Coupon Rate of up to 9.75% per annum*
- Security cover of 1.25 times on the principal amount and interest thereon
- Tranche I Issue rated as ‘CRISIL AA/Stable (double A: Stable) by CRISIL Ratings Limited and BWR AA+/Negative (double A plus/Negative) by Brickworks Ratings Pvt Ltd
- Tranche I Issue opens on September 06, 2021 and closes on September 20, 2021**
- Trading in dematerialized form only
- Allotment on first -come- first-serve-basis
- The NCDs are proposed to be listed on BSE and NSE.
Mumbai, 03 September, 2021: Indiabulls Housing Finance Limited, a housing finance company regulated by the Reserve Bank of India, has announced the public issue of secured/ and or unsecured, redeemable, non-convertible debentures of the face value of Rs. 1,000 each. The Tranche I Issue opens on September 06, 2021 and closes on September 20, 2021.
The Tranche I Issue has a base issue size of Rs. 200 crores with a green shoe option up to Rs. 800 crores, aggregating up to Rs. 1,000 crores (“Tranche I Issue”). The Tranche I Issue offers various options for subscription with coupon rates ranging from 8.05% to 9.75% per annum. There are 10 Series of NCDs carrying fixed coupon and having tenures ranging 24 months, 36 months, 60 months and 87 months with annual, monthly and cumulative option.
The NCDs are proposed to be listed on BSE and NSE (collectively, “Stock Exchanges”) with BSE as the Designated Stock Exchange for the Issue. The NCDs have been rated CRISIL AA/Stable by CRISIL Ratings Limited and BWR AA+ / Negative by Brickwork Ratings India Private Limited.
An additional incentive maximum of 0.25% p.a. will be offered for Category III (HNI) and Category IV (Retail) Investors in the proposed Issue, who are also holders of NCD(s)/ Bond(s) previously issued by the Company, and/ or its Subsidiaries as the case may be, and/or are equity shareholder(s) of Indiabulls Housing Finance Limited as the case may be on the deemed date of allotment.
The Lead Managers to the issue are Edelweiss Financial Services Limited, IIFL Securities Limited and Trust Investment Advisors Private Limited.
At least 75% of the funds raised through this Tranche I Issue will be used for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company and the balance is proposed to be utilized for general corporate purposes, subject to such utilization not exceeding 25% of the amount raised in the Tranche I Issue. The unsecured NCDs are in the nature of subordinated debt and will be eligible for Tier II capital.
