Diwan Housing Finance is aiming to raise upto Rs: 10000/- Crores and will offer as much as 9.25% interest for retail Bonds, which are going to open for subscription from 29th August,2016. 3years bonds will earn 9.10%; Five Year Bonds 9.15% and 7Yrs Bonds will earn 9.25% interest.
Even a person in the highest tax bracket of 30% would net earn about 6.50% for seven years, which is better than bank fixed deposits. The bonds will be listed in stock exchanges for secondary market trading.
|Opening & Closing||Opening for sale on 29th Aug,2016.
Closing on Monday 12th Sept,2016.
|Face-Value||Rs: 1000/ each NCD|
|Minimum Application Size||Rs: 10000/- (10 NCDs)|
|Credit Rating||‘AAA’ by CARE|
|Registrar||Karvy Computershare Pvt Ltd|
|Listing on||BSE & NSE|
|Issuance of NCD||Either in physical mode or Dematerialized|
|Category I & II||9.05%||9.05%||9.05%|
|Category III & IV||9.10%||9.15%||9.25%|
Our View: – The Bonds look exciting because of falling F.D. rates.