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NCD Status: Closed [6th Jan 2023 to 18th Jan 2023]
IIFL Finance Limited issues secured and Redeemable NCD comprises Base issue size worth of Rs 1000.00 Cr and Shelf issue size of worth Rs 5000.00 Cr. The subscription is opening from 06 Jan 2023 to 18 Jan 2023. . The company issues series I to VII at an issue price of Rs. 1000 per NCD. One can subscribe to the NCD with a minimum ticket size of Rs. 10,000 (10 NCDs). The face value of each NCD is Rs 1000. The NCD tenor is 24, 36 and 60 months with a coupon rate ranging from 8.50% - 9.00% per annum.
Check more about the IIFL Finance Limited NCD 2023 including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 6th Jan 2023 |
| NCD Closing Date: | 18th Jan 2023 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹1000.00Cr |
| Issue Size (Shelf): | ₹5000.00Cr |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE, NSE |
| Tenor: | 24, 36, and 60 Months |
| Rating: | CRISIL AA/Stable by CRISIL Limited and ICRA AA (stable) by ICRA Limited. |
| Series: | Series I to VII |
| Payment Frequency: | Annual, Cumulative and Monthly |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 6th Jan 2023 |
| NCD Issue Close | 18th Jan 2023 |
| BSE Code: | 2885 |
| NSE Code: | IIFLS1 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 100000 | 10% |
| Non-Institutional | 100000 | 10% |
| HNI | 400000 | 40% |
| Retail | 400000 | 40% |
IIFL Finance Limited was incorporated at Mumbai on October 18, 1995, with the name Probity Research & Services Private Limited. This Company is a Systemically Important Non-deposit taking Non-Banking Financial Company ('NBFC-ND-SI') registered with the RBI, catering to the credit requirements of a diverse customer base with its plethora of products. They offerings include home loans, gold loans, business loans including loans against property and medium and small enterprise financing, micro finance, construction and real estate finance and capital market finance, catering to both retail and corporate clients.
During the three years ended September 30, 2022 and Fiscal 2022, the Company's total income, on a consolidated basis, amounted to Rs 40,266.16 million and Rs 70,062.79 million as compared to Rs 59,896.89 million for the Fiscal 2021 and Rs 49,261.25 million for the Fiscal 2020. Its profit before tax on a consolidated basis for the half year ended September 30, 2022 and for the Fiscal 2022 stood at Rs 9,633.43 million and Rs 15,359.84 million.
During the half year ended September 30, 2022 and Fiscal 2022, this Company's total income, on a standalone basis, amounted to Rs 20.103.79 million and Rs 40,892.54 million as compared to Rs 34,362.04 million for the Fiscal 2021 and Rs 26,712.00 million for the Fiscal 2020. The profit before tax on a standalone basis for the half year ended September 30, 2022 and Fiscal 2022 stood at Rs 5,032.36 million and Rs 9,673.75 million.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 34373.41 | 4926.12 | 503.47 | 4667.66 | 27098.68 |
| 31-Mar-21 | 40666.92 | 5989.69 | 760.81 | 5265.75 | 31595.37 |
| 31-Mar-22 | 45910.18 | 7006.28 | 1188.25 | 6279.76 | 35255.97 |
| Amount in ₹ Crore | |||||
The company proposes to utilize the funds for the following objects which are being raised through the Issue:
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 Rate (Retail) | 8.50% | NA | 8.75% | NA | 8.65% | 9.00% | NA |
| Effective Yield (% per Annum) | 8.49% | 8.50% | 8.74% | 8.75% | 9.00% | 8.99% | 9.00% |
| Amount on Maturity | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,286.45 | Rs 1,000.00 | Rs 1,227.00 | Rs 1,539.00 |
Mr. Nirmal Bhanwarlal Jain and Mr. R. Venkataraman are the promoters of the company.
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.
Last Updated on 2023-02-14T23:30:25+00:00
