Nido Home Finance Limited (formerly known as Edelweiss Housing Finance Limited), a part of the Edelweiss Group, is a Housing Finance Company that has been providing access to credit to customers for various kinds of loans since 2010. Nido Home Finance (NHFL) is 100% subsidiary of EFSL.
Edelweiss Group at a glance
- Net worth : ~INR 6,046 cr
- liquidity : ~ INR 3,300 cr
- Q3FY24 PAT(Ex-Insurance): INR 153 cr
Business model – focused on affordable housing:
- What: Small ticket home loans with an avg. loan size of ~25 lacs
- Where: In BHARAT - tier 2 & 3 towns with high margins
- How: Co lending with SBI and SCB. Asset light model
Growth in co-lending - 80% book is under co lending model with Banks like SBI, BOB and SCB etc. Strong backing and credit lines at subsidized rates from marquee PSU banks and financial institutions like
- SBI – 250 cr
- IOB – 75 cr
- National housing board (NHB) – 25 cr
External validation of loan quality via securitization and co-lending. Strong collateral (house property assets) and high recovery visibility due to SARFAESI act.
Key Financials:
- Collection efficiency for the quarter at 98.7%
- GNPA at 2.24%
- Net NPA is 1.61%
- The NIM is in the range of 4%
| Title | Details |
| Issue opens | Wednesday, September 18, 2024 |
| Issue closes | Tuesday, October 01, 2024 |
| Allotment | First Come First Serve Basis |
| Face Value | Rs.1,000 per NCD |
| Issue Price | Rs.1,000 per NCD |
| Nature of Instrument | Secured Redeemable Non-Convertible Debentures |
| Minimum Application | 10 NCDs (Rs.10, 000) & in multiple of 1 NCD thereafter |
| Tenure | 24, 36, 60, and 120 Months |
| Interest Payment frequency | Monthly, Annually, and Cummulative |
| Listing | BSE |
| Rating | CRISIL A+/ Watch Negative |
Yield (p.a.)
See the tables below for effective yields for various terms:
Monthly Interest Payment Frequency
| Tenure | 36 | 60 | 120 |
| Coupon | 9.58% | 10.03% | 10.49% |
| Effective Yield | 10.01% | 10.50% | 11.00%% |
Yearly Interest Payment Frequency
| Tenure | 24 | 36 | 60 | 120 |
| Coupon | 9.50% | 10.00% | 10.50% | 11.00% |
| Effective Yield | 9.50% | 10.00% | 10.50% | 10.99% |
Cumulative Payment
| Tenure | 24 | 36 | 60 |
| Effective Yield | 9.50% | 10.00% | 10.50% |
Staggered Redemption
This NCD has a staggered redemption feature for investment of 60 and 120 months. In Staggered Redemption, the principal amount of the bond is repaid in multiple installments over a specified period, rather than in a single lump sum at maturity. This is in contrast to a bullet redemption, where the entire principal is repaid at maturity.
Staggered Redemption for 60 months (5 years) NCD
Starting from the fourth year of your investment, one-half of your original investment will be returned to you. This means for every ₹1,000 you invested, you’ll receive ₹500 each year beginning in the fourth year till 5th year.
Staggered Redemption for 120 months (10 years) NCD
Starting from the fourth year of your investment, one-fifth of your original investment will be returned to you. This means for every ₹1,000 you invested, you’ll receive ₹200 each year beginning in the fifth year till 9th year.
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