Indiabulls Commercial Credit NCD January 2023

Indiabulls Commercial Credit NCD opens for subscription from 05 January 2023. the company aims for a base issue size of ₹200 Crores.

Indiabulls Commercial Credit Limited

Incorporated in 2006, Indiabulls Commercial Credit is a non-deposit-taking NBFC registered with the RBI and a 100% subsidiary of IHFL, a listed housing finance company. It’s also a notified financial institution under the SARFAESI Act.

The company predominantly offers long-term mortgage loans, which comprise (a) retail mortgage loans to self-employed individuals, proprietorships, and small businesses and (b) corporate mortgage loans to developers of residential projects. As of 31 March 2022, its loan book was INR 10,950.3 crores, 74% of which comprised mortgage loans. Its target client base comprises salaried and self-employed individuals as well as small and medium-sized enterprises.

Indiabulls Commercial Credit offers mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance. Personal loans, as a product line of its business, have been discontinued and its vintage book is in run-down mode.

Objectives of the Issue

  • For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company; and
  • General corporate purposes.

Indiabulls Commercial Credit NCD January 2023 Details

Issue OpenJan 5, 2023 – Jan 27, 2023
Security NameIndiabulls Commercial Credit Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)Rs 200.00 Crores
Issue Size (Shelf)Rs 1,000.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE, NSE
Credit RatingCRISIL AA/Stable by CRISIL Ratings Limited and ICRA AA/ Stable by ICRA Limited.
Tenor24, 36, and 60 Months
SeriesSeries I to VIII
Payment FrequencyAnnual, Cumulative, and Monthly
Basis of AllotmentFirst Come First Serve Basis

Coupon Rates

OptionTenureInterest PaymentCoupon RateEffective YieldMaturity Amount
Series 124 monthsAnnual9.80%9.79%INR 1,000
Series 224 monthsCumulativeNA9.80%INR 1,197.15
Series 324 monthsMonthly9.40%9.80%INR 1,000
Series 436 monthsAnnual10.05%10.04%INR 1,000
Series 536 monthsCumulativeNA10.05%INR 1,315.10
Series 636 monthsMonthly9.61%10.04%INR 1,000
Series 760 monthsAnnual10.30%10.29%INR 1,000
Series 860 monthsMonthly9.85%10.30%INR 1,000

NCD Rating

The NCDs proposed to be issued under this Issue have been rated “CRISIL AA/Stable” (pronounced as CRISIL double A rating with stable outlook) by CRISIL Ratings and “[ICRA]AA (Stable)” (pronounced as ICRA double A rating with a stable outlook) by ICRA Limited. Instruments with this rating are considered to have a high degree of safety.

Company Financials

Period EndedTotal AssetsTotal RevenueProfit After TaxNet Worth
(Amount in ₹ Crore)

NCD Allocation Ratio

Category NCD’s Allocated

NCD’s Offered by Category

Category NCD’s Reserved
Total NCD’s1,000,000

Company Promoters

  • Indiabulls Housing Finance Limited

NCD Lead Manager

  • Edelweiss Financial Services Ltd
  • Elara Capital (India) Private
  • Trust Investment Advisors Private Limited

Indiabulls Commercial Credit NCD Registrar

Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222

Indiabulls Commercial Contact Details

One International Centre, Tower I,
18th Floor, Senapati Bapat Marg,
Elphinstone Road, Mumbai – 400 013, Maharashtra
Phone: +91 22 6189 1400

Final Thoughts

Non Convertible Debentures (NCD) are a better investment option for those who are looking for a diversified portfolio. investing in Indiabulls Commercial Credit NCD is purely your personal choice. make a good study and analysis before you make the investment.

Happy Investing

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