Bajaj Housing Finance Allots 50,000 NCDs Aggregating ₹500 Crore on Private Placement Basis
Bajaj Housing Finance allotted 50,000 Secured Redeemable NCDs at a face value of Rs. 1,00,000 each, aggregating Rs. 500 crore on a private placement basis on 18 May 2026. The NCDs carry a coupon rate of 7.83% per annum, payable annually and on maturity, with a tenure of 1,096 days maturing on 18 May 2029. The debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited and are secured by a first pari-passu charge on book debts and loan receivables at 1.00 times the aggregate outstanding value.
*this image is generated using AI for illustrative purposes only.
Bajaj Housing Finance has allotted 50,000 Secured Redeemable Non-Convertible Debentures (NCDs) at a face value of Rs. 1,00,000 each, aggregating Rs. 500 crore, on a private placement basis. The allotment was approved by the company's Debenture Allotment Committee at its meeting held on 18 May 2026, which commenced at 11.45 a.m. and concluded at 12.05 p.m. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Details of the NCD Allotment
The following table summarises the key terms and parameters of the NCD issuance:
| Parameter: | Details |
|---|---|
| Issue Size: | Rs. 500 crore |
| Number of NCDs: | 50,000 |
| Face Value per NCD: | Rs. 1,00,000 |
| Date of Allotment: | 18 May 2026 |
| Date of Maturity: | 18 May 2029 |
| Tenure: | 1,096 days |
| Coupon Rate: | 7.83% p.a. |
| Coupon Payment Frequency: | Annually and On Maturity |
| Listing Exchange: | BSE Limited (Wholesale Debt Market Segment) |
| Redemption: | Redeemable on maturity |
Coupon Payment Schedule
The interest and principal repayment on the NCDs will follow a structured annual schedule. The details are as follows:
| Payment: | Date |
|---|---|
| 1st Interest Payment: | 18 May 2027 |
| 2nd Interest Payment: | 18 May 2028 |
| 3rd Interest Payment & Principal Repayment: | 18 May 2029 |
Security and Charge
The NCDs are secured instruments. Repayment of the debentures, interest thereon, trustees' remuneration, and all other related monies will be secured by a first pari-passu charge on book debts and loan receivables. The security cover shall be equivalent to 1.00 time the aggregate outstanding value of debentures issued under the General Information Document dated 2 July 2025.
The debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited. No special rights, privileges, or interests are attached to the instrument, and there are no reported delays or defaults in payment of interest or principal.
Historical Stock Returns for Bajaj Housing Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.07% | -4.29% | -5.85% | -22.08% | -31.87% | -49.22% |
How might Bajaj Housing Finance deploy the Rs. 500 crore raised through this NCD issuance, and could it accelerate the company's loan book growth targets for FY2027?
Given the 7.83% coupon rate, how does Bajaj Housing Finance's cost of borrowing compare to peers in the housing finance sector, and could rising or falling interest rates impact its net interest margin over the 3-year tenure?
With the security cover set at just 1.00 times the outstanding debenture value, how might credit rating agencies assess the adequacy of this collateral structure in a potential asset quality stress scenario?
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