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| Issue Size (Base) | ₹200.00Cr |
| Issue Size (Shelf) | ₹1000.00Cr |
| 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/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 | 16387.3 | 2191.28 | 19.81 | 4406.95 |
| 31-Mar-21 | 15873.26 | 1632.94 | 139.04 | 4553.2 |
| 31-Mar-22 | 13143.65 | 1841.88 | 508.22 | 5064.84 |
| Amount in ₹ Crore | ||||
The Company proposes to utilize the funds to be raised through this Tranche I Issue 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; and |
| 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 | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual | Monthly |
| Nature | Secured | |||||||
| Tenor | 24 months | 24 months | 24 months | 36 months | 36 months | 36 months | 60 months | 60 months |
| Coupon Rate (Retail) | 9.80% | NA | 9.40% | 10.05% | NA | 9.61% | 10.30% | 9.85% |
| Effective Yield (% per Annum) | 9.79% | 9.80% | 9.80% | 10.04% | 10.05% | 10.04% | 10.29% | 10.30% |
| Amount on Maturity | Rs 1,000 | Rs 1,197.15 | Rs 1,000 | Rs 1,000 | Rs 1,315.10 | Rs 1,000 | Rs 1,000 | Rs 1,000 |
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 Limited was incorporated in 2006. The name of the Company was changed to Indiabulls Infrastructure Credit Limited on January 21, 2009, and further changed to Indiabulls Commercial Credit Limited on March 12, 2015. 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.
IBCCL focus primarily on long-term secured mortgage-backed loans. They predominantly offer mortgage loans, which comprise loans against property and corporate mortgage loans, as well as personal loans. Its target client base comprises salaried and self-employed individuals as well as 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.
Indiabulls Commericial Ltd has implemented a robust risk management architecture which is reflected in our asset quality. Over years, They have studied and developed credit assessment models for various types of customers. This has helped us reduce subjectivity in forecasting the future income of potential customers, thus enabling robust credit underwriting. It has leveraged technology in various facets of its operations and have robust systems and processes to assist them with its underwriting and collections functions and to monitor asset quality.
