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

Jan 5, 2023 - Jan 27, 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 January 2023 Detail

Issue Open Jan 5, 2023 - Jan 27, 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

Series I to VIII

Payment Frequency Annual, Cumulative and Monthly
Basis of Allotment First Come First Serve Basis
Debenture TrustiesBEACON 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

Coupon Rates

  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

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 Financials

Indiabulls Commercial Credit Limited Financial Information (Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet Worth
31-Mar-2016387.32191.2819.814406.95
31-Mar-2115873.261632.94139.044553.2
31-Mar-2213143.651841.88508.225064.84
Amount in ₹ Crore

Objects of the Issue

The Company proposes to utilize the funds to be raised through this Tranche I Issue 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; and
  2. General corporate purposes.

Indiabulls Commercial Credit NCD January 2023 Prospectus

Indiabulls Commercial Credit NCD January 2023 Subscription Status

The Indiabulls Commercial Credit NCD January 2023 was subscribed 1.23 times on Jan 27, 2023 5:00:00 PM. The NCD subscribed 2.19 times in Retail, 0.11 times in HNI, 5.37 times in Non-Institutional, and 0.00 times in the Institutional category.

Category ?Subscription (times)
Retail2.19x
HNI0.11x
Non-Institutional5.37x
Institutional0.00x
Total1.23x

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Indiabulls Commercial Credit NCD January 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
Email: helpdesk@indiabulls.com
Website: http://www.indiabullscommercialcredit.com/

Indiabulls Commercial Credit NCD January 2023 Registrar

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

Phone: 04067162222, 04079611000
Email: iccl.ncdipo@kfintech.com
Website: https://karisma.kfintech.com/


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