Mortgage firm, Dewan Housing Finance Corporation (DHFL) plans to raise Rs 10,000 crore from non-convertible debentures (NCDs) to fund business growth. The NCD issue of face value of Rs 1,000 each with a base issue size of Rs 2,000 crore and an option to retain oversubscription of up to Rs 8,000 crore aggregating up to Rs 10,000 crore opens on August 29.

The issue will have tenor of 7-year with annual frequency of interest payment. The interest rate on proposed NCDs will vary between 9.05% - 9.25%. Retail individual investors and High Net worth Individuals (HNIs) have a combined allocation ratio of 60%. Interest on application money is at 8% and interest on refunded money is at 6%.

Dewan Housing Finance Corporation is among the oldest private sector Housing Finance Companies (HFC) in India.