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| Issue Size (Base) | ₹200.00Cr |
| Issue Size (Shelf) | ₹2000.00Cr |
| 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 and 60 Months |
| Credit Rating | CRISIL AA-/Watch Developing by CRISIL Ratings Limited and 'ACUITE AA | Rating Watch Negative Implications' by Acuite Ratings & Rese |
| Series | Series I to VI |
| Payment Frequency | Monthly and Annually |
IIFL Samasta Finance Limited's revenue increased by 58.02% and profit after tax (PAT) rose by 292.45% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 11,400.26 | 8,904.10 |
| Revenue | 2,770.93 | 1,753.51 |
| Profit After Tax | 503.04 | 128.18 |
| Net Worth | 1,919.99 | 1,272.85 |
| Amount in ₹ Crore | ||
Mr. Narayanaswamy Venkatesh, Mr. Shivaprakash Deviah, and IIFL Finance Limited are the promoters of the company.
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
| # | Issue Objects |
|---|---|
| 1 | For onward lending, financing / refinancing the existing indebtedness of the company, and/or debt servicing (payment of interest and/or repayment/prepayment of interest and principal of existing borrowings of the company); and |
| 2 | General Corporate Purposes. |
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | |
|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Annual | Monthly | Annual | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 9.20% | 9.60% | 9.57% | 10.00% | 10.03% | 10.50% |
| Effective Yield (% per Annum) | 9.60% | 9.60% | 10.00% | 10.00% | 10.50% | 10.49% |
| Amount on Maturity (In Rs.) | 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 ratings of NCDs proposed to be issued under the terms of this Tranche II Prospectus have been revalidated to CRISIL AA-/Watch Developing (Continues on 'Rating Watch with Developing Implications') for an amount of ₹ 2,000 crore by CRISIL Ratings Limited vide their rating letter dated May 8, 2024 and 'ACUITE AA | Rating Watch Negative Implications' for an amount of ₹ 2,000 crore by Acuite Ratings & Research Limited vide their rating revalidation letter dated May 10, 2024.
IIFL Samasta Finance Limited is a systematically important non-banking financial company (without deposit-taking or holding company) - a microfinance institution (NBFC MFI) in India offering innovative and affordable financial products for women, enrolled as members and organized as a Joint Liability Group (“JLG”) from the non-bank dependent sections of the society including farmers, agricultural laborers, vegetable and flower vendors, cloth merchants, tailors, artisans and domestic workers and industrial workers in rural, semi-urban and urban areas in India.
They offer a wide range of loans tailored to underserved individuals who do not have access to traditional banking services. These include income-generating loans (for starting a new business or expanding an existing business), top-up loans, loans for real estate, micro-enterprise loans, loans for family lifestyle and welfare such as dairy cattle, sanitary and hygiene items, purchase of consumer durables such as cook stoves, water purifiers, solar lights, cell phones and other products that improve the quality of people's lives. Apart from financial services, the company also offers non-financial services such as life and health insurance and financial advisory services to provide comprehensive care to its valued customers.
The company primarily focuses on customers in rural India, who are largely denied access to the formal banking sector and represent a latent opportunity for offering microcredit. The company's products are based on a deep understanding of the needs of its customers (especially rural customers) developed over the years, as well as the flexibility of its products (in terms of ticket sizes, purposes and repayment options).
