IIFL Finance NCD will open for from 03 March 2021. the company aims for a Base Issue Size of ₹100 Crores and shelf Issue size of ₹900 through this NCD Issue.
IIFL Finance Limited
Incorporated in 1995, IIFL Finance Limited is a Mumbai-based NBFC company. IIFL offers home loans, gold loans, business loans including loans against property and medium and small enterprise financing, microfinance, construction and real estate finance, and capital market finance; catering to both retail and corporate clients.
As at December 31, 2020, March 31, 2020, March 31, 2019 and March 31, 2018, company’s consolidated assets under management were Rs 4,22,641.05 million, Rs 379,511.30 million, Rs 349,034.73 million and Rs 311,336.29 million, respectively.
Objectives of the Issue
- For onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings of the Company.
- General Corporate Purposes.
IIFL Finance NCD Details
| Issue Open | 03 March 2021 |
| Issue Closing | 25 March 2021 |
| Security Name | IIFL Finance Limited |
| Security Type | Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs) |
| Base Issue Size | ₹ 100 Crores |
| Issue Size (Shelf) | ₹ 9000 Crores |
| Total Issue size | ₹ 1000 Crores |
| Issue Price | ₹ 1000 per NCD |
| Face Value | ₹ 1000 for each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 10 NCD |
| Credit Rating | The NCDs have been rated CRISIL AA/Negative by CRISIL Limited BWR AA+/ Negative by Brickworks Ratings India Private Limited. |
| Tenor | 87 Months |
| Payment Frequency | Monthly, Annually, At Maturity |
| Basis of Allotment | First Come First Serve Basis |
Coupon Rates
| Series 1 | S 2 | S 3 | |
|---|---|---|---|
| Frequency of Interest Payment | Annual | Monthly | At Maturity |
| Nature | Unsecured | Unsecurd | Unsecurd |
| Tenor | 87 months | 87 | 87months |
| Coupon Rate | 10% | 9.60% | NA |
| Effective Yield (% per Annum) | 10% | 10.03% | 10.03% |
| Amount on Maturity | Rs 1000 | ₹ 1,000 | Rs 2,000 |
Company Promoters
- Mr. Nirmal Jain
- Mr. Venkataraman Rajamani
IIFL Finance NCD Lead Managers
- Edelweiss Financial services
- Equirus Capital Pvt Ltd
IIFL Finance NCD Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: iifl.ncd2020@linkintime.co.in
Website: http://www.linkintime.co.in
Company Contact Information
IIFL Finance Limited
802, 8th Floor, Hub Town Solaris,
N.S. Phadke Marg, Vijay Nagar,
Andheri East, Mumbai 400069, Maharashtra
Phone: +91 22 6788 1000
Email: csteam@iifl.com
Website: https://www.iifl.com/
Final Thoughts
Non Convertible Debentures (NCD) is a better investment option for those who are looking for a diversified portfolio. investing in IIFL Finance NCD is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing