IIFL Samasta Finance NCD opens for subscription from 04 December 2023. The company aims for a base issue size of ₹1000 Crores.
About the company
IIFL Samasta is an important Non-Banking Finance company – Micro Finance Institution (NBFC MFI) in India that offers innovative and affordable financial products to women who are enrolled as members and organized as a Joint Liability Group (JLG) from unbanked sections in society across rural, semi-urban and urban areas in India.
The company is a subsidiary of IIFL Finance Limited and offers a wide range of loans tailored for underserved individuals who lack access to traditional banking services and includes income generation loans (IGL), top-up loans, loans against property, micro-enterprise loans, lifestyle and family welfare loans such as dairy cattle loan, sanitation, and hygiene, acquisition of daily-use items like cook stoves, water purifiers, solar lights, mobile phones, and other products enhancing their way of life.
As of 30 September 2023, the company had a presence in 1,485 branches in 21 states and one union territory in India, serving an active customer base of 27.20 lakh, as of 30 September 2023. IIFL Samasta Finance’s average cost of borrowing in Fiscal 2023 and the six-month period ending 30 September 2023 were 9.98% and 10.49%, respectively. The AUM has grown by 62.75% from INR 6,483.84 crore as of 31 March 2022 to INR 10,552.12 crore as of 31 March 2023. The AUM as of 30 September 2023 is INR 12,195.93 crore.
Objectives of the Issue
- For onward lending, financing, and repayment of interest and principal of existing borrowings of the Company,
- General corporate purposes.
IIFL Samasta Finance NCD Details
| Issue Open | December 4, 2023 – December 15, 2023 |
| Security Name | IIFL Samasta Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 1,000.00 Crores |
| Issue Size (Shelf) | ₹ 2,000.00 Crores |
| Issue Price | ₹ 1000 per NCD |
| Face Value | ₹ 1000 for each NCD |
| Minimum Lot Size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL AA-/ Positive by CRISIL Ratings Limited |
| Tenor | 24, 36 and 60 Months |
| Series | Series I to VI |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
IIFL Samasta Finance NCD Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 24 months | Monthly | 9.21% | 9.59% | ₹ 1,000 |
| Series 2 | 24 months | Annual | 9.60% | 9.59% | ₹ 1,000 |
| Series 3 | 36 months | Monthly | 9.57% | 9.99% | ₹ 1,000 |
| Series 4 | 36 months | Annual | 10.00% | 9.99% | ₹ 1,000 |
| Series 5 | 60 months | Monthly | 10.03% | 10.49% | ₹ 1,000 |
| Series 6 | 60 months | Annual | 10.50% | 10.49% | ₹ 1,000 |
IIFL Samasta Finance NCD Rating
The NCDs proposed to be issued under this Issue have been rated CRISIL AA-/Positive by CRISIL Ratings Limited, with such ratings considered to have a stable outlook.
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,904.10 | 6,394.43 | 4,408.21 |
| Revenue | 1,753.51 | 1,019.93 | 702.20 |
| Profit After Tax | 128.18 | 50.60 | 66.62 |
IIFL Samasta Finance NCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 200,000 |
| Non-Institutional | 200,000 |
| HNI | 800,000 |
| Retail | 800,000 |
| Total NCD’s | 2,000,000 |
Company Promoters
- Narayanaswamy Venkatesh
- Shivaprakash Deviah
- IIFL Finance Limited
IIFL Samasta Finance NCD Lead Manager
- JM Financial Limited
- IIFL Securities Ltd
- Nuvama Wealth Management Limited
- Trust Investment Advisors Private Limited
IIFL Samasta Finance Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 810 811 4949
Email: iiflsamasta.ncd2023@linkintime.co.in
Website: www.linkintime.co.in
IIFL Samasta Finance Contact Details
IIFL SAMASTA FINANCE LIMITED
37A, Sannathi Street, Theradi, Thiruvottriyur,
Chennai 600019, Tamil Nadu, India
Phone: +91 80 4291 3588
Email: secretarial@iiflsamasta.com
Website: www.iiflsamasta.com
Final Thoughts
Non-convertible debentures (NCDs) are a better investment option for those who are looking for a diversified portfolio. investing in IIFL Samasta Finance NCD is purely your personal choice. make a good study and analysis before you make the investment decision.
Happy Investing
