Nido Home Finance Limited, originally known as Edelweiss Housing Finance Limited, was founded in 2008. It operates as a non-deposit-taking housing finance company, providing customers with credit for a range of loan types. Nido Home Finance is a member of the Edelweiss Group, which is one of India’s premier diversified financial services organizations.
The company’s portfolio includes:
- Home Loans: Providing secured loans to salaried individuals, self-employed professionals, and others for purchasing, constructing, or renovating residential properties, with the loan secured by a mortgage on the property.
- Non-Housing Loans, including Loans Against Property (LAP): Providing loans to self-employed individuals using an unencumbered property as collateral. These loans can be used for various purposes, such as obtaining working capital, purchasing property, or other needs.
- Construction Loan: A loan facility designed for developers to finance the expenses of residential projects.
As of December 31, 2023, Nido operates 67 branches across 67 cities in India, supported by a workforce of 595 employees.
Nido Home Finance NCD IPO June 2024 Detail
| Issue Open | June 13, 2024 – June 17, 2024 |
| Security Name | Nido Home Finance Limited NCD IPO |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 50.00 Crores |
| Issue Size (Oversubscription) | Rs 50.00 Crores |
| Overall Issue Size | Rs 100.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | CRISIL A+/ Watch Negative |
| Tenor | 24, 36, 60 and 120 months |
| Series | Series I to X |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
NCD IPO Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 10% |
| HNI | 40% |
| Retail | 40% |
Nido Home Finance Limited NCD IPO Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | NA | Monthly | Annual | NA | Monthly | Annual | NA | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 9.50% | NA | 9.58% | 10.00% | NA | 10.03% | 10.50% | NA | 10.26% | 10.75% |
| Effective Yield (% per Annum) | 9.50% | 9.50% | 10.01% | 10.00% | 10.00% | 10.50% | 10.49% | 10.50% | 10.75% | 10.74% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,199.13 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,331.18 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,648.17 | Rs 1,000.00 | Rs 1,000.00 |
Nido Home Finance NCD IPO Rating
The NCDs proposed for issuance under this offering have been rated “CRISIL A+/Watch Negative (Placed on ‘Rating Watch with Negative Implications)” by CRISIL Ratings Limited for an amount of Rs 5,000 million.
Company Promoters
Edelweiss Financial Services Limited, Edelweiss Rural & Corporate Services Limited, and Edel Finance Company Limited are the promoters of the company.
Company Financials
Nido Home Finance Limited Financial Information (Restated)
Between the financial years ending March 31, 2023, and March 31, 2024, Nido Home Finance Limited saw a 4.73% increase in revenue and a 20.18% rise in profit after tax (PAT).
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 3,764.95 | 3,786.24 | 3,956.66 |
| Revenue | 465.71 | 444.69 | 513.91 |
| Profit After Tax | 19.31 | 16.06 | 13.81 |
| Net Worth | 814.79 | 794.47 | 777.63 |
| Amount in ₹ Crore | |||
Objects of the Issue
The company plans to utilize the funds raised from the issuance for the following purposes:
- For onward lending and financing, as well as for the repayment or prepayment of interest and principal on the company’s existing borrowings.
- For general corporate purposes.
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