[.]| Listing at BSE, NSE | Fri, Jun 9, 2023 - Thu, Jun 22, 2023
IIFL Finance Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹5,000.00 Cr with a base issue size of ₹300.00 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.
IIFL Finance Ltd. NCD issue opens on Jun 9, 2023 and closes on Jun 22, 2023. 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 8.35% per annum to 9.00% per annum, depending on the series and tenure selected.
The NCD has been rated: .
Edelweiss Financial Services Ltd. is the Lead Manager to the issue, Vardhman Trusteeship Pvt.Ltd. is the Debenture Trustee, and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document and Shelf Prospectus for detailed information on risk factors, financials, and the terms of the issue.
IIFL Finance Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 |
|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Cumulative | Annual | Cumulative | Monthly | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 8.35% | NA | 8.50% | NA | 8.65% | 9.00% | NA |
| Effective Yield (% per Annum) | 8.34% | 8.35% | 8.49% | 8.50% | 8.99% | 8.99% | 9.00% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,174.25 | Rs 1,000.00 | Rs 1,277.60 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,539.35 |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Reserves and Surplus |
|---|---|---|---|---|
| 31-Mar-21 | 40,662.05 | 5,968.04 | 760.81 | 53.38 |
| 31-Mar-22 | 45,910.44 | 7,023.61 | 1,188.25 | 64.07 |
| 31-Mar-23 | 53,001.33 | 8,447.11 | 1,607.55 | 89.08 |
| Amount in ₹ Crore | ||||
Mr. Nirmal Bhanwarlal Jain and Mr. R. Venkatraman are the company promoters.
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 10.00% | 3,00,000 |
| Non-Institutional | 10.00% | 12,00,000 |
| HNI | 40.00% | |
| Retail | 40.00% | 12,00,000 |
| Total | 100.00% | 30,00,000 |
Incorporated in 1995, IIFL Finance Limited is a Mumbai-based Non-deposit taking Non-Banking Financial Company ("NBFC-ND-SI") registered with the RBI.
They cater to a wide customer base with their extensive range of products in the form of:
The customers of the company include both retail and corporate clients.
As at March 31, 2023, March 31, 2022, and March 31, 2021, the company's consolidated assets under management were ₹ 64,637.64 crores, ₹ 51,209.79 crores, and ₹ 44,688.03 crores, respectively.
The company intends to utilize the proceeds from the net issue for the following objects:
[Dilip Davda] IFL is one of the leading NBFCs catering to retail and corporate clients for credit requirements. It has posted steady growth in its working for the last three fiscals and thus has a sound track record. Investors looking for steady income may park funds for the medium to long term. Read detail review...
The IIFL Finance NCD Tranche II June 2023 was subscribed 1.79 times on Jun 22, 2023 17:00. The NCD subscribed 1.71 times in Retail, 0.74 times in Non-Institutional, and 1.67 times in Institutional category.
IIFL Finance Ltd.
IIFL House, Sun Infotech Park,
Road No. 16V, Plot No. B-23,
Thane Industrial Area, Wagle Estate, Thane – 400
Thane, Maharashtra
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.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
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 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:
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 IIFL Finance Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
