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IFCI Ltd. NCD (IFCI Ltd NCD January 2015) Detail

[.]| Listing at BSE, NSE | Thu, Jan 1, 2015 - Wed, Feb 4, 2015

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IFCI Ltd. NCD issue is a public issue of , issued under a Shelf Prospectus of ₹[.] Cr with a base issue size of ₹250.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.

IFCI Ltd. NCD issue opens on Jan 1, 2015 and closes on Feb 4, 2015. NCD are proposed to be listed on NSE and BSE.

The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.

The issue offers interest rates ranging from per annum to per annum, depending on the series and tenure selected.

A.K.Capital Services Ltd. is the Lead Manager to the issue, is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.

Investors are advised to refer to the [.] for detailed information on risk factors, financials, and the terms of the issue.

Open Date

Thu, Jan 1, 2015

Close Date

Wed, Feb 4, 2015

Issue Size (Overall)

[.]

Coupon Rate

Upto null% p.a.

NCD Detail

About IFCI Ltd.

IFCI Ltd (formerly known as Industrial Finance Corporation of India Ltd) is a Government of India promoted and controlled finance Sector Company that is coming out with its maiden debt offer.

Other Details

Ratings

Issue is rated as ICRA A (Stable); BWR AA- (Outlook - Stable) by respective rating agencies indicating adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

Offerings

This issue has four series and tenure of 5 and 10 years with interest payment options of annual and on redemption basis as per the choice of investors. It offers interest rates ranging between 9.35% and 9.40% with an additional incentive of 0.10% for Series I and III giving effective yield of 9.45% and 9.50%. Allotment is available in demat and physical mode but trading will take place in demat mode only.

NCD Review

[Dilip Davda]

As per recent reports, Government of India is allowed to raise its stake to 51%. Market is pinning hope for rate cut and FM is also recommending for rate cut by RBI. Considering all these, this issue is worth subscribing as inflation is expected to cool down below 5% from next year and GDP is expected to see 6% plus.

Read detail review...

NCD Subscription Status

Sorry, we couldn't find the subscription details. Please revisit us for live bidding.

Company Contact Information

IFCI Ltd.
IFCI Tower,
61 Nehru Place,
New Delhi - 110019
New Delhi, New Delhi, 110019

NCD Registrar

Kfin Technologies Ltd.

NCD Lead Manager(s)

  1. A.K.Capital Services Ltd.
  2. Edelweiss Financial Services Ltd.
  3. RR Investors Capital Services Pvt.Ltd.
  4. SBI Capital Markets Ltd.

Quick/Useful Links

Open an Instant Account with Zerodha

NCD FAQs

NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.

To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.

Steps to invest in NCD IPO through GoldenPi

Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.

  1. Visit www.goldenpi.com
  2. Look for the "Collections" tab.
  3. Click on Best Ongoing IPOs.
  4. Select the desired NCD IPO.
  5. Select the series and investment quantity.
  6. Enter your name, email ID and mobile number for verification.
  7. Enter PAN and demat account details,
  8. Enter the UPI ID.
  9. Click on "Apply IPO".
  10. Approve the UPI mandate.

Steps to apply for NCD IPO with Indiabonds:

  1. Visit www.indiabonds.com
  2. Look for the ‘Products’ section on the home page.
  3. Go to Public Issue
  4. Select the desired NCD.
  5. Click on ‘Apply Now’.
  6. Select the investor type and category.
  7. Select the investment series and enter the quantity.
  8. Click on Invest.
  9. Enter the personal details, i.e. name, date of birth, e-mail, contact, address, demat information and payment details.
  10. Preview and confirm the form.
  11. Confirm the UPI mandate upon receipt.

You can buy or invest in NCD IPOs through the following intermediaries:

  1. Registered stock brokers, for example, Angel Broking.
  2. Self-certified underwriters.
  3. Depository Participants.
  4. NSE platform - NSEgoBid.
  5. BSE platform - BSEDirect.

The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.

Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.

Important links : 

Read more about NCD Application Process.

The coupon rates for IFCI Ltd. NCDs vary depending on the series and tenure.

The minimum amount required for NCD investment is Rs. 10,000.

Generally, the minimum lot size of NCD is 10, and the face value is 1,000.

NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.

Steps to check the NCD allotment status at the BSE:

  • Visit the BSE status of the issue application page.
  • Select the Issue type - Debt.
  • Select the Issue name from the drop-down list.
  • Enter your application number or PAN.
  • Tick ‘I’m not a robot’ button.
  • Click on Search.

Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.

Generally, all applicants receive full allotment due to the retention of the oversubscription option.

Read more information on NCD Subscription and NCD Allotment Process.

No, you cannot withdraw or redeem IFCI Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:

  1. Listing on Stock Exchange (Secondary Market Sale)

If the NCDs are listed on stock exchanges (like BSE/NSE), you can:

  • Sell them on the exchange before maturity, just like shares.
  1. Early redemption by the company

Only possible if a "call option" exists.

Read more about NCD Subscription and Allotment Process

Bid Cancellation and Withdrawal Policy for NCD Applicants

  • Before Issue Closure:
    Applicants are allowed to cancel their bid at any time before the issue closing date.
  • After Issue Closure:
    Some issuers may permit bid withdrawal even after the issue has closed.
    In such cases, the applicant must:
    • Submit a withdrawal request to the Registrar to the Issue.
    • Ensure the request is made before the finalisation of the Basis of Allotment.
    • Submit the request no later than two working days from the date of issue closure (or early closure, if applicable).

Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.

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