Established in 1995, IIFL Finance Limited is a Mumbai-based Non-deposit taking Non-Banking Financial Company (“NBFC-ND-SI”), holding official registration with the Reserve Bank of India (RBI).
The company effectively serves a diverse clientele, offering an extensive spectrum of products including:
- Home loans
- Gold loans
- Business loans, encompassing loans against property and catering to medium and small enterprise financing
- Microfinance
- Financing solutions for construction and real estate ventures
- Capital market finance
This array of offerings caters comprehensively to both retail and corporate customers.
By March 31, 2023, March 31, 2022, and March 31, 2021, IIFL Finance Limited’s consolidated assets under management demonstrated impressive growth, amounting to ₹ 64,637.64 crores, ₹ 51,209.79 crores, and ₹ 44,688.03 crores, respectively.
IIFL Finance NCD Tranche II June 2023 Detail #
| Issue Open | Jun 9, 2023 – Jun 22, 2023 |
| Security Name | IIFL Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 300.00 Crores |
| Issue Size (Shelf) | Rs 5,000.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL AA/Stable by CRISIL Limited and ICRA AA (stable) by ICRA Limited. |
| Tenor | 24, 36 and 60 Months |
| Series | Series I to VII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vardhman Trusteeship Private Limited |
IIFL Finance Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 |
|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Cumulative | Annual | Cumulative | Monthly | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 8.35% | NA | 8.50% | NA | 8.65% | 9.00% | NA |
| Effective Yield (% per Annum) | 8.34% | 8.35% | 8.49% | 8.50% | 8.99% | 8.99% | 9.00% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,174.25 | Rs 1,000.00 | Rs 1,277.60 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,539.35 |
NCD Rating #
The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable by CRISIL Ratings Limited and ICRA AA (stable) by ICRA Limited. Such ratings indicated that the instruments are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.
Company Promoters #
Mr. Nirmal Bhanwarlal Jain and Mr. R. Venkatraman are the company promoters.
Company Financials #
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Reserves and Surplus |
|---|---|---|---|---|
| 31-Mar-21 | 40,662.05 | 5,968.04 | 760.81 | 53.38 |
| 31-Mar-22 | 45,910.44 | 7,023.61 | 1,188.25 | 64.07 |
| 31-Mar-23 | 53,001.33 | 8,447.11 | 1,607.55 | 89.08 |
| Amount in ₹ Crore | ||||
Objects of the Issue #
The company intends to utilize the proceeds from the net issue for the following objects:
- Onward lending, financing, and refinancing the existing indebtedness of the company (payment of the interest and/or repayment /prepayment of the principal of borrowings), and
- General Corporate Purposes.
IIFL Finance NCD Tranche II June 2023 Prospectus #
IIFL Finance NCD Tranche II June 2023 Subscription Status #
The IIFL Finance NCD Tranche II June 2023 was subscribed 1.79 times on Jun 22, 2023 5:00:00 PM. The NCD subscribed 1.71 times in Retail, 0.74 times in Non-Institutional, and 1.67 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 1.71x |
| Non-Institutional | 0.74x |
| Institutional | 1.67x |
| Total | 1.79x |
Check Day by Day Bidding Details
Company Contact Information #
IIFL House, Sun Infotech Park,
Road No. 16V, Plot No. B-23,
Thane Industrial Area, Wagle Estate, Thane – 400Phone: +91 22 4103 5000
Email: csteam@iifl.com
Website: http://www.iifl.com
IIFL Finance NCD Tranche II June 2023 Registrar #
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: iifl.ncd2022@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
IIFL Finance NCD Tranche II June 2023 Lead Manager(s) #
- Edelweiss Financial Services Ltd
- Trust Investment Advisors Private Limited
- Iifl Securities Ltd
- Equirus Capital Private Limited
