June 12, 2023
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IIFL Finance NCD Tranche II Issue Details
# NCD Guidance is given at the bottom of the post
About the Company:
IIFL Finance Limited is one of the leading players in the financial services space in India. Together with its subsidiaries – IIFL Home Finance Limited, IIFL Samasta Finance Limited (Formerly known as Samasta Microfinance Limited) and IIFL Open Fintech Private Limited, it provides a diverse range of loans and mortgages.
These include home loans, gold loans, business loans including loans against property and medium & small enterprise financing, micro finance, developer & construction finance and capital market finance; catering to both retail and corporate clients.
The company has a nationwide presence with a thriving network of 3,119 branches across 500+ cities.The company has total assets under management of Rs. 64638 Cr.
Get more details about the company @ http://www.iifl.com
NCD Promoter: Mr. Nirmal B. Jain and Mr. R. Venkatraman
NCD Rating
The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable by CRISIL Ratings Limited and ICRA AA (stable) by ICRA Limited. Such ratings indicated that the instruments are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.
| IIFL Finance NCD Tranche II June 2023 Detail | |
| Issue Open | Jun 9, 2023 – Jun 22, 2023 |
| Security Name | IIFL Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 300.00 Crores |
| Issue Size (Shelf) | Rs 5,000.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL AA/Stable by CRISIL Limited and ICRA AA (stable) by ICRA Limited. |
| Tenor | 24, 36 and 60 Months |
| Series | Series I to VII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trusties | Vardhman Trusteeship Private Limited |
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| NCDs offered by Category. | |||||||||||||
| Category | NCDs Reserved | ||||||||||||
| Institutional | 3,00,000 | ||||||||||||
| Non-Institutional | 12,00,000 | ||||||||||||
| HNI | – | ||||||||||||
| Retail | 12,00,000 | ||||||||||||
| Total NCD’s | 30,00,000 | ||||||||||||
| IIFL Finance Limited NCD Coupon Rates | |||||||
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 |
| Frequency of Interest Payment | Annual | Cumulative | Annual | Cumulative | Monthly | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 8.35% | NA | 8.50% | NA | 8.65% | 9.00% | NA |
| Effective Yield (% per Annum) | 8.34% | 8.35% | 8.49% | 8.50% | 8.99% | 8.99% | 9.00% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,174.25 | Rs 1,000.00 | Rs 1,277.60 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,539.35 |
Objects of the Issue
The Company proposes to utilize the funds towards funding the following objects:
1. Onward lending, financing, and refinancing the existing indebtedness of the company (payment of the interest and/or repayment /prepayment of the principal of borrowings), and
2. General Corporate Purposes.
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| Address of the Company IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Area, Wagle Estate, Thane NCD Lead Managers Edelweiss Financial Services Ltd Trust Investment Advisors Pvt ltd Iifl Securities Ltd Equirus Capital Pvt. Ltd. NCD Registrar Link Intime India Private Ltd |
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Indel Money Tranche 3 NCD Issue Details
Analysis & Guidance:
Will update soon
| Indel Money NCD June 2023 Detail | |
| Subscription Status | |
| On 12.06.2023 | @ 5.00 pm |
| Category | Subscription (Times) |
| Institutional | 0.00 |
| Non-Institutional | 0.07 |
| HNI | – |
| Retail | 0.57 |
| Total | 0.37 |
