DLF Home Developers plans to raise Rs 600 crore via bonds
DLF Home Developers has scheduled the bidding date for March 26, inviting commitment bids from potential investors.
- Republic Business
- 1 min read
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DLF's bond issue: DLF Home Developers plans to raise 600 crore ($72.35 million) through the issuance of bonds with a maturity period of three years and one month. Three merchant bankers familiar with the matter confirmed this to Reuters.
The decision to tap into the bond market comes amidst efforts by DLF Home Developers to strengthen its financial position and support its growth initiatives. The bonds, carrying an annual coupon rate of 8.50 per cent, are aimed at attracting investors seeking stable returns.
DLF Home Developers has scheduled the bidding date for March 26, inviting commitment bids from potential investors.
Meanwhile, Cholamandalam Investment, another player, revealed its plan to issue bonds with a tenure of 10 years. The company aims to raise an initial sum of Rs150 crore, with a provision to increase the total issue size to Rs 300 crore through a greenshoe option.
Cholamandalam Investment's bonds will offer investors an annual coupon rate of 8.85 per cent. The issuance is set for March 19.
DLF Home Developers' issuance has been rated AA by ICRA, while Cholamandalam Investment's bonds have been assigned a rating of AA+ by both ICRA and India Ratings.
(With Reuters Inputs)