Incorporated in 2006, Mumbai based Indiabulls Commercial Credit Limited (ICCL) is a non-deposit taking NBFC. rIt is a 100% subsidiary of Indiabulls Housing Finance Limited (IHFL), one of the largest housing finance companies in India.
The company's primary focus is on long-term secured mortgage-backed loans. It offers loans against the property to salaried and self-employed individuals, small and medium-sized enterprises. It also offers mortgage loans to real estate developers in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises.
ICCL has a pan-India presence across with offices in Tier I, Tier II and Tier III cities. The company has a sales team of over 3,500 employees.
As of March 31, 2018, mortgage loans constitutes 98.21% of the company's Asset Under Management (AUM).
It has a diversified lender base including PSUs, private banks, provident funds, pension funds, and mutual funds.
The gross non-performing assets (NPAs) as a percentage of the AUM for fiscal 2018, 2017 and 2016 were 0.60%, 1.78%, and 2.25% respectively. The net NPAs as a percentage of the AUM for fiscal 2018, 2017 and 2016 was 0.40%, 1.34%, and 1.76%, respectively.
|Issue Open||Sep 11, 2018 - Sep 14, 2018|
|Security Name||Indiabulls Commercial Credit Limited|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)|
|Issue Size (Base)||Rs 2,000.00 Crores|
|Issue Size (Shelf)||Rs [.] 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|
|Basis of Allotment|
|High Net Worth Individual Investors Portion|
|Retail Individual Investors Portion|
The promoter of the company is Indiabulls Housing Finance Limited (IHFL). It was incorporated on May 10, 2005. IHFL, one of the largest housing finance company in India, focuses primarily on long-term secured mortgage-backed loans.
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.
This issue is rated CRISIL/AAA-Stable by CRISIL and CARE/AAA-Stable by CARE. The ratings of the NCDs indicate the highest degree of safety regarding timely servicing of financial obligations.
The company offers coupon rates ranging from 8.57% to 0.20% depending on the tenures and the mode of interest payments are monthly, annual, cumulative as per investors choice.
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