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NCD Status: Closed [3rd Apr 2023 to 19th Apr 2023]
Indiabulls Commercial Credit Limited issues secured and Redeemable NCD comprises Base issue size worth of Rs 200.00 Cr and Shelf issue size of worth Rs 1000.00 Cr. The subscription is opening from 03 Apr 2023 to 19 Apr 2023. The company issues series I to VIII 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 9.57% - 10.50% per annum.
Check more about the Indiabulls Commercial Credit Limited including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 3rd Apr 2023 |
| NCD Closing Date: | 19th Apr 2023 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹200.00Cr |
| Issue Size (Shelf): | ₹1000.00Cr |
| 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 Ratings Limited and [ICRA]AA (Stable) by ICRA Limited. |
| Series: | Series I to VIII |
| Payment Frequency: | Annual, Cumulative and Monthly |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 3rd Apr 2023 |
| NCD Issue Close | 19th Apr 2023 |
| BSE Code: | 2976 |
| BSE Script Symbol: | ICCL1 |
| NSE Code: | ICCL1 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 300000 | 30% |
| Non-Institutional | 100000 | 10% |
| HNI | 300000 | 30% |
| Retail | 300000 | 30% |
Indiabulls Commercial Credit Ltd, as an incorporated legal entity, came into existence on July 7, 2006. They are a non-deposit-taking NBFC registered with the RBI and a 100% subsidiary of IHFL, a listed housing finance company (HFC). They are also a notified financial institution under the SARFAESI Act.
Indiabulls Commercial Credit Ltd predominantly offer long-term mortgage loans, which comprise (a) retail mortgage loans to self-employed individuals, proprietorships, and small businesses; and (b) corporate mortgage loans to developers of residential projects. As of March 31, 2022, its Loan book was 10,950.30 crores, 74% of which comprised mortgage loans. Their target client base comprises salaried and self-employed individuals and small and medium-sized enterprises. They offer mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance. A personal loan, as a product line of its business, has been discontinued and its vintage book is in run-down mode.
They rely on long-term and medium-term borrowings from banks, including issuances of non-convertible debentures. They have a diversified lender base comprising public sector undertakings (PSU), private banks, mutual funds, provident funds, pension funds and others. They also sell down parts of their portfolio through securitization and direct assignment of loan receivables primarily to various banks, which results in an additional source of liquidity for us.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-20 | 16,387.30 | 2,191.28 | 19.81 | 4,406.95 |
| 31-Mar-21 | 15,873.26 | 1,632.94 | 139.04 | 4,553.20 |
| 31-Mar-22 | 13,143.65 | 1,841.88 | 508.22 | 5,064.84 |
| Amount in ₹ Crore | ||||
The company proposes to utilise the funds towards funding the following objects:
Indiabulls Commercial Credit Limited NCD Coupon Rates
| # | 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 | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 10.00% | 9.57% | NA | 10.25% | 9.80% | NA | 10.50% | 10.03% |
| Effective Yield (% per Annum) | 9.98% | 9.99% | 10.00% | 10.23% | 10.24% | 10.25% | 10.49% | 10.50% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,201.55 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,322.30 | Rs 1,000.00 | Rs 1,000.00 |
Indiabulls Housing Finance Limited is the promoter of the company.
The NCDs proposed to be issued under this Issue have been rated "CRISIL AA/Stable" (pronounced as CRISIL double A rating with stable outlook) by CRISIL Ratings and [ICRA]AA (Stable) (pronounced as ICRA double A rating with a stable outlook) by ICRA Limited. Instruments with this rating are considered to have high degree of safety.
Last Updated on 2023-04-22T03:30:20+00:00
