Around 75 per cent of the fund raised through these bonds will be used for onlending, financing, repayment/ payment of debt and the balance for general corporate purposes.
"With a sharper focus on the affordable housing segment, we will seek growth opportunities in tier-II and III markets. We will continue to grow profitably," Tata Capital Housing Finance MD Anil Kaul said.
The company's borrowings comprise 43 per cent from banks, 20 per cent from the National Housing Bank and 15 per cent from bonds. The issue will open for subscription on January 7 and closes on January 17. The bonds have been rated AAA by Crisil and Icra. Lead managers to the issue are AK Capital and Edelweiss Financial Services.
The housing finance company focuses primarily on providing affordable home loans, home equity and construction finance. As of September-end, gross non-performing assets were Rs 400.59 crore or 1.45 per cent, and net NPAs at Rs 145.06 crore or 0.53 per cent.
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