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While we have first mainline IPO of Loha Ispaat Ltd in the second week of March 2014, one more debt offer is also opening. Details of the same are as under:
India Infoline Housing Finance Ltd. (IIHFL) is a wholly-owned company of India Infoline Finance Ltd and primarily engaged in housing loans and loans against property. It is coming out with its second debt offer this fiscal. This time it is mulling base size of Rs. 100 crore with a green shoe option to retain hundred percent oversubscription to take the total size to Rs. 200 crore. Funds so mobilized will be used in lending and investment. Each Secured Redeemable Non Convertible Debentures are of face value of Rs. 1000 each and carries coupon rate of 12% and has tenure of six years. It has two options, monthly interest payment and cumulative. Under monthly interest payment and cumulative options, these bonds gives yield of 12.68% and 12.25% respectively. Minimum application is to be made for 10 NCDs and in multiple of 1 thereon, thereafter. Allotment is available in demat as well as in physical mode, but trading will take place only in demat mode.
This offer has been rated as CRISIL AA- (Stable) by CRISIL and ICRA/AA- by ICRA indicating high degree of safety regarding timely servicing of financial obligations and carry very low credit risk. The issue is lead managed by Axis Capital Ltd, India Infoline Ltd, Trust Investment Advisors Pvt. Ltd, RR Investors Capital Services Pvt. Ltd., Karvy Investors Services Ltd and SMC Capitals Ltd. Link Intime India Pvt. Ltd is the registrar to the issue and IDBI Trusteeship Services Ltd. are Debenture Trustee. Post allotment, these NCDs will be listed on BSE and NSE. Issue opens for subscription on 12.03.14 and will close on or before 24.03.14. As the group enjoys loyal family of investors, this issue too will get oversubscribed within a week of opening of the offer as has happened for all its past offers.
Moderate Investment recommended
Review By Dilip Davda on December 12, 2019
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Investors should bear in mind that any investment in stock markets are subject to unpredictable market related risks. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
About Dilip Davda
Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.
Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.
Email: dilip_davda@rediffmail.com
The IIHFL NCD Analysis helps you to understand about the company, offer detail, valuation, capital structure and financial performance. Our SEBI registered NCD Analysts tells you if IIHFL NCD worth investing. The IIHFL NCD Note sets the NCD expectations in systematic way which tells you if IIHFL NCD good to buy (good or bad / yes or no). The NCD Forecast tells you weather to invest in IIHFL NCD by providing NCD recommendations i.e. subscribe, avoid and neutral.
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