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-I Issue size. The issue opens for subscription on Monday, 4th December 2023, and will close on or before Friday, 15th December 2023. 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:
| Tranche I Issue opens: | Monday, 4th December 2023 | ||||
| Tranche I Issue closes: | Friday, 15th December 2023 | ||||
| Allotment: | First Come First Serve Basis | ||||
| Face Value: | Rs.1,000 per NCD | ||||
| Nature of Instrument: | Secured Redeemable Non-Convertible Debentures | ||||
| Minimum Application: | 10 NCDs (Rs.10, 000) & in multiple of 1NCD | ||||
| Listing: | BSE & NSE | ||||
| Credit Rating | “CRISIL AA-/Positive” by CRISIL Ratings Limited and “Acuite AA/Stable” by Acuite Ratings and Research Limited | ||||
| Tranche-I Issue Size | ₹ 200 Crores (“Base Issue Size”), with a green shoe option up to ₹ 800 Crores amounting to ₹ 1000 Crores (“Tranche I Issue Limit”) | ||||
| Minimum Subscription: | Minimum subscription is 75% of the Base Issue, i.e., ₹ 150 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% | 10% | 40% | 40% | |
| Bucket Size (₹) assuming Issue size of ₹ 400 Cr₹ | ₹ 100 Cr | ₹ 100 Cr | ₹ 400 Cr | ₹ 400 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 Rate (% p.a.) for NCD Holders in: | ||||||
| Category I, II, III & IV | 9.21% | 9.60% | 9.57% | 10.00% | 10.03% | 10.50% |
| Effective Yield (% p.a.) for : | ||||||
| Category I, II, III & IV | 9.59% | 9.59% | 9.99% | 9.99% | 10.49% | 10.49% |
| Amount (₹ / NCD) on Maturity for ^ : | ||||||
| Category I, II, III & IV | ₹1,000 | ₹1,000 | ₹1,000 | ₹1,000 | ₹1,000 | ₹1,000 |
| Interest Frequency | Monthly | Annual | Monthly | Annual | Monthly | Annual |
*The Company shall allocate and allot Series III NCDs (III Option) 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.