[.]| Listing at BSE, NSE | Tue, Jan 4, 2022 - Thu, Jan 27, 2022
Dhani Loans & Services Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹150.00 Cr with a base issue size of ₹150.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Dhani Loans & Services Ltd. NCD issue opens on Jan 4, 2022 and closes on Jan 27, 2022. NCD are proposed to be listed on NSE and BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from per annum to per annum, depending on the series and tenure selected.
The NCD has been rated: .
Edelweiss Financial Services Ltd. is the Lead Manager to the issue, is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
| Series | I | **II | III | IV | V | VI | VII |
| Frequency of Interest Payment | Cumulative | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly |
| Minimum Application | Rs 10,000 (10 NCDs) across all Series | ||||||
| Face Value/ Issue Price of NCDs (Rs/ NCD) | Rs 1,000 | ||||||
| In Multiples of thereafter (Rs) | Rs 1,000 (1 NCD) | ||||||
| Type of Instrument | Secured NCDs | ||||||
| Tenor | 370 Days | 24 months | 24 months | 24 months | 36 months | 36 months | 36 months |
| Coupon (% per annum) | NA | 10.50% | NA | 10.03% | 11.00% | NA | 10.49% |
| Effective Yield (%) (per annum) | 10.00% | 10.50% | 10.50% | 10.50% | 10.99% | 11.00% | 11.00% |
| Mode of Interest Payment/Redemption | Through various modes available | ||||||
| Amount (Rs / NCD) on Maturity | 1,101.44 | 1,000 | 1,221.03 | 1,000 | 1,000 | 1,368.05 | 1,000 |
| Maturity / Redemption Date (Years from the Deemed Date of Allotment) | 370 Days | 24 months | 24 months | 24 months | 36 months | 36 months | 36 months |
| Put and Call Option | Not Applicable | ||||||
| **The company shall allocate and allot series II NCDs wherein the applicants have not indicated the choice of the relevant NCD Series. | |||||||
| Particulars | For the year/period ended (Rs in Millions) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |||
| Total Assets | 83,107.57 | 97,281.77 | 138,007.40 | ||
| Total Revenue | 11,766.94 | 26,836.81 | 17,752.29 | ||
| Profit After Tax | - 1,158.26 | - 374.27 | 3,845.16 | ||
Dhani Services Limited is the company promoter.
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 30.00% | 4,50,000 |
| Non-Institutional | 10.00% | 1,50,000 |
| HNI | 30.00% | 4,50,000 |
| Retail | 30.00% | 4,50,000 |
| Total | 100.00% | 15,00,000 |
Dhani Loans and Services Limited is a non-deposit-taking systemically important NBFC registered with the RBI and a 100% subsidiary of Dhani Services Limited (formerly known as Indiabulls Ventures Limited). The company provides transaction finance to its customers through the Dhani App and also provide personal loans, secured and unsecured business loans to individual and corporates.
The company has three major product offerings:
Personal Loans - Dhani provides quick and hassle-free personal loans ranging from Rs 1000 to Rs 15 Lakhs. The loan process is completely online, and customers just need to provide their Pan Card and Address proof for availing of the loan. These loans come at a tenure ranging of 3 to 24 months.
Business Loans - Dhani provides easy business loans for small businesses. The funds can be used to invest in infrastructure, upgrade plant and machinery, expand operations, increase working capital or maintain inventory, etc. These loans can be up to Rs 40 lakhs and do not require any collateral/ guarantor. These loans come at a flexible repayment tenure of 12 to 48 months.
Secured Loans - The company provides mortgage loans, where customers can leverage the value of their residential/commercial property for loans. The company provides secured loans with maximum finance against the market value while clients can continue to occupy the property. Small and mid-sized businesses, partnership firms, self-employed professionals, and private or closely held companies are eligible for these secured loans.
As of September 30, 2021, Dhani Services Limited has 133 branches and has disbursed loans to customers in over 900 cities in India through the Dhani App. As of September 30, 2021, the company has over 14,000 employees. The company aspires to serve 10 million customers by 2021 and 250 million customers by 2024.
The company proposes to utilise the funds for the following objects:
1. For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the company; and
2. General corporate purposes.
[Dilip Davda] DLSL has been posting losses with erratic top lines for the reported periods except for FY21. It has changed the set of its lead manager, rating agency as well as a debenture trustee. The new rating agency has given an AA/Stable rating which is widely accepted by the markets, but despite such rating, it is offering higher coupon rates perhaps to lure investors due to its poor financial performance. There is no harm in ignoring this risky bet. Read detail review...
The Dhani Loans and Services NCD January 2022 was subscribed 1.38 times on Jan 27, 2022 17:00. The NCD subscribed 1.84 times in Retail, 0.92 times in HNI, 3.84 times in Non-Institutional, and 0.56 times in Institutional category.
Dhani Loans & Services Ltd.
M-62 & 63, First Floor,
Connaught Place,
New Delhi – 110 001
New Delhi, New Delhi, 110001
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Dhani Loans & Services Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
