Home / Companies / News /  Dhani Services to launch 300 cr public issue of bonds on Tuesday
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Dhani Services, formerly Indiabulls Ventures, will launch its 300 crore fundraise programme through a public issue of bonds on Tuesday.

The non-convertible debenture (NCD) issue has a base size of 150 crore with an option to retain oversubscription of up to 150 crore, aggregating to 300 crore.

Dhani Loans and Services announces the public issue of secured, redeemable, NCDs of face value of 1,000 each, it said in a release on Monday.

The issue opens on January 4, 2022 and closes on January 27, 2022 with an option of early closure or extension.

"Net proceeds of the issue will be utilized for the purpose of onward lending, financing, and for repayment of principal and interest of existing borrowings of the company (at least 75%) - and the rest (up to 25%) for general corporate purposes," Dhani said.

The NCDs will have a tenure of 370 days, 24 months and 36 months.

The effective yield for the bond holders for all categories is 10 per cent for 370 days, 10.5% for 24 months and up to 11% for 36 months maturity.

The NCDs, proposed to be listed on BSE, have been rated IVR AA/stable outlook by Infomerics Valuation and Rating.

Dhani Services stock closed at 161.55 on BSE, down by 2.12% from previous close.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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