Attractive interest rate of up to 9.75% per annum*
Mumbai, September 10, 2018: Aadhar Housing Finance Limited (the “Company”), a deposit taking housing finance company registered with the NHB and focused on providing affordable housing financing products for the EWS and LIG segment in India, in tier 2 to tier 4 cities and towns, proposes to open public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of face value of Rs. 1,000 on September 14, 2018, 1,40,00,000 for an amount of Rs. 50,000 lakhs (“Base Issue Size”) with an option to retain oversubscription up to Rs. 90,000 lakhs aggregating up to Rs. 1,40,000 lakhs (“Tranche 1 Issue Limit”) (“Tranche 1 Issue”).
The Issue is scheduled to close on September 28, 2018 with an option of early closure or extension as decided by the Board of Directors of the Company (“Board”) or the Working Committee.
Ratings by CARE Ratings & Brickwork Ratings India: Outlook: Stable
The NCDs proposed to be issued under this Issue have been rated ‘CARE AA+ (SO) ((Pronounced as CARE Double A Plus Structured Obligation); Outlook: Stable)’ for an amount of `3,00,000 lakhs, by CARE Ratings Limited (“CARE”) and ‘BWR AA+ (SO) (Pronounced as BWR Doub le A Plus (Structured Obligation)), Outlook: Stable (for an amount of `3,00,000 lakhs, by Brickwork Ratings India Private Limited (“Brickwork”) The rating of CARE AA+ (SO); Outlook: Stable by CARE and BWR AA+ (SO), Outlook: Stable by Brickwork indicate that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
Allotment is on a first-come-first-serve basis.
Tenure 3 years (Category I, II, III and IV)
Series I: Frequency of Interest Payment “NA”. Coupon Rate: “NA”. Effective Yield: 9.60%.
Series II: Frequency of Interest Payment Annual. Coupon Rate: 9.60%. Effective Yield: 9.59%.
Tenure 5 years (Category I, II, III and IV)
Series III: Frequency of Interest Payment Monthly. Coupon Rate: 9.25%. Effective Yield: 9.65%.
Series IV: Frequency of Interest Payment Annual. Coupon Rate: 9.65%. Effective Yield: 9.64%.
Tenure 10 years (Category I, II, III and IV)
Series V: Frequency of Interest Payment Monthly. Coupon Rate: 9.35%. Effective Yield: 9.75%.
Series VI: Frequency of Interest Payment Annual. Coupon Rate: 9.75%. Effective Yield: 9.74%.
[Category IV] Investors (Retail Individual Investors) are defined as Resident Indian Individuals and Hindu Undivided Families through the Karta applying for an amount aggregating up to and including Rs. 10,00,000 across all options of NCDs in the Tranche I Issue.
At least 75% of the net proceeds of the Public Issue of NCDs will be used for the For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company. A maximum of up to 25% will be used for general corporate purposes.
The NCDs offered through the Shelf Prospectus and the Tranche I Prospectus are proposed to be listed on BSE Limited (“BSE”). BSE Is the Designated Stock Exchange.
The Lead Managers to the Issue are YES Securities (India) Limited, Edelweiss Financial Services Limited, YES Bank Limited, Axis Bank Limited, A. K. Capital Services Limited, Green Bridge Capital Advisory Private Limited and Trust Investment Advisors Private Limited.
DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE should not in any way be deemed or construed that the Prospectus has been cleared or approved by BSE nor does it certify the correctness or completeness of any of the contents of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the Disclaimer Clause of BSE.
DISCLAIMER CLAUSE OF USE OF BSE ELECTRONIC PLATFORM: It is to be distinctly understood that the permission given by BSE to use their network and software of the Online system should not in any way be deemed or construed that the compliance with various statutory requirements approved by the Exchange; nor does it in any manner warrant, certify or endorse the correctness or completeness of any of the compliance with the statutory and other requirements nor does it take any responsibility for the financial or other soundness of the Company, its promoters, its management or any scheme or project of the Company.
It is also to be distinctly understood that the approval given by BSE is only to use the software for participating in system of making application process.
DISCLAIMER CLAUSE OF THE NHB: The company is having a valid certificate of registration dated July 31, 2001 issued by the National Housing Bank under Section 29A of the National Housing Bank Act, 1987. However, the NHB does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the Company and for repayment of deposits/discharge of liabilities by the Company.
Disclaimer clause of CARE: CARE’s ratings are opinions on credit quality and are not recommendations to sanction, renew, disburse or recall the concerned bank facilities or to buy, sell or hold any security. CARE has based its ratings/outlooks on information obtained from sources believed by it to be accurate and reliable. CARE does not, however, guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Most entities whose bank facilities/instruments are rated by CARE have paid a credit rating fee, based on the amount and type of bank facilities/instruments.
Disclaimer clause of Brickwork: Brickwork Ratings (BWR) has assigned the ratings based on the information obtained from the issuer and other reliable sources, which are deemed to be accurate. BWR has taken adequate steps to avoid data distortion; however it does not examine the precision or completeness of the information obtained. And hence, the information in this report is presented “as is” without any implied and express warranty of any kind. BWR does not make any representation in respect of the truth or accuracy of any such information. The rating assigned by BWR should be treated as opinion rather than recommendation to buy, sell or hold the rated instruments and BWR shall not be liable for any losses incurred by the users from any use of this report or contents. BWR has the right to change, suspend or withdraw ratings at any time for any reasons.
In case of partnerships/proprietary concerns, the rating/outlook assigned by CARE is based on the capital deployed by the partners/proprietor and the financial strength of the firm at present. The rating/outlook may undergo change in case of withdrawal of capital or the unsecured loans brought in by the partners/proprietor in addition to the financial performance and other relevant factors.
Disclaimer: Aadhar Housing Finance Limited, subject to market conditions and other considerations, is proposing a public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) and has filed the Shelf Prospectus dated September 3, 2018 and Tranche I Prospectus dated September 3, 2018 with the Registrar of Companies, Karnataka at Bengaluru, BSE Limited and SEBI. The Shelf Prospectus dated September 3, 2018 and Tranche I Prospectus dated September 3, 2018 are available on our website at www.aadharhousing.com, on the website of the stock exchange at www.bseindia.com and the respective websites of the Lead Managers at www.yesinvest.in, www.edelweissfin.com, www.yesbank.in, www.axisbank.com,www.akgroup.co.in, www.greenbridge.in and www.trustgroup.in. Investors proposing to participate in the Issue should invest only on the basis of information contained in the Shelf Prospectus dated September 3, 2018 and Tranche I Prospectus dated September 3, 2018. Investors should note that investment in NCDs involves a high degree of risk and for details relating to the same, please refer to the Shelf Prospectus dated September 3, 2018, including the section ‘Risk Factors’ beginning on page 11 of the said Shelf Prospectus.
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