DHFL gets ?10,000 cr on Day 1, post NCD issue

Dewan Housing Finance Corporation (DHFL) ?12,000-crore NCD (non-convertible debentures) issue received a strong demand on it’s opening day with the base size of ?3,000 crore subscribed fully. Housing finance company DHFL Ltd garnered subscriptions of over Rs 10,234 crore. The company on Monday, said that the issue which is to close on June 4 can be pre-closed if the issue is fully subscribed before that.Also the bonds, which would be allotted on first-come, first-served basis will have six series, with tenors of three, five, seven and 10 years and carry coupon rates of 8.56-9.1 per cent. DHFL will use 75 percent of the proceeds raised from the issue for sub-lending and business growth, while the rest is slated to be used for general corporate purpose of DHFL.