Grihum Housing Finance plans to raise funds up to Rs 5k cr via NCDs in CY25

We aim to raise approximately Rs 4,500-Rs 5,000 crore over the next 12 months, with a significant portion targeted through capital markets for a tenure of 3-4 years, says Manish Jaiswal

Grihum Housing Finance plans to raise Rs 5,000 crore through Non-Convertible Debentures (NCDs) in calendar year 2025 (CY25), said Manish Jaiswal, managing director and chief executive officer of the company.

 

“We aim to raise approximately Rs 4,500–Rs 5,000 crore over the next 12 months, with a significant portion targeted through capital markets for a tenure of 3–4 years. While we remain open to longer tenures, this will largely depend on the depth and maturity of the corporate bond market in India. The funds will primarily be raised through Non-Convertible Debentures (NCDs) in the capital market,” Jaiswal told Business Standard.

 

 

Recently, the company received a long-term credit rating upgrade by CRISIL to ‘AA’ from ‘CRISIL AA-,’ with its short-term rating reaffirmed at ‘A1+.’ In its press release, the rating agency said that the upgrade was driven by steady improvement in the company’s operating profitability, scaling up of operations, and continued comfortable capitalisation levels.

 

The affordable housing finance company serves over 83,000 customers and has more than 200 branches across 18 states and Union Territories, with assets under management (AUM) of around Rs 9,129 crore and an average loan ticket size of nearly Rs 10 lakh as on September 30, 2024.

 

TPG Group acquired Poonawalla Housing Finance from Poonawalla Fincorp in July 2023 after receiving all necessary approvals. Following the acquisition of a 98.33 per cent stake by TPG Group, the entity was renamed Grihum Housing Finance in December 2023.

 

Grihum has also acquired nearly 5 per cent stake in RMBS Development Company (RDCL), set up by the National Housing Bank (NHB).