Incorporated in 1994, Mumbai based Indiabulls Consumer Finance Limited (ICFL) is a non-deposit taking NBFC. The company is a 100% subsidiary of Indiabulls Ventures Limited. It also has a product called 'Indiabulls Dhani', a completely online personal loan fulfilment offering.
IBCFL also offers business loans to small and medium businesses.
The company also offers online trading services. It has a client base of over 6 lacs customers. The company has a dedicated sales team of over 900 individuals in more than 18 cities. It also markets non-discretionary wealth management products through its subsidiaries.
The promoter of the company is Indiabulls Ventures Limited.
The objects of the issue are-
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.
»» Issue Open: Feb 4, 2019 - Mar 4, 2019
»» Issue Type: Fixed Price Issue NCD
»» Issue Size: 30,000,000 NCD's of Rs. 1000
»» Issue Size: Rs. 3,000.00 Crore
»» Face Value: Rs. 1000 Per NCD
»» Issue Price: Rs. 1000 Per NCD
»» Market Lot: 1 NCD
»» Minimum Order Quantity: 10 NCD
»» Listing At: BSE, NSE
This issue is rated CARE AA by CARE and BWR AA+ by Brickwork Ratings. The ratings of the NCDs indicate the highest degree of safety regarding timely servicing of financial obligations.
The company offers coupon rates ranging from 10.40% to 11% depending on the tenures of 26 months, 38 months and 60 months and the mode of interest payments are monthly, annual, cumulative as per investors choice.
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