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Incorporated in 2005, Indiabulls Housing Finance Limited provides mortgage lending services. It is a non-deposit-taking housing finance company ("HFC") registered with the NHB.
Indiabulls Housing Finance Limited is one of India's largest housing finance companies and is the flagship company of Indiabulls Group. The company offers housing loans and loans against property to (i) salaried employees; (ii) self-employed individuals; (iii) micro, small, and medium-sized enterprises ("MSMEs"), and (iv) corporates. It also offers mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises.
As of September 30, 2023, the company has a network of 218 branches spread across India. As of September 30, 2023, the company has a direct sales team of 1745 employees, on a consolidated basis. As of March 31, 2023, housing and non-housing loans, on a standalone basis, constituted 57% and 43%, respectively.
The company has a long-term credit rating of "AA; Outlook Stable" from CRISIL and ICRA, "AA; Outlook Negative" from CARE Ratings, and "AA+; Outlook Stable" from Brickwork Ratings for non-convertible debentures and subordinated debt program.
| Issue Open | December 7, 2023 - December 20, 2023 |
| Security Name | Indiabulls Housing Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 200.00 Crores |
| Issue Size (Shelf) | Rs 2,000.00 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, 60, 84 and 120 Months |
| Series | Series I to XII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Idbi Trusteeship Services Ltd. |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 30% |
| Non-Institutional | 10% |
| HNI | 30% |
| Retail | 30% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 300,000 |
| Non-Institutional | 100,000 |
| HNI | 300,000 |
| Retail | 300,000 |
| Total NCD's | 1,000,000 |
Indiabulls Housing Finance Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | Series 12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Monthly | Cumulative | Annual | Monthly | Cumulative | Annual | Monthly | Annual | Monthly | Annual | Monthly |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 84 Months | 84 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 9.65% | 9.25% | NA | 9.90% | 9.48% | NA | 10.15% | 9.71% | 10.50% | 10.03% | 10.75% | 10.25% |
| Effective Yield (% per Annum) | 9.64% | 9.64% | 9.65% | 9.89% | 9.89% | 9.90% | 10.14% | 10.14% | 10.49% | 10.49% | 10.74% | 10.74% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,202.65 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,327.75 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable by CRISIL Ratings Limited and ICRA AA (Stable) by ICRA Limited with such ratings considered to have a stable outlook.
The Company has no identifiable promoters and is a professionally managed company.
Indiabulls Housing Finance Limited's revenue decreased by -2.98% and profit after tax (PAT) dropped by -4.25% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 74,945.24 | 81,973.32 | 93,239.03 |
| Revenue | 8,725.79 | 8,993.90 | 10,030.12 |
| Profit After Tax | 1,127.68 | 1,177.74 | 1,201.59 |
| Net Worth | |||
| Reserves and Surplus | 18,353.75 | 17,678.34 | 17,255.64 |
| Total Borrowing | |||
| Amount in ₹ Crore | |||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
The Indiabulls Housing Fin. Tranche IV NCD Dec 2023 was subscribed 1.43 times on December 20, 2023 6:00:00 PM. The NCD subscribed 2.89 times in Retail, 1.40 times in HNI, 1.38 times in Non-Institutional, and 0.00 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 2.89x |
| HNI | 1.40x |
| Non-Institutional | 1.38x |
| Institutional | 0.00x |
| Total | 1.43x |
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Indiabulls Housing Finance Limited
5th Floor, Building No. 27,
KG Marg Connaught Place,
New Delhi – 110 001
Phone: +91 11 4353 2950
Email: helpdesk@indiabulls.com
Website: https://www.indiabullshomeloans.com/
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: ibhl.ncdipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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