Dewan Housing Finance (DHFL) to raise approx Rs.1,300 crore, by selling rupee-denominated bonds overseas.

The issue opens for subscription on Wednesday, in London with an initial price guidance of 8.95%. The bond is unrated. The company is planning to raise up to Rs.13,000 crore over a period of time in different tranches this year, as the company has filed a Euro Medium Term Note (EMTN) programme mentioning the ballpark figure.

Moreover, this is the first ever bond sale by any mid-market Indian private company in the 5 year category, after the local banking regulator relaxed rules for the masala bonds.

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