Aditya Birla Finance Limited NCD Company Profile:
Aditya Birla Finance Limited (“ABFL”), a division of Aditya Birla Capital Limited, is a well-known and varied provider of non-banking financial services in India. To a wide range of clients across the nation, ABFL provides end-to-end lending, financing, and asset management solutions. ABFL is one of India’s top five largest private diversified NBFCs based on AUM and is registered with the RBI as a systemically important non-deposit accepting non-banking finance company (“NBFC”). For the quarters ended June 30, 2023, ABFL had Rs. 119.36 billion in total equity and Rs. 858.91 billion in total assets under management. ICRA updated its assessment of ABFL’s long-term credit grade to AAA (Stable) in February 2023. Additionally, ICRA and India Ratings have assigned ABFL a long-term credit rating of AAA (Stable), a perpetual debt credit rating of AA+ (Stable), and a short-term credit rating of A1+. Retail, HNI, ultra HNI, micro-enterprises, SMEs, mid-sized corporations, and large corporations are just a few of the many groups of clients that ABFL serves. In the fields of personal finance, mortgage finance, small- and medium-sized business finance, corporate finance, wealth management, debt capital markets, and Loan Syndication.
Aditya Birla Finance Limited is coming out with a debt offering of Secured Redeemable Non-Convertible Debentures with a face value of Rs. 1000 each, Base Issue size of ₹ 1000 Crore with an option to retain oversubscription up to ₹ 1000 Crores aggregating up to ₹ 2000 crores being the Issue size. The issue opens for subscription on Wednesday, 27th September 2023, and will close on or before Thursday, 12th October 2023. The allotment is on a first come first serve basis with the minimum application to be made of 10 NCDs. A minimum of 75% of the Net Proceeds raised through this Issue will be utilized For the purpose of lending and the remaining 25% for general corporate purposes.
Aditya Birla Finance Limited NCD Details :
| Issue opens: | Wednesday, 27th September 2023 | ||||
| Issue closes: | Thursday, 12th October 2023 | ||||
| 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 1NCD | ||||
| Listing: | BSE & NSE | ||||
| Credit Rating: | IND AAA Outlook Stable by India Ratings and [ICRA]AAA (Stable) by ICRA | ||||
| Issue Size: | Public issue by Aditya Birla 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 ₹1,000 crores (“Base Issue Size”) with an option to retain oversubscription up to ₹1,000 crores (“Green Shoe Option”), aggregating up to 2,00,00,000 NCDs for an for an aggregate amount of up to ₹2,000 crores. | ||||
| Registrar: | Link Intime India Pvt Ltd | ||||
| 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 ₹ 2000 Cr | ₹ 500 Cr | ₹ 500 Cr | ₹ 500 Cr | ₹ 500 Cr | |
Aditya Birla Finance Limited NCD
Application form
The terms of the NCDs offered under the Issue are as follows:
Specific Terms of the Prospectus:
| Series | I | II | III* | IV | V | VI |
| Frequency of Interest Payment | Annual | Cumulative | Annual | Cumulative | Monthly | Annual |
| Tenor | 3 years | 3 years | 5 years | 5 years | 10 years | 10 years |
| Coupon (% per annum) for NCD Holders in all Categories | 8.00% | NA | 8.05% | NA | 7.80% | 8.10% |
| Effective Yield (% per annum) for NCD Holders in all Categories | 7.99% | 7.99% | 8.04% | 8.04% | 8.08% | 8.09 |
| Amount (₹ / NCD) on Maturity for NCD Holders in all Categories | ₹ 1,000/- | ₹ 1,259.71/- | ₹ 1,000/- | ₹ 1,472.73/- | ₹ 1,000/- | ₹ 1,000/- |
| Maturity / Redemption Date (from the Deemed Date of Allotment) | 3 years | 3 years | 5 years | 5 years | 10 years | 10 years |
*- The Company shall allocate and allot Series III NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series