11.00% NIDO Home Finance NCD

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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