Non-Convertible Debentures
Real estate firm VGN Developers Pvt. Ltd is looking to raise Rs.400 crore from private equity funds to refinance debts. Two bankers familiar with the development mentioned that they are in talks with large private equity funds to raise the capital. The re-financing option is good for them as the money will be used to retire [...] Continue Reading »
The real estate sector which was reeling under the pressure of cash crunch in the last few years has come up with many financial instruments to raise funds. The real estate firms that, otherwise, might not have attracted a strong rating, have managed to pick up around Rs 1,240 crore at a lower cost. This [...] Continue Reading »
India’s largest realty firm DLF has sought shareholders’ approval to raise up to Rs 5,000 crore through private placement of non-convertible debentures. DLF informed during a filing to the BSE (Bombay Stock Exchange) that the shareholders’ nod has been sought through a postal ballot. This approval is sought for reducing the borrowing power of the [...] Continue Reading »
An amount of Rs 400 crore will be raised by Ansal Properties and Infrastructure Ltd from Peninsula Brookfield Investment Managers, which is a joint venture company of Peninsula Land Ltd and Brookfield Asset management. The money will apparently be raised by Ansal properties as structured debt via the non-convertible debenture (NCD) route. With Peninsula Brookfield [...] Continue Reading »
DLF’s subsidiary, DLF Emporio has raised Rs 525 crore through India’s first commercial mortgage backed security (CMBS) issue, a new way for Indian real estate developers to raise funds. In a CMBS issue, a company raises money upfront by issuing non-convertible debentures (NCDs) to investors. The company pays off the principal at the end of [...] Continue Reading »
The issuance of unsecured redeemable non-convertible debentures by India Infoline Housing Finance Limited (IIFL), which is the housing finance subsidiary of IIFL Holdings Limited, has been oversubscribed 2.24 times of the base issue. As per the stock exchange data the total collection was Rs 224.5 crore which is 2.24 times of the base issue. The [...] Continue Reading »
The India Infoline Ltd’s (IIFL) non-banking financial company and some of its wealthy clients have together invested Rs 150 Crore in a 500-acre Navi Mumbai township project of property developer Wadhwa Group. IIFL has purchased non-convertible debentures (NCD) from Wadhwa Group for the project, after three years of signing agreement with the Gulf Finance House [...] Continue Reading »
Fund collected by Indian companies through retail issues of non-convertible debentures has increased over two times during current financial year. A collective amount of Rs 16,982 crore was gathered by 15 firms through their NCDs in the entire 2012-13 fiscal. NCDs are loan-linked bonds which are issued by a company that cannot be changed in [...] Continue Reading »
Famed realty developer, the Lodha group has repaid the debt it took in early 2012. The debt was taken by issuing Non-Convertible Debentures (NCDs) in the early 2012. Many retail investors and large institutions including Citigroup, Kotak Mahindra Bank and Deutsche Bank formed a consortium to invest in these privately-placed debentures. Abhinandan Lodha, deputy Managing [...] Continue Reading »
