Housing finance companies to lift as much as Rs 12,000 crore by way of RMBS in FY26
The fundraising will likely be performed throughout seven to 10 offers within the present monetary 12 months, Sanjay Shukla, managing director of NHB mentioned on Monday. RDCL, which structured one such deal final week, is in talks with a few housing finance firms.
RDCL, wherein NHB holds the biggest stake of 39%, began operations in March 2025. Along with structuring RMBS offers, RDCL’s scope of actions contain offering liquidity help and credit score enhancement, amongst others.
Shukla was talking on the sidelines of itemizing of India’s first residential mortgage-backed securities (RMBS). This concerned LIC Housing Finance elevating Rs1,000 crore final week via pass-through certificates (PTC) maturing in 20 years at a 7.26% coupon, payable month-to-month. PTCs are debt devices backed by belongings like loans, which on this case was the housing mortgage portfolio originated by LIC Housing.
Securitisation of mortgage swimming pools is a well-liked methodology amongst non-banking finance firms. However what units this specific transaction aside is that worth discovery was performed via the bidding course of on Nationwide Inventory Trade’s digital bidding platform.
“When housing finance firms promote (mortgage portfolios) to banks at a pre-agreed charge, there isn’t any worth discovery. On this construction, there will likely be worth discovery. The bidding will happen on the digital bidding platform,” Shukla mentioned.M Nagaraju, secretary – division of monetary providers, mentioned that beneath such transactions, the price of borrowing is anticipated to return down for housing finance firms, which will likely be handed on to the tip borrower. “One other main profit will likely be to get long-term housing loans at a set charge.”“As soon as PTCs are made out there to retail buyers, funding on this instrument is another choice, the place they’ll get month-to-month influx,” Nagaraju mentioned.
In LIC Housing Finance’s deal, the PTCs had been issued via a particular function automobile and are rated AAA(SO) by CRISIL and CARE.
Individually, Shukla additionally mentioned that NHB is planning to lift Rs55,000-Rs60,000 crore via bonds in FY2026 in contrast with Rs48,000 crore within the earlier monetary 12 months.
