IIFL Home Finance NCD will open for subscription from 06 July 2021. the company aims for an issue size of ₹900 crores through this NCD issue.
IIFL Home Finance
Incorporated in 2009, IIFL Home Finance Ltd is a subsidiary of IIFL Finance, a leading financial service provider engaged in the business of loans and mortgages. IIFL’s product offerings include home loans, gold loans, business loans including loans against property and medium and small enterprise financing, microfinance, developer and construction finance, and capital market finance; catering to both retail and corporate clients. The company’s geographical presence spans the length and breadth of the country with 2,372 branches across 500+ cities.
Objects of the Issue
- For the purpose of onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings – At least 75%.
- General Corporate Purposes – Maximum of up to 25%.
IIFL Home Finance NCD Details
| Issue Open | Jul 6, 2021 – Jul 28, 2021 |
| Security Name | IIFL Home Finance Ltd |
| Security Type | Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs) |
| Issue Size (Base) | ₹ 100.00 Crores |
| Issue Size (Shelf) | ₹ 900.00 Crores |
| Issue Price | ₹ 1000 per NCD |
| Face Value | ₹ 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 10 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL AA/Stable, BWR AA+/ Negative |
The NCDs proposed to be issued under the Issue have been rated “CRISIL AA/Stable” and “BWR AA+/ Negative” by Brickwork Ratings India Private Limited. The aforesaid rating indicates that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.
Coupon Rates
| Series 1 | S2 | S3 | |
|---|---|---|---|
| Frequency of Interest Payment | Annual | Monthly | At Maturity |
| Nature | Unsecured | Un-secured | Unsecure |
| Tenor | 87 month | 8 7 months | 87 mnths |
| Coupon Rate | 10% | 9.60% | NA |
| Effective Yield (% per Annum) | 10% | 10.03% | 10.02% |
| Amount on Maturity | ₹1,000 | ₹ 1,000 | ₹ 2,000 |
NCD’s Offered
NCD’s offered in each investor category:
| Category | NCD’s Reserved |
|---|---|
| Category 1 | 100,000 |
| Category 2 | 100,000 |
| Category 3 | 400,000 |
| Category 4 | 400,000 |
| Total NCD’s | 1,000,000 |
Company Promoters
- IIFL Finance Limited (formerly known as IIFL Holdings Limited).
IIFL Home Finance NCD Lead Manager(s)
- Equirus Capital Private Limited
- Trust Investment Advisors Private Limited
IIFL Home Finance NCD Registrar
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: iiflhome.ncd@linkintime.co.in
Website: http://www.linkintime.co.in
Company Contact Information
IIFL Home Finance Ltd
IIFL House, Sun Infotech Park, Road No. 16V,
Plot No. B-23, MIDC, Thane Industrial Area,
Wagle Estate, Thane – 400604, Maharashtra, India
Phone: +91 22 4103 5000
Email: secretarialhfc@iifl.com
Website: https://www.iifl.com/home-loans
Final Thoughts
Non Convertible Debentures (NCD) is a better investment option for those who are looking for a diversified portfolio. investing inIIFL Home Finance NCD is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing