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NCD Status: Closed [5th Mar 2024 to 19th Mar 2024]
Indiabulls Housing Finance Limited is issuing secured and redeemable NCDs with a base issue size of Rs 100.00 Cr and an oversubscription issue size of Rs 100.00 Cr. The subscription period is opening from 05 Mar Feb to 19 Mar 2024 and the company is issuing Series I to XIII at an issue price of Rs. 1000 per NCD. The lot size of NCD is about of 10 lots , so the total cost for NCD is Rs 10,000. The face value of each NCD is Rs. 1000 per NCD. The tenure of the NCDs is 365 days, 24, 36, 60, 84 and 120 months with a coupon rate of 9.25% to10.75% per annum.
Learn more about Indiabulls Housing Finance Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.
| NCD Opening Date: | 5th Mar 2024 |
| NCD Closing Date: | 19th Mar 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹100.00Cr |
| Issue Size (Shelf): | ₹2000.00Cr |
| 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, 60, 84 and 120 Months |
| Rating: | “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited. |
| Series: | Series I to XII |
| Payment Frequency: | Monthly, Annual and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 5th Mar 2024 |
| NCD Issue Close | 19th Mar 2024 |
| BSE Code: | 3343 |
| BSE Script Symbol: | IHFL12 |
| NSE Code: | IHFL12 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 300000 | 30% |
| Non-Institutional | 100000 | 10% |
| HNI | 300000 | 30% |
| Retail | 300000 | 30% |
Indiabulls Housing Finance Limited was incorporated in May 2005 and 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 mainly provides housing and real estate loans to a diversified customer base which includes (i) salaried employees, (ii) self-employed, (iii) micro, small and medium enterprises (“MSMEs”) and (iv) corporates. They focus primarily on long-term, mortgage-backed loans. In addition, they offer mortgage loans to real estate developers in India in the form of rent concessions for commercial premises and construction finance for the construction of residential buildings.
Their presence across India enables us to carry out loan processing, appraisal and customer relationship management efficiently and cost-effectively. As of March 31, 2023, the company has a direct sales team of 2,128 employees spread across the network. This sales team is instrumental in acquiring the majority of customers. The company also relies on external channels, such as direct sales agents, who refer potential customers to us.
The company has a diversified lender base consisting of public sector companies, private banks and other financial institutions. They also sell parts of their portfolio through securitization and/or direct assignment of loan receivables to various banks and other financial institutions, which is an important source of liquidity for us.
Indiabulls Housing Finance Limited's revenue decreased by -2.98% and profit after tax (PAT) dropped by -4.25% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 74,945.24 | 81,973.32 | 93,239.03 |
| Revenue | 8,725.79 | 8,993.90 | 10,030.12 |
| Profit After Tax | 1,127.68 | 1,177.74 | 1,201.59 |
| Reserves and Surplus | 18,353.75 | 17,678.34 | 17,255.64 |
| Amount in ₹ Crore | |||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Indiabulls Housing Finance Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | Series 12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Monthly | Cumulative | Annual | Monthly | Cumulative | Annual | Monthly | Annual | Monthly | Annual | Monthly |
| Nature | Secured | Secured | Secured | Secured | 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 | 84 Months | 84 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 9.65% | 9.25% | NA | 9.90% | 9.48% | NA | 10.15% | 9.71% | 10.50% | 10.03% | 10.75% | 10.25% |
| Effective Yield (% per Annum) | 9.65% | 9.65% | 9.65% | 9.90% | 9.90% | 9.90% | 10.15% | 10.15% | 10.50% | 10.50% | 10.74% | 10.75% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,202.32 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,327.38 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
The Company has no identifiable promoters and is a professionally managed 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 with such ratings considered to have a stable outlook.
Last Updated on 2024-03-22T06:33:17+00:00
