{"id":3514,"date":"2022-04-19T09:00:07","date_gmt":"2022-04-19T09:00:07","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=3514"},"modified":"2026-04-07T12:42:32","modified_gmt":"2026-04-07T12:42:32","slug":"dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/","title":{"rendered":"Dhani Loans and Services Limited NCD IPO- April 2022. Should you invest?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#High_Yield_AA_Rated_Minimum_Investment_10k_Only\" >High Yield\u00a0 |\u00a0 AA\u00a0 Rated\u00a0 |\u00a0 Minimum Investment: 10k Only<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Apply_Now\" >Apply Now<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#DLSL_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\" >DLSL NCD IPO: Coupon rates and effective yield for each of the series\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Allocation_Ratio\" >Allocation Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Issue_Analysis\" >Issue Analysis<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Pros\" >Pros<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Cons\" >Cons<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#About_Dhani_Financials\" >About Dhani Financials\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Strengths\" >Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Balance_Sheet\" >Balance Sheet<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Ratio_Analysis\" >Ratio Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Investment_Process\" >Investment Process<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Apply_Now-2\" >Apply Now<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Previous_Dhani_NCD_IPO_details_Jan_%E2%80%93_2022\" >Previous Dhani NCD IPO details | Jan &#8211; 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#DLSL_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series-2\" >DLSL NCD IPO: Coupon rates and effective yield for each of the series\u00a0<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#Other_NCD_IPOs\" >Other NCD IPOs<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#MUTHOOT_FINANCE_LTD_IPO_%E2%80%93_April_2022\" >MUTHOOT FINANCE LTD IPO \u2013 April 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/dhani-loans-and-services-limited-ncd-ipo-april-2022-should-you-invest\/#U_GRO_Capital_NCD_IPO_%E2%80%93_April_2022\" >U GRO Capital NCD IPO \u2013 April 2022,<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"High_Yield_AA_Rated_Minimum_Investment_10k_Only\"><\/span><span style=\"font-weight: 400;\">High Yield\u00a0 |\u00a0 AA\u00a0 Rated\u00a0 |\u00a0 Minimum Investment: 10k Only<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Dhani Loans and Services Limited (DLSL) is a non-deposit taking NBFC registered with RBI. DLSL is a 100% subsidiary of Dhani Services Limited formerly called IndiaBulls Venture Limited. The company DLSL, is issuing AA IVR rated NCDs. The NCDs will be issued in seven series. The coupon rate ranges between 10.03% p.a and 11% p.a.\u00a0 They come with different tenures such as 370 days, 24 months, and 36 months. The IPO opens on April 19th and closes on May 10th. These NCDs are senior and secured. Beacon Trusteeship Limited is the Debenture Trustee and KFIN Technologies Private Limited is the Registrar of the issue.\u00a0<\/span><\/p>\n<h1 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Apply_Now\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-ipo-online?utm_source=blog&amp;utm_medium=blog&amp;utm_campaign=dhaniapril22\">Apply Now<\/a><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>&nbsp;<\/p>\n<div class=\"pcrstb-wrap\"><table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issuer<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">DHANI LOANS AND SERVICES LIMITED<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Type of instrument<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Secured, Rated, Listed, non-convertible debentures<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Seniority\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Senior<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Listing<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">The NCDs will be listed on BSE and NSE within 6 working days from the issue closing date.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issue Size<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Base Issue Size: Rs 100 crores<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000080;\">Greenshoe Option : Rs 100 crores (if the company gets subscriptions that amount to more than Rs 100 crores, then it can retain this oversubscribed amount up to Rs 200 croes. The greenshoe option refers to this extra amount over and above the base issue size)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issue Price<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Rs. 1000 per NCD<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Minimum Investment<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Rs. 10,000 \/- (10 NCD) and in multiples of Rs.1000\/-(1 NCD) thereafter.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issue Opening Date<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">April 19, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issue Closing Date<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">May 10, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Mode of Application<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">ASBA only<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Mode of Issuance<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Dematerialized only<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Credit Ratings<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">IVR AA\/ Stable Outlook by Informerics\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<h2><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"DLSL_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\"><\/span><span style=\"font-weight: 400;\">DLSL NCD IPO: <\/span><span style=\"font-weight: 400;\">Coupon rates and effective yield for each of the series\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"pcrstb-wrap\"><table style=\"height: 372px;\" width=\"771\">\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Series\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Frequency\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Tenure\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Coupon Rate\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Yield\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">I<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Cumulative<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">370 Days\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">NA<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">II<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Annual<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">24 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.50%<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.49%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">III<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Cumulative<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">24 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">NA<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.50%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">IV<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Monthly<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">24 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.03%<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.50%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">V<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Annual\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">36 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">11%<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.99%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">VI<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Cumulative\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">36 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">11%<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">11%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">VII<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Monthly\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">36 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.49%<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">11%<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Allocation_Ratio\"><\/span><span style=\"font-weight: 400;\">Allocation Ratio<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI.\u00a0 Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for DLFL NCD-IPO.\u00a0<\/span><\/p>\n<p><b>Non-Institutional:10 Cr, HNI: 30 Cr, Retail : 30 Cr, Institutional: 30 Cr.<\/b><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Issue_Analysis\"><\/span><span style=\"font-weight: 400;\">Issue Analysis<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Pros\"><\/span><span style=\"font-weight: 400;\">Pros<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The NCD is AA rated security with a stable outlook.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The coupon rate is between 10% to 11% which is much higher than FDs.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Cons\"><\/span><span style=\"font-weight: 400;\">Cons<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The profit and Loss statement shows a loss for the company.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Net NPA has increased from 0.74% in 2020 to 2.5% in 2021.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The interest coverage ratio is 0.73 for 2021.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">#<\/span><b>Net NPA-<\/b><span style=\"font-weight: 400;\"> Net NPA is the measure of bad\/ non-paying loans of the company. It is a strong indicator of Banks&#8217;\/ NBFC\u2019s health.<\/span><\/p>\n<p><b>#Interest Coverage Ratio- <\/b><span style=\"font-weight: 400;\">The ratio indicates whether the company is earning enough to meet its interest obligations that arise out of the company\u2019s borrowings. The lower the interest coverage ratio, the more the company&#8217;s debt burden and therefore the greater the likelihood of bankruptcy or default.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"About_Dhani_Financials\"><\/span><span style=\"font-weight: 400;\">About Dhani Financials<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Dhani loans and Services limited is a subscription-based technology company. The company operates under Dhani Services Limited which is a consumer business. The company operates its mobile application \u201cDhani\u201d (\u201cDhani App\u201d) through which it provides digital healthcare and digital transactional finance to its\u2019 customers. They have also issued a card called \u2018Dhani OneFreedom Card\u2019 which is been accepted by over 10 million merchants in either of the ways, digital or physical.<\/span><\/p>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/11\/04065519\/ezgif.com-gif-maker-3.gif\" alt=\"Dhani Loans and Services Limited NCD IPO- April 2022. Should you invest?\" \/><\/p>\n<\/div>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">As of September 30, 2021, there were approximately 1.32 million subscribers to the Dhani OneFreedom Card<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Employee base: 14,000+\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Number of branches: 133 branches over 900 cities<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Strengths\"><\/span><span style=\"font-weight: 400;\">Strengths<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Strong Brand recognition<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">World wide reach<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Technical use for assessing loan products<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Robust risk management framework<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Robust Balance Sheet with strong capital adequacy<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Balance_Sheet\"><\/span><span style=\"font-weight: 400;\">Balance Sheet<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Net Interest Income- 845.04 Cr<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Net NPA to total loan size &#8211; 2.5%<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(In Crores)<\/span><\/p>\n<div class=\"pcrstb-wrap\"><table>\n<tbody>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">2021<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2020<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2019<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Revenue<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1176.694<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2683.681<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1775.229<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Expenses<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1301.589<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2741.845<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1250.519<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">PAT<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(115.826)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(37.427)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">384.516<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Ratio_Analysis\"><\/span><strong>Ratio Analysis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-3905\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/04\/21121048\/screenshot-2022-04-21-at-4-54-1-1024x511.png\" alt=\"Ratio Analysis Dhani Loans and Services Limited NCD IPO\" width=\"711\" height=\"355\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/04\/21121048\/screenshot-2022-04-21-at-4-54-1-1024x511.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/04\/21121048\/screenshot-2022-04-21-at-4-54-1-300x150.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/04\/21121048\/screenshot-2022-04-21-at-4-54-1-768x383.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/04\/21121048\/screenshot-2022-04-21-at-4-54-1-1536x766.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/04\/21121048\/screenshot-2022-04-21-at-4-54-1-1170x584.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/04\/21121048\/screenshot-2022-04-21-at-4-54-1-1920x958.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/04\/21121048\/screenshot-2022-04-21-at-4-54-1-585x292.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2022\/04\/21121048\/screenshot-2022-04-21-at-4-54-1.png 2000w\" sizes=\"(max-width: 711px) 100vw, 711px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Investment_Process\"><\/span><strong>Investment Process<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">IPOs are facilitated by entities called Lead Managers. Generally, these lead managers are brokerage firms. Investors need to apply for IPO through lead managers, and once the allotment is made, investors will receive the bond units in their Demat account. <\/span><span style=\"font-weight: 400;\">You can invest in IPOs via GoldenPi in 3 easy steps.<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-3296\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2021\/09\/04031639\/GoldenPi-Process-Infographic-09_03-Updated-300x187.jpg\" alt=\"Investment Process\" width=\"510\" height=\"318\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2021\/09\/04031639\/GoldenPi-Process-Infographic-09_03-Updated-300x187.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2021\/09\/04031639\/GoldenPi-Process-Infographic-09_03-Updated-1024x638.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2021\/09\/04031639\/GoldenPi-Process-Infographic-09_03-Updated-768x479.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2021\/09\/04031639\/GoldenPi-Process-Infographic-09_03-Updated-1536x957.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2021\/09\/04031639\/GoldenPi-Process-Infographic-09_03-Updated-2048x1277.jpg 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2021\/09\/04031639\/GoldenPi-Process-Infographic-09_03-Updated-1170x729.jpg 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2021\/09\/04031639\/GoldenPi-Process-Infographic-09_03-Updated-1920x1197.jpg 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2021\/09\/04031639\/GoldenPi-Process-Infographic-09_03-Updated-585x365.jpg 585w\" sizes=\"(max-width: 510px) 100vw, 510px\" \/><\/p>\n<p><strong>If the investment amount is more than 10 Lakhs\u00a0<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">A.Fill up the form with the required information.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">B.Take a photo of your form and share it with your Relationship Manager for bidding on exchange.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">C. Courier the filled up IPO form to our office address as early as possible. The issue closes on the 22nd of December 2021. The earlier you send it, the better it is.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our Address: IndiQube Orion, Ground Floor,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">24th Main Road, Garden Layout, Sector 2,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">HSR Layout, Bangalore, Pincode: 560102<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the investment amount is less than 10 lakhs\u00a0<\/span><\/p>\n<p><strong>If the investment amount is less than 10 lakhs, retail investors can apply for an IPO online in three simple steps.\u00a0<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Select the product- Visit GoldenPi.Com and go to the collection page. Visit the IPO section and choose the issuing company. The product page provides information such as a coupon, yield, maturity, and payment frequency. The product page also displays credit rating and issuer details that help investors to make an appropriate decision.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Decide Investment Amount \u2013 Decide the amount you want to invest. You need to select the series and the number of units you want to purchase. The calculator displays the total investment amount.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pay via UPI\u2013 Now provide UPI handle. You will receive a mandate in the UPI app. Go to the respective UPI app and make payment by approving the mandate.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IPO allotment<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IPO will be allotted to you on a first-come, first-serve basis and credited to your Demat account.\u00a0<\/span><\/p>\n<h1 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Apply_Now-2\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-ipo-online?utm_source=blog&amp;utm_medium=blog&amp;utm_campaign=dhaniapril22\">Apply Now<\/a><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Previous_Dhani_NCD_IPO_details_Jan_%E2%80%93_2022\"><\/span><strong>Previous Dhani NCD IPO details | Jan &#8211; 2022<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"pcrstb-wrap\"><table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issuer<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">DHANI LOANS AND SERVICES LIMITED<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Type of instrument<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Secured, Rated, Listed, non-convertible debentures<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Seniority\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Senior<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Listing<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">The NCDs will be listed on BSE and NSE within 6 working days from the issue closing date.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issue Size<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Base Issue Size: Rs 150 crores<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000080;\">Greenshoe Option : Rs 150 crores (if the company gets subscriptions that amount to more than Rs 150 crores, then it can retain this oversubscribed amount up to Rs 300 croes. The greenshoe option refers to this extra amount over and above the base issue size)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issue Price<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Rs. 1000 per NCD<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Minimum Investment<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Rs. 10,000 (10 NCDs across all series)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issue Opening Date<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">January 04, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Issue Closing Date<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">January 27, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Mode of Application<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">ASBA only<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Mode of Issuance<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Dematerialized only<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Credit Ratings<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">IVR AA\/ Stable Outlook by Informerics\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<h2><span class=\"ez-toc-section\" id=\"DLSL_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series-2\"><\/span><span style=\"font-weight: 400;\">DLSL NCD IPO: <\/span><span style=\"font-weight: 400;\">Coupon rates and effective yield for each of the series\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"pcrstb-wrap\"><table style=\"height: 372px;\" width=\"771\">\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">Series\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Frequency\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Tenure\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Coupon Rate\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Yield\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">I<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Cumulative<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">370 Days\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">NA<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">II<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Annual<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">24 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.50%<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.50%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">III<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Cumulative<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">24 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">NA<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.50%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">IV<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Monthly<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">24 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.03%<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.50%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">V<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Annual\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">36 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">11%<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.99%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">VI<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Cumulative\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">36 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">NA<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">11%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400; color: #000080;\">VII<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">Monthly\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">36 Months\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">10.49%<\/span><\/td>\n<td><span style=\"font-weight: 400; color: #000080;\">11%<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Other_NCD_IPOs\"><\/span>Other NCD IPOs<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h5 class=\"post-title single-post-title entry-title\" style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"MUTHOOT_FINANCE_LTD_IPO_%E2%80%93_April_2022\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/muthoot-finance-ltd-ipo-april-2022-should-you-invest\/\">MUTHOOT FINANCE LTD IPO \u2013 April 2022<\/a><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5 class=\"post-title single-post-title entry-title\" style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"U_GRO_Capital_NCD_IPO_%E2%80%93_April_2022\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/u-gro-capital-ncd-ipo-april-2022-should-you-invest\/\">U GRO Capital NCD IPO \u2013 April 2022,<\/a><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n","protected":false},"excerpt":{"rendered":"<p>High Yield\u00a0 |\u00a0 AA\u00a0 Rated\u00a0 |\u00a0 Minimum Investment: 10k Only Dhani Loans and Services Limited (DLSL) is a non-deposit taking NBFC registered&hellip;<\/p>\n","protected":false},"author":4,"featured_media":12106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[113],"tags":[],"class_list":["post-3514","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-ncd-ipo","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dhani Loans and Services Limited NCD IPO- April 2022. 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