360 ONE Prime Limited NCD Company Profile:
360 ONE Prime Limited (Formerly known as IIFL Wealth Prime Limited) is an NBFC registered with the RBI, and a 100% subsidiary of 360 ONE WAM LIMITED (Formerly known as IIFL Wealth Management Limited). The company offers a range of lending solutions to its clients across the spectrum of structured leverage. The company’s loan book (₹ 5,310 crore) as of 30th September 2023 makes it the leading NBFC in India by asset size in the wealth management industry. The company is rated AA by ICRA, the hallmark of trust among large institutional investors. To date, the company has provided over 1,000 customers access to capital to facilitate investments in the markets, meet short-term working capital requirements, early-stage debt and even to undertake large acquisitions.
360 ONE Prime Limited is coming out with a debt offering of Secured Redeemable Non-Convertible Debentures with a face value of ₹ 1000 each, a Base Issue size of ₹ 100 Crore, and an option to retain oversubscription up to ₹ 400 Crore aggregating up to ₹ 500 crore. The issue opens for subscription on Friday, 24th May 2024, and will close on or before Thursday, 06th June 2024. The allotment is on a first come first serve basis with the minimum application to be made of 10 NCDs.
360 ONE Prime Limited NCD Details:
| Issue opens: | Friday, 24th May, 2024 | ||||
| Issue closes: | Thursday, 06th June, 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 | ||||
| Credit Rating: | CRISIL AA/Stable, ICRA AA/Stable | ||||
| Issue Size: | Public issue by 360 One Prime 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 ₹400 crores (“Green Shoe Option”), aggregating up to ₹500 crores. | ||||
| Registrar: | Link Intime India Private 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 | 25% | 25% | 25% | 25% | |
| Bucket Size (₹) assuming Issue size of ₹ 500 Cr | ₹ 125 Cr | ₹ 125 Cr | ₹ 125 Cr | ₹ 125 Cr | |
360 ONE Prime Limited NCD
Application form
The terms of the NCDs offered under the Issue are as follows:
| Series | I | II | III | IV | V | VI* | VII | VIII | IX | X |
| Frequency of Interest Payment | Monthly | Annual | Monthly | Annual | Monthly | Annual | Monthly | Annual | Monthly | Monthly |
| Tenor | 18 Months | 18 Months | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 120 Months | 120 Months |
| Coupon (% per annum) for NCD Holders in Category I, II, III, IV | 8.86% | 9.16% | 8.98% | 9.35% | 9.16% | 9.55% | 9.21% | 9.60% | 9.44% | 9.85% |
| Effective Yield (% per annum) for NCD Holders in Category I, II, III, IV | 9.22% | 9.23% | 9.36% | 9.35% | 9.55% | 9.55% | 9.60% | 9.60% | 9.86% | 9.84% |
| Amount (₹ / NCD) on Maturity for NCD Holders in Category I, II, III, IV | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- |
| Maturity / Redemption Date (from the Deemed Date of Allotment) | 18 Months | 18 Months | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 120 Months | 120 Months |
*- The Company shall allocate and allot Series VI NCDs (36 Months – Annual Option) wherein the Applicants have not indicated the choice of the relevant NCD Series.