Indiabulls Housing Finance Limited opens for subscription on 05 March 2024. The company aims for a base issue size of ₹100 Crores.
About the company
The company is a non-deposit-taking housing finance company (HFC) registered with the NHB. It is also a notified financial institution under the SARFAESI Act. It primarily offers housing loans and loans against property to the target client base of salaried and self-employed individuals and micro, small, and medium-sized enterprises (MSMEs) and corporates. also offers mortgage loans to real estate developers in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises. A majority of its Loan Book comprises housing loans, including in the affordable housing segment.
As of 31 March 2023, housing loans and non-housing loans constituted 57% and 43%, 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. As of 30 September 2023, the company had a network of 218 branches spread across India which gives it a pan-India presence and allows it to interact with and service its customers. As of 30 September 2023, it had a direct sales team of 1,745 employees who were located across the network.
Objectives of the Issue
- For onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company; and
- General corporate purposes.
Indiabulls Housing Finance NCD Details
| Issue Open | March 5, 2024 – March 19, 2024 |
| Security Name | Indiabulls Housing Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 100 Crores |
| Issue Size (Oversubscription) | ₹ 100 Crores |
| Tranche Issue Size | ₹ 200 Crores |
| Issue Size (Shelf) | ₹ 2,000 Crores |
| Tranche Number | V |
| Issue Price | ₹ 1000 per NCD |
| Face Value | ₹ 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, 60, 84 and 120 Months |
| Series | Series I to XII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Idbi Trusteeship Services Ltd. |
Indiabulls Housing Finance NCD Options and 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) | ₹ 1,000 |
| Series 1 | 24 months | Annual | 9.65% (for categories 3 & 4) | 9.65% (for categories 3 & 4) | ₹ 1,000 |
| Series 2 | 24 months | Monthly | 8.88% (for categories 1 & 2) | 9.25% (for categories 1 & 2) | ₹ 1,000 |
| Series 2 | 24 months | Monthly | 9.25% (for categories 3 & 4) | 9.65% (for categories 3 & 4) | ₹ 1,000 |
| Series 3 | 24 months | Cumulative | NA | 9.25% (for categories 1 & 2) | ₹ 1,193.56 |
| Series 3 | 24 months | Cumulative | NA | 9.65% (for categories 3 & 4) | ₹ 1,202.32 |
| Series 4 | 36 months | Annual | 9.40% (for categories 1 & 2) | 9.40% (for categories 1 & 2) | ₹ 1,000 |
| Series 4 | 36 months | Annual | 9.90% (for categories 3 & 4) | 9.90% (for categories 3 & 4) | ₹ 1,000 |
| Series 5 | 36 months | Monthly | 9.02% (for categories 1 & 2) | 9.40% (for categories 1 & 2) | ₹ 1,000 |
| Series 5 | 36 months | Monthly | 9.48% (for categories 3 & 4) | 9.90% (for categories 3 & 4) | ₹ 1,000 |
| Series 6 | 36 months | Cumulative | NA | 9.40% (for categories 1 & 2) | ₹ 1,309.34 |
| Series 6 | 36 months | Cumulative | NA | 9.90% (for categories 3 & 4) | ₹ 1,327.38 |
| Series 7 | 60 months | Annual | 9.65% (for categories 1 & 2) | 9.65% (for categories 1 & 2) | ₹ 1,000 |
| Series 7 | 60 months | Annual | 10.15% (for categories 3 & 4) | 10.15% (for categories 3 & 4) | ₹ 1,000 |
| Series 8 | 60 months | Monthly | 9.25% (for categories 1 & 2) | 9.65% (for categories 1 & 2) | ₹ 1,000 |
| Series 8 | 60 months | Monthly | 9.71% (for categories 3 & 4) | 10.15% (for categories 3 & 4) | ₹ 1,000 |
| Series 9 | 84 months | Annual | 10.00% (for categories 1 & 2) | 10.00% (for categories 1 & 2) | ₹ 1,000 |
| Series 9 | 84 months | Annual | 10.50% (for categories 3 & 4) | 10.50% (for categories 3 & 4) | ₹ 1,000 |
| Series 10 | 84 months | Monthly | 9.57% (for categories 1 & 2) | 10.00% (for categories 1 & 2) | ₹ 1,000 |
| Series 10 | 84 months | Monthly | 10.03% (for categories 3 & 4) | 10.50% (for categories 3 & 4) | ₹ 1,000 |
| Series 11 | 120 months | Annual | 10.25% (for categories 1 & 2) | 10.25% (for categories 1 & 2) | ₹ 1,000 |
| Series 11 | 120 months | Annual | 10.75% (for categories 3 & 4) | 10.74% (for categories 3 & 4) | ₹ 1,000 |
| Series 12 | 120 months | Monthly | 9.80% (for categories 1 & 2) | 10.24% (for categories 1 & 2) | ₹ 1,000 |
| Series 12 | 120 months | Monthly | 10.25% (for categories 3 & 4) | 10.75% (for categories 3 & 4) | ₹ 1,000 |
Indiabulls Housing Finance 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 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 74,945.24 | 81,973.32 | 93,239.03 |
| Revenue | 8,725.79 | 8,993.90 | 10,030.12 |
| Profit After Tax | 1,127.68 | 1,177.74 | 1,201.59 |
| Reserves and Surplus | 18,353.75 | 17,678.34 | 17,255.64 |
Indiabulls Housing Finance NCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 300,000 |
| Non-Institutional | 100,000 |
| HNI | 300,000 |
| Retail | 300,000 |
| Total NCD’s | 1,000,000 |
Company Promoters
The Company has no identifiable promoters and is a professionally managed company.
Indiabulls Housing Finance NCD Lead Manager
- Nuvama Wealth Management Limited
- Elara Capital (India) Private Limited
- Trust Investment Advisors Private Limited
Indiabulls Housing Finance Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot No – 31 & 32,
Financial District, Nanakramguda,
Serilingampally, Hyderabad Rangareddi,
500 032, Telangana, India
Phone: +91 40 6716 2222
Email: ibhl.ncdipo@kfintech.com
Website: www.kfintech.com
Company 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 (NCDs) 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 decision.
Happy Investing
