Tata Capital Housing Finance aims to raise up to Rs 2,000 crore through NCDs

Tata Capital Housing Finance said that it is planning to raise up to Rs 2,000 crore through non-convertible debentures. The base size of the issue is of Rs 500 crore with an option to retain an oversubscription up to Rs 1,500 crore. The company is offering four bonds maturing in three, five, eight and 10 years, with coupon ranging between 7.92% to 8.70%.

The bonds are giving a monthly and annual interest payment options to the subscribers. Around 75% of the fund raised through these bonds will be used for on lending, financing, repayment/ payment of debt and the balance for general corporate purposes.

“With a sharper focus on the affordable housing segment, we will seek growth opportunities in tier-II and III markets. We will continue to grow profitably,” Tata Capital Housing Finance MD Anil Kaul said.