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    5 - Fiev - B - Group Project

    Uploaded by

    Aswath Chandrasekar
    This document is a group assignment submitted by 8 students on the topic of fixed income and equity valuation. It provides details of a bond issuance by Pinewood Housing Finance Limited, including the security name, issuer, issue dates, listing details, security features, issue size, coupon type and payment, tenor, instrument rating, eligibility of subscribers, and benefits to both the issuer and investors. The key details are the issuance of secured, redeemable non-convertible debentures of face value Rs. 1,000 by Pinewood Housing Finance Limited amounting to Rs. 1,500 million with floating coupon paid half-yearly and a tenor of 10 years.

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    © All Rights Reserved
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    5 - Fiev - B - Group Project

    Uploaded by

    Aswath Chandrasekar
    10 views5 pages
    This document is a group assignment submitted by 8 students on the topic of fixed income and equity valuation. It provides details of a bond issuance by Pinewood Housing Finance Limited, including the security name, issuer, issue dates, listing details, security features, issue size, coupon type and payment, tenor, instrument rating, eligibility of subscribers, and benefits to both the issuer and investors. The key details are the issuance of secured, redeemable non-convertible debentures of face value Rs. 1,000 by Pinewood Housing Finance Limited amounting to Rs. 1,500 million with floating coupon paid half-yearly and a tenor of 10 years.

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    5_FIEV_B_GROUP PROJECT

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    This document is a group assignment submitted by 8 students on the topic of fixed income and equity valuation. It provides details of a bond issuance by Pinewood Housing Finance Limited, including the security name, issuer, issue dates, listing details, security features, issue size, coupon type and payment, tenor, instrument rating, eligibility of subscribers, and benefits to both the issuer and investors. The key details are the issuance of secured, redeemable non-convertible debentures of face value Rs. 1,000 by Pinewood Housing Finance Limited amounting to Rs. 1,500 million with floating coupon paid half-yearly and a tenor of 10 years.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    10 views5 pages

    5 - Fiev - B - Group Project

    Uploaded by

    Aswath Chandrasekar
    This document is a group assignment submitted by 8 students on the topic of fixed income and equity valuation. It provides details of a bond issuance by Pinewood Housing Finance Limited, including the security name, issuer, issue dates, listing details, security features, issue size, coupon type and payment, tenor, instrument rating, eligibility of subscribers, and benefits to both the issuer and investors. The key details are the issuance of secured, redeemable non-convertible debentures of face value Rs. 1,000 by Pinewood Housing Finance Limited amounting to Rs. 1,500 million with floating coupon paid half-yearly and a tenor of 10 years.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    FIXED INCOME & EQUITY VALUATION

    GROUP ASSIGNMENT

    Submitted to
    DR. M. Jeevananthan
    Submitted by:

    21PGDM117-Aswath.C

    21PGDM099-Abhishek Kumar Giri

    21PGDM176-Sneha Chatterjee

    21PGDM174-Rajnandini Ganai

    21PGDM189-Tanish Mour

    21PGDM193-Vikash Agarwal

    21PGDM194-Yash Pareek

    21PGDM111-DIvyratn Singh
    PINEWOOD HOUSING FINANCE LIMITED
    New Delhi PINEWOOD Housing Finance Limited (the “Company” or “Issuer”) was
    incorporated at Mumbai on June 30, 2001 as a public limited company with the name
    ‘PINEWOOD Housing Finance Limited’ under the provisions of the Companies Act,
    1956. The Company received its certificate for commencement of business on July 22,
    2001. Our Company is registered with the National Housing Bank (“NHB”) as housing
    finance company vide registration no. 06.0041.03 dated March 07, 2002.

    SECURITY NAME PINEWOOD housing finance ltd, bond 2032


    ISSUER PINEWOOD HOUSING FINANCE LIMITED
    ISSUE OPEN DATE 20TH OCTOBER 2022
    ISSUE CLOSE DATE 10TH NOVMBER 2022
    LISITNG The NCDs offered through this Prospectus are proposed
    to be listed on BSE Limited (“BSE”) and BSE shall be
    the Designated Stock Exchange.
    SECURITY FEATURES PUBLIC ISSUE BY THE COMPANY OF SECURED,
    REDEEMABLE, NON-CONVERTIBLE
    DEBENTURES.
    ISSUE SIZE DEBENTURES OF FACE VALUE ₹ 1,000 EACH
    (“NCDs” OR “DEBENTURES”), AMOUNTING TO ₹
    1,500 MILLION (“BASE ISSUE SIZE”).
    COUPON TYPE Floating
    COUPON PAYMENT On half yearly basis.
    TENOR 10 years
    RATING OF THE The NCDs proposed to be issued under the Issue have
    INSTRUMENT been rated CRISIL AA-/ Negative (pronounced as
    CRISIL double A minus rating with Negative outlook)
    for an amount of ₹ 5,000 million by CRISIL Ratings
    Limited vide their rating letter dated December 13, 2021
    and revalidated as on March 17, 2022 and “ACUITE
    AA/Negative” (pronounced as ACUITE double A rating
    with Negative outlook) for an amount of ₹5,000 million
    by Acuité Ratings & Research Limited vide their rating
    letter dated December 29, 2021 and revalidated as on
    March 21, 2022. The rating is not a recommendation to
    buy, sell or hold securities and investors should take
    their own decision. The rating may be subject to revision
    or withdrawal at any time by the assigning rating agency
    and each rating should be evaluated independently of
    any other rating. The rating agency has a right to suspend
    or withdraw the rating at any time on the basis of factors
    such as new information. Please refer to Annexure A and
    Annexure B of this Prospectus for the rating, rating
    rationale and press release of the above rating.
    ELIGIBILITY OF THE Category I
    SUBCRIBERS • Public financial institutions, scheduled commercial
    banks, Indian multilateral and bilateral development
    financial
    institutions which are authorised to invest in the NCDs;
    • Provident funds and pension funds each with a
    minimum corpus of ₹ 250 million, superannuation funds
    and gratuity
    funds, which are authorised to invest in the NCDs;
    • Alternative Investment Funds, subject to investment
    conditions applicable to them under the Securities and
    Exchange
    Board of India (Alternative Investment Funds)
    Regulations, 2012;
    • Resident Venture Capital Funds registered with SEBI;
    • Insurance companies registered with the IRDAI;
    • State industrial development corporations;
    • Insurance funds set up and managed by the army, navy,
    or air force of the Union of India;
    • Insurance funds set up and managed by the Department
    of Posts, the Union of India;
    • Systemically Important Non-Banking Financial
    Company registered with the RBI and having a net-
    worth of more
    than ₹ 5,000 million as per the last audited financial
    statements;
    • National Investment Fund set up by resolution no.
    F.No. 2/3/2005-DDII dated November 23, 2005 of the
    Government of India published in the Gazette of India;
    and
    • Mutual funds registered with SEBI.
    Category II
    • Companies within the meaning of Section 2(20) of the
    Companies Act, 2013; statutory bodies/ corporations and
    societies registered under the applicable laws in India
    and authorised to invest in the NCDs;
    • Co-operative banks and regional rural banks;
    • Trusts including public/private charitable/religious
    trusts which are authorised to invest in the NCDs;
    • Scientific and/or industrial research organisations,
    which are authorised to invest in the NCDs;
    • Partnership firms in the name of the partners;
    • Limited liability partnerships formed and registered
    under the provisions of the Limited Liability Partnership
    Act,
    2008 (No. 6 of 2009);
    • Association of Persons; and
    • Any other incorporated and/ or unincorporated body of
    persons.
    Category III
    • High Net-worth Individual Investors - Resident Indian
    individuals or Hindu Undivided Families through the
    Karta
    applying for an amount aggregating to above ₹
    10,00,000 across all options of NCDs in the Issue
    Category IV
    • Retail Individual Investors - Resident Indian
    individuals or Hindu Undivided Families through the
    Karta applying
    for an amount aggregating up to and including
    ₹10,00,000 across all options of NCDs in the Issue and
    shall include
    333
    Retail Individual Investors, who have submitted bid for
    an amount not more than ₹200,000 in any of the bidding
    options in the Issue (including HUFs applying through
    their Karta and does not include NRIs) though UPI
    Mechanism.

    BENEFITS TO ISSUER:
     Debentures are debt securities issued by a corporation that promise a set
    interest rate on the due date.When compared to equity, debentures are one of
    the most effective ways for a company to obtain capital.
     These products are liquid and may be exchanged on the stock
    exchange.Debenture holders have no voting rights at corporate meetings. As a
    result, equity stockholders' interests are not diluted.
     During periods of inflation, issuing debentures can be advantageous since they
    provide a set interest rate.
     When the firm has excess cash, it may quickly redeem them.
     Non-convertible Debentures (NCDs) are fixed income instruments issued by
    corporations in order to raise long-term financing through public offerings.
    They are issued for a set amount of time, say one to seven years, and pay
    interest on a regular basis or at maturity.
     Many NCDs issued to retail investors (with a face value of Rs 1,000 or less)
    are listed on exchanges and traded like equity shares. A couple of them have
    decent liquidity and higher yields. Investors with a medium risk tolerance who
    are seeking for alternatives to bank and corporate FDs can consider purchasing
    these NCDs. These NCDs, however, are vulnerable to credit and interest rate
    issues. As a result, NCDs with higher ratings, stronger yield-to-maturity
    (YTM), and significant liquidity on exchanges should be considered.

    Benefits to investors:
     Investor’s demand investing alternatives that balance liquidity and risk while
    providing high returns. Debentures are long-term financial instruments issued by a
    firm with the guarantee to pay a fixed interest rate to the investor. Debentures are
    classified into two types: convertible debentures and non-convertible debentures
    (NCD). Non-convertible debentures (NCDs) cannot be converted into shares or
    equity. The interest rate on an NCD is determined by the firm issuing the NCD.
     Individuals, banking corporations, main dealers, other corporate organisations
    registered or incorporated in India, and unincorporated bodies can all invest in
    NCDs.Convertible debentures are financial instruments that try to achieve a balance
    between debt and equity.
     Investors are paid a fixed rate and have the option to participate in any increase in
    stock price.
     If the issuer's stock price declines, investors can keep the bond until maturity and earn
    interest income.
     In the event of a company's bankruptcy, convertible bondholders are paid before
    shareholders.

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