PNB Housing Finance Limited has announced the allotment of 40,000 listed, secured, rated, taxable, redeemable Non-Convertible Debentures (NCDs) with a face value of ₹1,00,000 each, aggregating to ₹400 crore, through private placement on July 23, 2025. These NCDs, part of the 2030 Series LXX, carry a coupon rate of 7.4342% and are set to mature on July 23, 2030.
| Particulars | Details |
|---|---|
| Issue Size | ₹400 Crore |
| Instrument | Listed, Secured, Rated, Taxable, Redeemable Non-Convertible Debentures |
| Face Value | ₹1,00,000 per NCD |
| Series | 2030 Series LXX |
| Listing | Wholesale Debt Market (WDM) Segment of NSE |
| Tenure | 5 Years |
| Date of Allotment | July 23, 2025 |
| Date of Maturity | July 23, 2030 |
| Coupon/Interest Rate | 7.4342% |
| Interest Payment Schedule | July 23 of each year from 2026 to 2029 |
| Principal Payment | July 23, 2030 |
Detailed Analysis
The NCDs are secured by an exclusive charge on specific book debts of the company, ensuring a minimum security coverage of 1 time. In the event of a delay in interest or principal payments beyond three months from the due date, or any default in payment, an additional interest of 2% per annum will be levied on the outstanding amount for the defaulting period.
Additional Context
The allotment was approved by the Management Committee for allotment of NCDs, as authorized by the Board of Directors of PNB Housing Finance Limited. The company has confirmed that there are no special rights or privileges attached to these debentures beyond the standard terms.
Market Impact
This issuance allows PNB Housing Finance to raise substantial capital through debt markets, which can be used to fund its operational activities and growth initiatives. The listed status of these NCDs on the NSE provides liquidity for investors.
