IIFL Samasta Finance Limited NCD
IIFL Samasta Finance Limited is a systematically important Non-Banking Finance (non – deposit accepting or holding) Company – Micro Finance Institution (NBFC MFI) in India that offers innovative and affordable financial products to women who are enrolled as members and organized as Joint Liability Group (“JLG”) from unbanked sections in society including encompassing cultivators, agricultural laborers, vegetable and flower vendors, cloth traders, tailors, craftsmen, as well as household and industrial workers across rural, semi urban and urban areas in India.
IIFL Samasta Finance 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 ₹ 200 Crores, and an option to retain oversubscription up to ₹ 800 Crores aggregating up to ₹ 1000 crores, being the Tranche-II Issue size. The issue opens for subscription on Monday, 03rd June 2024, and will close on or before Friday, 14th June 2024. The allotment is on a first come first serve basis with the minimum application to be made is of 10 NCDs.
IIFL Samasta Finance Limited NCD Details:
| Issue opens: | Monday, 03rd June, 2024 | ||||
| Issue closes: | Friday, 14th 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 thereafter | ||||
| Listing: | BSE | ||||
| Credit Rating: | CRISIL AA-/Stable, ACUITE AA | ||||
| Issue Size: | Public issue by IIFL Samasta 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 ₹800 crores (“Green Shoe Option”), aggregating up to ₹1000 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 | 10% | 30% | 30% | 30% | |
| Bucket Size (₹) assuming Issue size of ₹ 1000 Cr | ₹ 100 Cr | ₹ 300 Cr | ₹ 300 Cr | ₹ 200 Cr | |
IIFL Samasta Finance Limited NCD
Application form
IIFL Samasta Finance Limited NCD Specific Terms of the Prospectus:
The terms of the NCDs offered under the Issue are as follows:
| Series | I | II | III* | IV | V | VI |
| Frequency of Interest Payment | Monthly | Annual | Monthly | Annual | Monthly | Annual |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months |
| Coupon (% per annum) for NCD Holders in all Categories | 9.20% | 9.60% | 9.57% | 10.00% | 10.03% | 10.50% |
| Effective Yield (% per annum) for NCD Holders in all Categories | 9.60% | 9.60% | 10.00% | 10.00% | 10.50% | 10.49% |
| Amount (₹ / NCD) on Maturity for NCD Holders in all Categories | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- | ₹ 1,000/- |
*The Company shall allocate and allot Series III NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.
IIFL Samasta Finance Limited NCD Conclusion:
With nominal returns potentially going into double digits, this is an attractive proposition due to the current scenarios from a return perspective, which will provide a regular monthly income for up to 5 years. The allotment is on a first come first serve basis. As the NCD is going to be listed on BSE as well as NSE one can always encash the amount invested as one desires, and due to the availability of the NCD in only Demat form, one must have a Demat account opened to apply.