Mumbai, June 19 -- The housing finance company announced plans to issue up to 20,000 senior, secured, rated, listed, and redeemable Non-Convertible Debentures (NCDs), each with a face value of Rs 100,000.

The company added that the debentures will have tenure of 60 months and are set to be listed on the Wholesale Debt Market (WDM) segment of the BSE.

Interest on the NCDs will be paid quarterly, while the principal will be repaid in 20 equal quarterly instalments of Rs 5,000 per debenture. The debentures will be secured by a first-ranking exclusive charge over the company's identified loan receivables, ensuring coverage of at least 110% of the principal and interest payable.

The issuance follows shareholder approval granted at the compa...