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Indiabulls Commercial Credit Limited NCD (Indiabulls Commercial Credit NCD April 2023) Detail

April 3, 2023 - April 19, 2023
Indiabulls Commercial Credit Limited Logo

Incorporated in 2006, Delhi-based Indiabulls Commercial Credit Limited (ICCL) is a non-deposit-taking NBFC. It is a 100% subsidiary of Indiabulls Housing Finance Limited (IHFL), which itself rules as one of the largest housing finance companies in India.

The company is also a notified financial institution under the SARFAESI Act.

The company's primary focus is on long-term secured mortgage-backed loans. The offerings of the company can be categorized as:

  1. Retail mortgage loans to self-employed individuals, proprietorships, and small businesses
  2. Corporate mortgage loans to developers of residential projects

The customers of the company include salaried and self-employed individuals and small and medium businesses.

ICCL has a pan-India presence with offices in Tier I, Tier II, and Tier III cities. The company has a sales team of over 3,500 employees.

Now, the company is preparing to list its debt securities on the mainboard exchange and offer an additional opportunity for investment to investors.

Indiabulls Commercial Credit NCD April 2023 Detail

Issue Open April 3, 2023 - April 19, 2023
Security Name Indiabulls Commercial Credit Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 200.00 Crores
Issue Size (Shelf) Rs 1,000.00 Crores
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 1 NCD
Listing At BSE, NSE
Credit Rating CRISIL AA/Stable by CRISIL Ratings Limited and [ICRA]AA (Stable) by ICRA Limited.
Tenor 24, 36, and 60 Months

Series I to VIII

Payment Frequency Annual, Cumulative and Monthly
Basis of Allotment First Come First Serve Basis
Debenture Trustee/sBeacon Trusteeship Limited

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 30%
Non-Institutional 10%
HNI 30%
Retail 30%

NCD's Offered by Category

Category ? NCD's Reserved
Institutional 300,000
Non-Institutional 100,000
HNI 300,000
Retail 300,000
Total NCD's 1,000,000

Indiabulls Commercial Credit Limited NCD Coupon Rates

#Series 1Series 2Series 3Series 4Series 5Series 6Series 7Series 8
Frequency of Interest PaymentAnnualMonthlyCumulativeAnnualMonthlyCumulativeAnnualMonthly
Tenor24 Months24 Months24 Months36 Months36 Months36 Months60 Months60 Months
Coupon (% per Annum)10.00%9.57%NA10.25%9.80%NA10.50%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 1,000.00Rs 1,000.00Rs 1,201.55Rs 1,000.00Rs 1,000.00Rs 1,322.30Rs 1,000.00Rs 1,000.00

NCD Rating

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.

Company Promoters

Indiabulls Housing Finance Limited is the promoter of the company.

Company Financials

Indiabulls Commercial Credit Limited Financial Information (Restated Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet Worth
Amount in ₹ Crore

Objects of the Issue

The company proposes to utilise the funds towards funding the following 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.

Indiabulls Commercial Credit NCD April 2023 Prospectus

Indiabulls Commercial Credit NCD April 2023 Subscription Status

The Indiabulls Commercial Credit NCD April 2023 was subscribed 1.23 times on April 19, 2023 5:00:00 PM. The NCD subscribed 2.01 times in Retail, 0.17 times in HNI, 5.77 times in Non-Institutional, and 0.00 times in the Institutional category.

Category ?Subscription (times)

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Indiabulls Commercial Credit NCD April 2023 Rating

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Company Contact Information

Indiabulls Commercial Credit Limited
5th Floor, Building No. 27,
KG Marg, Connaught Place,
New Delhi-110001

Phone: +91 11 4353 2950

Indiabulls Commercial Credit NCD April 2023 Registrar

Kfin Technologies Limited
   KFintech, Tower-B, Plot No 31 & 32,
   Financial District, Nanakramguda, Gachibowli,
   Hyderabad, Telangana India - 500 032.

Phone: 04067162222, 04079611000

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