Nido Home Finance, formerly known as Edelweiss Housing Finance has launched a public issue of non-convertible debentures of up to Rs 150 crore.
The company will issue debentures worth up to Rs 75 crore. It comes with a greenshoe option of up to Rs 75 crore. The face value of these debentures is Rs 1,000 each.
The Issue is scheduled to open on August 30, and will close on September 12.
At least 75% of the funds raised through this Issue will be used for onward lending, financing and repayment, and prepayment of interest and principal of existing borrowings of the company, the non-banking financial company said in a press release on Tuesday.
The balance is proposed to be utilized for general corporate purposes.
The company will also provide an additional incentive of 0.20% per annum for all category of investors in the proposed Issue who are also holders of non-convertible debentures, and bonds previously issued by the company, ECL Finance, and Edelweiss Financial Services.