposed NCDs for the issuance have received a rating of “CRISIL AA-/Negative” (spoken as CRISIL double A minus with a negative outlook) for an ₹1,500 million sum from CRISIL Ratings Limited. Additionally, they have been rated as “[ICRA] A+ (Stable)” for an amount of ₹1,500 million by ICRA Limited.
Nido Home Finance Limited Company Promoters
The company promoters are Edelweiss Financial Services Limited, Edelweiss Rural & Corporate Services Limited, and Edel Finance Company Limited.
The Objective of Nido Home Finance Limited NCD August 2023
The net proceeds from the issuance are planned to be used by the company for the following purposes:
- Onward lending and financing, as well as for repaying or prepaying interest and principal on existing company borrowings.
- General corporate purposes.
Lead Managers of Nido Home Finance Limited
The lead managers of Nido Home Finance Limited are Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited and Tipsons Consultancy Services Private Limited.
How to Apply for Nido Home Finance Limited?
Wait for the public issue to open for subscription, then click on this link to apply for Nido Home Finance Limited with Bigul: https://ipo.bonanzaonline.com/.
Who is the registrar of the Nido Home Finance Limited NCD?
Kfin Technologies Limited is the registrar of the Nido Home Finance Limited NCD.
FAQ –
Q1: When is the subscription period for Nido Home Finance NCDs?
The subscription period for Nido Home Finance NCDs is from August 30, 2023, to September 12, 2023.
Q2: What is the issue size of Nido Home Finance NCDs?
The base issue size of Nido Home Finance NCDs is Rs 75.00 Crores, with an option to increase the issue size by an additional Rs 75 Crores, making the total issue size up to Rs 1,500 million.
Q3: What is the face value of each NCD?
The face value of each NCD is Rs 1,000.
Q4: What are the available tenors for Nido Home Finance NCDs?
The available tenors for Nido Home Finance NCDs are 24, 36, 60, and 120 months.
Q5: What are the payment frequency options for Nido Home Finance NCDs?
The payment frequency options for Nido Home Finance NCDs are monthly and annually.
Q6: How will the NCD allocation be divided among different investor categories?
The NCD allocation will be divided as follows:
Institutional: 10%
Non-Institutional: 10%
HNI (High Net Worth Individuals): 40%
Retail: 40%
Q7: What are the credit ratings assigned to Nido Home Finance NCDs?
The NCDs have been rated as “CRISIL AA-/Negative” by CRISIL Ratings Limited and “[ICRA] A+ (Stable)” by ICRA Limited.
Q8: Who are the lead managers of Nido Home Finance NCDs?
The lead managers of Nido Home Finance NCDs are Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited, and Tipsons Consultancy Services Private Limited.
Q9: How can I apply for Nido Home Finance NCDs?
To apply for Nido Home Finance NCDs, wait for the public issue to open for subscription, then visit the provided link: https://ipo.bonanzaonline.com/.
Q10: What are the key objects of the NCD issuance?
The key objects of the NCD issuance include using the funds for onward lending and financing, as well as for repaying or prepaying interest and principal on existing company borrowings. The funds will also be used for general corporate purposes.
Q11: Who are the promoters of Nido Home Finance Limited?
The company promoters are Edelweiss Financial Services Limited, Edelweiss Rural & Corporate Services Limited, and Edel Finance Company Limited.