
According to sources familiar with the matter, the National Housing Bank (NHB) intends to raise up to Rs 3,000 crore by issuing bonds. The bonds are set to have a maturity period of 3 years, 2 months, and 20 days.
Bond Details and Bidding Process
The bonds will have a base issue size of Rs 1,000 crore, with an additional greenshoe option of Rs 2,000 crore. A greenshoe option allows the underwriter to sell more bonds to investors than originally planned, should there be higher-than-expected demand.
The bidding for these bonds is scheduled to take place on April 12, between 11 am and 12:30 pm, on the electronic bidding platform of the National Stock Exchange of India.
Pay-in Date and Bond Rating
The pay-in date for these bonds is set for April 16. On this date, the exchange of money and bonds will occur between the issuers (NHB) and the investors.
These bonds have been given a ‘AAA’ rating with a ‘stable’ outlook by CRISIL, a renowned credit rating agency.
Key Details and Application Size
The minimum application size for these bonds is set at Rs 1 lakh, and subsequent applications must be made in multiples of Rs 1 lakh thereafter.
Recent Bond Issuance
In related news, on April 8, HDB Financial Services successfully raised Rs 500 crore through the issuance of bonds. It is worth noting that money markets were closed on April 9 due to the observance of Gudhi Padwa.