Indiabulls Housing Finance NCD opens for subscription on 13 May 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 repayment of interest and principal of existing borrowings of the company.
- General corporate purposes.
Indiabulls Housing Finance NCD Details
| Issue Open | May 13, 2024 – May 27, 2024 |
| Security Name | Indiabulls Housing Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 100.00 Crores |
| Issue Size (Oversubscription) | ₹ 100.00 Crores |
| Tranche Issue Size | ₹ 200.00 Crores |
| Issue Size (Shelf) | ₹ 2,000.00 Crores |
| Tranche Number | VI |
| 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
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | Series 12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Monthly | Cumulative | Annual | Monthly | Cumulative | Annual | Monthly | Annual | Monthly | Annual | Monthly |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 84 Months | 84 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 9.65% | 9.25% | NA | 9.90% | 9.48% | NA | 10.15% | 9.71% | 10.50% | 10.03% | 10.75% | 10.25% |
| Effective Yield (% per Annum) | 9.65% | 9.65% | 9.65% | 9.90% | 9.90% | 9.90% | 10.15% | 10.15% | 10.50% | 10.50% | 10.74% | 10.75% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,202.32 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,327.38 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
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.
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 does not have promotors.
NCD Lead Manager
- Nuvama Wealth Management Limited
- Elara Capital (India) Private Limited Trust Investment Advisors Private Limited
NCD 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
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
Indiabulls Housing Finance NCD Documents
- Indiabulls Housing Finance NCD Tranche VI Prospectus
- Indiabulls Housing Finance NCD Draft Prospectus
Indiabulls Housing Finance NCD Subscription Status (no. of times)
| Date | QIB | NII | HNI | Retail | Total |
|---|---|---|---|---|---|
| 27 May 2024 | 0.00 | 4.55 | 1.43 | 2.76 | 1.71 |
| 24 May 2024 | 0.00 | 1.47 | 0.90 | 2.22 | 1.08 |
| 23 May 2024 | 0.00 | 1.47 | 0.86 | 1.98 | 1.00 |
| 22 May 2024 | 0.00 | 1.47 | 0.76 | 1.79 | 0.91 |
| 21 May 2024 | 0.00 | 1.47 | 0.73 | 1.63 | 0.85 |
| 17 May 2024 | 0.00 | 1.39 | 0.53 | 1.15 | 0.64 |
| 16 May 2024 | 0.00 | 1.19 | 0.40 | 0.84 | 0.49 |
| 15 May 2024 | 0.00 | 1.19 | 0.30 | 0.58 | 0.39 |
| 14 May 2024 | 0.00 | 1.09 | 0.20 | 0.30 | 0.26 |
| 13 May 2024 | 0.00 | 1.09 | 0.11 | 0.11 | 0.18 |
NCD Allotment Status
Indiabulls Housing Finance NCD May 2024 allotment status will be available on KFin Technologies’ website. Click on this link to get allotment status.
Final Thoughts
Non-convertible debentures (NCDs) are a better investment option for those seeking 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
