Indiabulls Housing Finance Tranche IV NCD Nov 2022 Details

    # NCD Guidance is given at the bottom of the post
    # Latest Subscription Status is given at the bottom of the post

    About the Company:
    Indiabulls Housing Finance is a non-deposit taking housing finance company (“HFC”) registered with the NHB. It is also a notified financial institution under the SARFAESI Act. The company focuses primarily on long-term secured mortgage-backed loans.
    The Company primarily offers housing loans and loans against property to its target client base of salaried and self-employed individuals and micro, small and medium-sized enterprises (“MSMEs”) and corporates. It also offers mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises. A majority of its Loan Book comprise housing loans, including in the affordable housing segment. As of March 31, 2022, housing loans and non-housing loans constituted 62% and 38%, respectively of its Loan Book.
    As of September 30, 2022, it has a network of 164 branches spread across India which gives the company a pan-India presence and allows it to interact with and service its customers. As of September 30, 2022, it has a direct sales team of 2,200 employees who were located across its network.
    As on March 31, 2022, its Loan Book was Rs 61,589.26 crore and as on September 30, 2022, its Loan Book was Rs. 56,896.87 crore, on a consolidated basis.
    As at September 30, 2022, March 31, 2022, 2021 and 2020, its consolidated gross NPAs as a percentage of its consolidated Loan Book were 3.73%, 3.76%, 3.16% and 2.32%, respectively, and its consolidated net NPAs (which reflect our gross NPAs less provisions for ECL on NPAs (Stage 3) for the six months ended September 30, 2022 and years ended March 31, 2022, 2021 and 2020, as a percentage of its consolidated Loan Book, were 2.16% (Rs.1228.97 Cr approx), 2.21%, 1.90% and 1.56%, respectively.

    NCD PromoterIndiabulls housing finance NCD detailsMr. Sameer Gehlaut

    NCD Rating
    The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable” by CRISIL Ratings Limited and ICRA AA by ICRA Limited with such ratings considered to have a stable outlook.

    Indiabulls Housing Finance Tranche IV NCD Nov 2022 Details
    Issue Open Dec 1, 2022 – Dec 22, 2022
    Security Name Indiabulls Housing Finance Limited
    Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
    Issue Size (Base) Rs 100.00 Crores
    Issue Size (Shelf) Rs 1,400.00 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 and ICRA AA
    Tenor 24, 36 and 60 months
    Series Series I to VIII
    Payment Frequency Monthly, Annual and Cumulative
    Basis of Allotment First Come First Serve Basis
    NCD Allocation Ratio
    Category NCDs Allocated
    Institutional 30%
    Non-Institutional 10%
    HNI 30%
    Retail 30%
    NCDs offered by Category
    Category NCDs Reserved
    Institutional 300,000
    Non-Institutional 100,000
    HNI 300,000
    Retail 300,000
    Total NCD’s 1,000,000
    CoupenRates Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7 Series 8
    Frequency of Interest Payment Annual Monthly Cumulative Annual Monthly Cumulative Annual Monthly
    Nature Secured
    Tenor 24 months 24 months 24 months 36 months 36 months 36 months 60 months 60 months
    Coupon Rate (Retail) 9.30% 8.94% NA 9.55% 9.16% NA 9.80% 9.39%
    Effective Yield (% per Annum) 9.29% 9.30% 9.30% 9.54% 9.54% 9.55% 9.79% 9.80%
    Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,194.95 Rs 1,000 Rs 1,000 Rs 1,297.15 Rs 1,000 Rs 1,000

    Objects of the Issue
    The NCD purposes to raise funds for the following purposes:
    For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company.
    General corporate purposes.

    Financial Snapshot (Rs. In Crore)
    Period Ended Total Revenue Profit After Tax Net Worth
    31-Mar-20 13223.22 2165.92 15538
    31-Mar-21 10030.12 1201.59 16134
    31-Mar-22 8993.90 1177.74 16674
    Address of the Company
    Indiabulls Housing Finance Limited
    M 62&63, First Floor, Connaught Place,
    New Delhi 110 001, Delhi
    NCD Lead Managers
    Edelweiss Financial Services Ltd, A.K. Capital Services Limited, 
    IIFL Securities Ltd
    NCD Registrar
    Kfin Technologies Ltd

    Analysis & Guidance:
    To be on conservative side, the company has started curtailing its exposure to housing finance and accordingly, the total incomes and its net profits during last 3 years show down trend. The Net NPA of the company at the end of September 2022 is approx Rs.1229 Cr equivalent to its one year net profits. The Housing finance sector shows strong growth rates during last 18 months and the company is also expected to perform well. The coupon rates for different categories and different tenure are also very attractive. Invest reasonable amount based on your overall portfolio.

    Indiabulls Housing Finance Tranche IV NCD 
    Subscription Status on 8 Dec 2022 @ 3.30 pm
    Category Subscription (Times)
    Institutional 0.11
    Non-Institutional 0.01
    HNI 0.00
    Retail 0.00
    Total 0.03

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