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MUMBAI: The country’s first-ever residential mortgage-backed securities were listed on Monday. The housing finance regulator, NHB, anticipates that firms will raise over Rs 10,000 crore through this method in the current fiscal year. The National Housing Bank-backed RMBS Development Company (RDCL) listed its inaugural set of securities worth Rs 1,000 crore, maturing in 20 years with a 7.26% monthly coupon, on the NSE.
NHB’s Managing Director and CEO, Sanjay Shukla, stated that he anticipates up to 10 additional transactions this fiscal year, which will allow lenders to raise between Rs 10,000-12,000 crore.
The listing involves pass-through certificates from a pool of residential loans provided by LIC Housing Finance, with the issue fully subscribed.
RDCL was established in March by NHB to facilitate home financiers in accessing funding by offering future loan receivables to investors. This initiative will also provide investment prospects for term investors like pension funds and insurance companies.
Shukla indicated that NHB is in discussions with other home financiers to gather securities for future listings, and mentioned the expectation of another Rs 1,000 crore tranche within a month.
In addition, Shukla revealed that NHB aims to raise up to Rs 60,000 crore through bonds in FY26, an increase from the Rs 48,000 crore achieved in FY25.
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