Indiabulls Housing Finance Limited NCD Company Profile:
Indiabulls Housing Finance Limited is a non-deposit taking housing finance company (“HFC”) registered with the NHB. They are also a notified financial institution under the SARFAESI Act and pre-dominantly offer housing loans and loans against property to their varied client base which comprises (1) salaried and employees; (ii) self-employed individuals; (iii) micro, small and medium-sized enterprises (“MSMEs”); and (iv) corporates. They focus primarily on long-term secured mortgage-backed loans. They also offer mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises. A majority of their Loan Book comprises housing loans, including in the affordable housing segment. As of March 31, 2023, housing loans and non-housing loans, on standalone basis, constituted 57% and 43%, respectively, of their loan Book. As on December 31, 2023, their Loan Book was 46,05459 Cr. on a standalone basis, and as on December 31, 2023, their Loan Book was 155,917.07 crores, on a consolidated basis.
Indiabulls Housing Finance Limited is coming up with a public issue by the company of secured, redeemable, non-convertible debentures of face value ₹ 1,000 each (“NCDs” or “debentures”), for an amount up to ₹100 crores (“base issue size”) with an option to retain oversubscription up to ₹100 crores, aggregating up to ₹200 crores is being offered by way of this prospectus. The issue opens for subscription on Monday, 13th May, 2024, and will close on Monday, 27th May, 2024. The allotment is on a first come first serve basis with the minimum application to be made is of 10 NCDs.
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Indiabulls Housing Finance Limited NCD Details
| Issue opens: | Monday, 13th May, 2024 | ||||
| Issue closes: | Monday, 27th May, 2024 | ||||
| Allotment: | First Come First Serve Basis | ||||
| Face Value: | ₹ 1,000 per NCD | ||||
| Nature of Instrument: | Secured Redeemable Non-Convertible Debenture (“NCDs”) | ||||
| Minimum Application: | 10 NCDs (₹ 10,000) & in multiple of 1 NCD | ||||
| Listing: | BSE & NSE | ||||
| Credit Rating: | CRISIL AA/Stable, ICRA AA/Stable | ||||
| Issue Size: | Public issue by Indiabulls Housing Finance Limited (“the Company”) of secured, rated, listed, redeemable, non-convertible debentures of face value of ₹ 1,000 each (“NCDs”) for an amount up to ₹100 crores (“Base Issue Size”) with an option to retain oversubscription up to ₹100 crores (“Green Shoe Option”), aggregating up to ₹200 crores. | ||||
| Registrar: | KFin Technologies Limited | ||||
| Category | I – Institutional (“QIB”) | II – Non-Institutional (“Corporates”) | III – High Net worth
Individual (“HNI”) (Amount aggregating to above ₹ 10 lakh) |
IV – Retail Individual (“Retail”) (Amount aggregating up to and including ₹ 10 lakh) | |
| Category Allocation of the overall Issue Size | 30% | 10% | 30% | 30% | |
| Bucket Size (₹) assuming Issue size of ₹ 200 Cr | ₹ 60 Cr | ₹ 20 Cr | ₹ 60 Cr | ₹ 60 Cr | |
Indiabulls Housing Finance Limited NCD
Application form
Specific Terms of the Prospectus:
The terms of the NCDs offered under the Issue are as follows:
| Series | I | II | III | IV** | V | VI | VII | VIII | IX | X | XI | XII |
| Frequency of Interest Payment | Annual | Monthly | Cumulative | Annual | Monthly | Cumulative | Annual | Monthly | Annual | Monthly | Annual | Monthly |
| 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) for NCD Holders in Category I & II | 9.25% | 8.88% | NA | 9.40% | 9.02% | NA | 9.65% | 9.25% | 10.00% | 9.57% | 10.25% | 9.80% |
| Coupon (% per annum) for NCD Holders in Category III & IV | 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) for NCD Holders in Category I & II | 9.25% | 9.25% | 9.25% | 9.40% | 9.40% | 9.40% | 9.65% | 9.65% | 10.00% | 10.00% | 10.25% | 10.24% |
| Effective Yield (% per annum) for NCD Holders in Category III & IV | 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 (₹ / NCD) on Maturity for NCD Holders in Category I & II | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,193.56/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,309.34/- | Staggered Redemption in Three (3) annual payments of
₹ 333.33 each starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Three (3) annual payments of
₹ 333.33 each starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Five (5) annual payments of
₹ 200 each, starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Five (5) annual payments of
₹ 200 each, starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Eight (8) annual payments of
₹ 125 each, starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Eight (8) annual payments of
₹ 125 each, starting from 3rd Anniversary * until Maturity |
| Amount (₹ / NCD) on Maturity for NCD Holders in Category III & IV | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,202.32/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,327.38/- | Staggered Redemption in Three (3) annual payments of
₹ 333.33 each starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Three (3) annual payments of
₹ 333.33 each starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Five (5) annual payments of
₹ 200 each, starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Five (5) annual payments of
₹ 200 each, starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Eight (8) annual payments of
₹ 125 each, starting from 3rd Anniversary * until Maturity |
Staggered Redemption in Eight (8) annual payments of
₹ 125 each, starting from 3rd Anniversary * until Maturity |
| Maturity / Redemption Date (from the Deemed Date of Allotment) | 24 Months | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 84 Months | 84 Months | 120 Months | 120 Months |
| Redemption Date / Redemption Schedule | 24 Months | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | Staggered Redemption by Face
Value as per “Principal Redemption Schedule and Redemption Amounts” |
Staggered Redemption by Face
Value as per “Principal Redemption Schedule and Redemption Amounts” |
Staggered Redemption by Face
Value “as per Principal Redemption Schedule and Redemption Amounts” |
Staggered Redemption by Face
Value as per “Principal Redemption Schedule and Redemption Amounts” |
Staggered Redemption by Face
Value as per “Principal Redemption Schedule and Redemption Amounts” |
Staggered Redemption by Face
Value as per “Principal Redemption Schedule and Redemption Amounts” |
** The Company shall allocate and allot Series IV NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.
For any queries related to the NCD, you can consult the team at Elite Wealth. Since Demat is mandatory for investing in this particular NCD, the investor must open a Demat account with a trusted broker like Elite Wealth.