Ashiana Housing to raise Rs 20 crore via private placement of NCDs

Ashiana Housing today said it plans to raise Rs 20 crore through private placement of non-convertible debentures (NCDs)

New Delhi: Ashiana Housing on Monday said it plans to raise Rs 20 crore through private placement of non-convertible debentures (NCDs).

"The executive committee of directors have passed the resolution for allotment of secured non-convertible debentures on private placement for an amount of Rs 20 crore," the company said in a regulatory filing.

The fund has been raised at 11 per cent interest rate. 

Ashiana Housing had last year raised Rs 200 crore from global investors Goldman Sachs and Creador through issuance of qualified institutional placement.

Delhi-based Ashiana Housing focuses on the development of homes for senior citizens. It has projects in Jaipur, Bhiwadi, Sohna-Gurgaon, Neemrana, Chennai, Kolkata and Jamshedpur. That apart, the company is developing houses in Lavasa township project.