Indiabulls Housing Finance NCD Tranche V opens for subscription from 03 March 2023. the company aims for a base issue size of ₹100 Crores.
Indiabulls Housing Finance Limited
Incorporated in 2005, the company engages in providing mortgage lending services. Indiabulls Housing Finance Limited is one of the largest housing finance companies in India and is the flagship company of Indiabulls Group. The company offers various services like Home Loans, Home Renovation Loans, Rural Home Loans, and Home Extension Loans among others.
As of September 30, 2022, The company has a network of 164 branches spread across India, which gives us a pan-India presence and allows us to interact with and service the customers. As of September 30, 2022, the company has a direct sales team of 2,200 employees who were located across the network. 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.
As of 31 March 2022, housing loans and non-housing loans constituted 62% and 38%, respectively of its Loan Book. It has now shifted to an asset-light business model, focusing on the co-lending of loans along with banks, other financial institutions, and credit funds and an increased sell-down of its loan portfolio.
Objectives of the Issue
- For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company;
- General corporate purposes.
Indiabulls Housing Finance Tranche V NCD Mar 2023 Details
| Issue Open | Mar 3, 2023 – Mar 17, 2023 |
| Security Name | Indiabulls Housing Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Shelf) | Rs 900.00 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, and 60 Months |
| Series | Series I to VIII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustees | IDBI TRUSTEESHIP SERVICES LTD. |
Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 24 months | Annual | 9.25% (for categories 1 & 2) | 9.24% (for categories 1 & 2) | INR 1,000 |
| Series 2 | 24 months | Annual | 9.65% (for categories 3 & 4) | 9.64% (for categories 3 & 4) | INR 1,000 |
| Series 3 | 24 months | Monthly | 8.88% (for categories 1 & 2) | 9.24% (for categories 1 & 2) | INR 1,000 |
| Series 4 | 24 months | Monthly | 9.25% (for categories 3 & 4) | 9.64% (for categories 3 & 4) | INR 1,000 |
| Series 5 | 24 months | Cumulative | NA | 9.25% (for categories 1 & 2) | INR 1,193.85 |
| Series 6 | 24 months | Cumulative | NA | 9.65% (for categories 3 & 4) | INR 1,202.65 |
| Series 7 | 36 months | Annual | 9.40% (for categories 1 & 2) | 9.39% (for categories 1 & 2) | INR 1,000 |
| Series 8 | 36 months | Annual | 9.90% (for categories 3 & 4) | 9.88% (for categories 3 & 4) | INR 1,000 |
| Series 9 | 36 months | Monthly | 9.02% (for categories 1 & 2) | 9.39% (for categories 1 & 2) | INR 1,000 |
| Series 10 | 36 months | Monthly | 9.48% (for categories 3 & 4) | 9.89% (for categories 3 & 4) | INR 1,000 |
| Series 11 | 36 months | Cumulative | NA | 9.40% (for categories 1 & 2) | INR 1,309.70 |
| Series 12 | 36 months | Cumulative | NA | 9.90% (for categories 3 & 4) | INR 1,327.75 |
| Series 13 | 60 months | Annual | 9.65% (for categories 1 & 2) | 9.64% (for categories 1 & 2) | INR 1,000 |
| Series 14 | 60 months | Annual | 10.15% (for categories 3 & 4) | 10.14% (for categories 3 & 4) | INR 1,000 |
| Series 15 | 60 months | Monthly | 9.25% (for categories 1 & 2) | 9.64% (for categories 1 & 2) | INR 1,000 |
| Series 16 | 60 months | Monthly | 9.71% (for categories 3 & 4) | 10.15% (for categories 3 & 4) | INR 1,000 |
NCD Rating
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.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-20 | 102,872.03 | 13,223.23 | 2,165.92 | 16,616.23 |
| 31-Mar-21 | 93,239.03 | 10,030.12 | 1,201.59 | 16,076.03 |
| 31-Mar-22 | 81,973.32 | 8,993.90 | 1,177.74 | 15,479.82 |
(Amount in ₹ Crore)
NCD Allocation Ratio
NCDs Offered by Category
Company Promoters
- Mr. Sameer Gehlaut
NCD Lead Manager
- Edelweiss Financial Services Ltd
- A.K. Capital Services Limited
- IIFL Securities Ltd
- Trust Investment Advisors Private Limited
Indiabulls Housing Finance NCD Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Email: iccl.ncdipo@kfintech.com
Website: www.kfintech.com
Indiabulls Commercial Contact Details
INDIABULLS HOUSING FINANCE LIMITED
One International Centre, Tower 1,
18th Floor, Senapati Bapat Marg,
Elphinstone Road, Mumbai – 400 013,
Maharashtra, India
Phone: +91 22 6189 1400
Email: helpdesk@indiabulls.com
Website: www.indiabullshomeloans.com
Final Thoughts
Non-Convertible Debentures (NCD) are a better investment option for those who are looking for a diversified portfolio. investing in Indiabulls Housing Finance NCD is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing
