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| Issue Size (Base) | ₹200.00 Cr |
| Issue Size (Shelf) | ₹1000.00 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, and 60 Months |
| Credit 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 |
| 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 | ||||
Indiabulls Housing Finance Limited is the promoter of the company.
The company proposes to utilise the funds towards funding the following objects:
| # | Issue Objects |
|---|---|
| 1 | For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company; |
| 2 | General corporate purposes. |
| 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 |
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.
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.
