IIFL Samasta Finance NCD – Tranche I Nov 2023

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 OpenDecember 4, 2023 – December 15, 2023
Security NameIIFL Samasta Finance Limited
Security TypeSecured, 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 Size10 NCD
Market Lot1 NCD
Listing AtBSE, NSE
Credit RatingCRISIL AA-/ Positive by CRISIL Ratings Limited
Tenor24, 36 and 60 Months
SeriesSeries I to VI
Payment FrequencyMonthly and Annually
Basis of AllotmentFirst Come First Serve Basis
Debenture Trustee/sBeacon Trusteeship Limited

IIFL Samasta Finance NCD Options and Coupon Rates

OptionTenureInterest PaymentCoupon RateEffective YieldMaturity Amount
Series 124 monthsMonthly9.21%9.59%₹ 1,000
Series 224 monthsAnnual9.60%9.59%₹ 1,000
Series 336 monthsMonthly9.57%9.99%₹ 1,000
Series 436 monthsAnnual10.00%9.99%₹ 1,000
Series 560 monthsMonthly10.03%10.49%₹ 1,000
Series 660 monthsAnnual10.50%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 Ended31 Mar 202331 Mar 202231 Mar 2021
Profit After Tax128.1850.6066.62
(Amount in ₹ Crore)

IIFL Samasta Finance NCD Allocation Ratio

Category NCD’s Allocated

NCD’s Offered by Category

Category NCD’s Reserved
Total NCD’s2,000,000

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

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

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

Leave a Comment

Your email address will not be published. Required fields are marked *