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Reliance Home Finance announced its maiden public issue offering Secured Redeemable Non-Convertible Debentures (Secured NCDs) and Unsecured Redeemable Non-Convertible Debentures (Unsecured NCDs).
The Company proposes to raise Rs 1000 crore (USD 14.7 million), as base issue size, by offering secured NCDs and unsecured NCDs at a face value of Rs 1000 each. The unsecured NCDs will be in the nature of subordinated debt and will be eligible for inclusion as Upper Tier II Capital.
The NCDs will be issued in one or more tranches up to the shelf limit, on terms and conditions as set out in the Tranche 1 Prospectus.
The Company will used the amount for the purpose of lending, financing, and for repayment of interest and principle of existing borrowings and for general corporate purposes.
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