Bajaj Housing Finance Limited (BAJAJHFL) has announced the allotment of 55,000 secured, redeemable non-convertible debentures (NCDs) on a private placement basis. The total value of these NCDs stands at ₹550 crore.
These NCDs carry an interest rate of 7.56% per annum, which will be paid both annually and upon maturity. The maturity period for the NCDs is set to end on October 4, 2034. Additionally, the debentures will be listed on the Wholesale Debt Market Segment of BSE Limited.
The issuance of NCDs is a financial strategy often adopted by companies to raise capital, and this move is expected to help BAJAJHFL in its funding requirements. The terms of the interest rate and the maturity period are indicative of a secure, long-term investment option for the company and its investors.