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| Issue Size (Base) | ₹100.00 Cr |
| Issue Size (Shelf) | ₹3000.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE, NSE |
| Tenor | 24, 36, 60 and 84 Months |
| Credit Rating | CRISIL AA/Stable |
| Series | Series I to IX |
| Payment Frequency | Monthly and Annually |
IIFL Home Finance Limited's revenue increased by 21% and profit after tax (PAT) rose by 30% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 24,807.79 | 25,434.31 | 21,785.18 | 18,009.9 | ||||||||||||||||||||||||||||||||||||
| Revenue | 1,881.18 | 3,293.59 | 2,731.16 | 2,221.44 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 566.28 | 1,026.84 | 790.33 | 578 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 7,044.99 | 644.2 | 554.96 | 267.67 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 16,867.54 | |||||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
The objects of the Tranche I Issue and the amount proposed to be financed from Net Proceeds:
| # | Issue Objects |
|---|---|
| 1 | For onward lending, financing, and repayment/prepayment of interest and principal of existing borrowings. |
| 2 | General Corporate Purposes. |
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | |
|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | NA | Monthly | Annual | NA | Monthly | Annual | NA | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months | 84 Months |
| Coupon (% per Annum) | 8.85% | NA | 8.65% | 9% | NA | 8.9% | 9.25% | NA | 9.25% |
| Effective Yield (% per Annum) | 8.85% | 8.85% | 9% | 9% | 9% | 9.27% | 9.25% | 9.25% | 9.25% |
| Amount on Maturity (In Rs.) | Rs 1,000 | Rs 1,184.85 | Rs 1,000 | Rs 1,000 | Rs 1,295.2 | Rs 1,000 | Rs 1,000 | Rs 1,557 | Rs 1,000 |
CRISIL Ratings Limited has rated the Secured NCDs CRISIL AA/Stable (stable outlook) for Rs 3000 crores.
IIFL Home Finance Limited was founded in December 2006. The company is a technology-driven, retail-oriented housing finance company primarily focused on lending to first-time home buyers in the economically weaker sections (“EWS”) and low-income groups (“LIG”). The company lends to customers in the suburbs of Tier 1 and Tier 2 cities and to customers in Tier 3 and Tier 4 cities in India, using existing or owner-occupied residential property as collateral. The customers are employees and self-employed persons, who accounted for 52.33% and 47.67% of AUM respectively as at June 30, 2024. As at June 30, 2024, the company served over 4,10,878 customers.
The Company offers a range of mortgage-related loan products to its customers, including (i) residential loans for the purchase of completed residential units, properties under construction from licenced developers, construction of owner-occupied homes, improvements to pre-owned properties and the purchase of land for the construction of residential properties; (ii) secured commercial loans primarily for working capital needs, business use and the acquisition of commercial real estate; and (iii) affordable housing loans to cover the construction costs of affordable housing projects from reputable developers.
The company has an extensive network of 395 branches across 18 states and 2 Union Territories (and 2 Union Territories and 2 Union Territories as on June 30, 2024). The focus states include Delhi NCR, Gujarat, Andhra Pradesh, Telangana, Madhya Pradesh, Karnataka, Rajasthan, Maharashtra and Tamil Nadu.
