Coupon Rate Up to 9.80% p.a., Effective Yield Up to 9.80% p.m.
- Public difficulty of secured redeemable non-convertible debentures (“NCDs”) of face worth and difficulty worth of Rs. 1,000 every
- The Tranche IV Issue features a base difficulty measurement of Rs. 100 crores with an choice to retain oversubscription as much as Rs. 900 crores aggregating as much as Rs. 1,000 crores (“Tranche IV Issue”)
- NCDs proposed to be issued pursuant to the Tranche IV Issue are rated as “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited
- Tenor choices: 24 months, 36 months & 60 months with month-to-month, annual and cumulative coupon Payment Options
- Staggered Redemption Options for 36 months & 60 months; Coupon price as much as 9.80% p.a. and Effective Yield as much as 9.80% p.m.#
- The Tranche IV Issue opens on Thursday, December 01, 2022 and closes on Thursday, December 22, 2022 **
- Allotment on First come First serve foundation*
- The NCDs are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. BSE is the designated inventory trade for the Tranche IV Issue.
Mumbai, December 01, 2022: Headquartered in New Delhi, Indiabulls Housing Finance Limited (“Company” or “Issuer”), a non-deposit taking housing finance firm registered with the National Housing Bank, has introduced the general public difficulty of secured, redeemable, non-convertible debentures of the face worth of ₹ 1,000 every (“NCDs”). The Tranche IV Issue opens on Thursday, December 01, 2022 and closes on Thursday, December 22, 2022.
The Tranche IV Issue has a base difficulty measurement of ₹ 100 crores with an choice to retain oversubscription as much as ₹ 900 crores, aggregating as much as ₹ 1,000 crores (“Tranche IV Issue”). The Tranche IV Issue affords varied collection of NCDs for subscription with coupon charges starting from 8.57% to 9.80% every year. The NCDs are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India (“NSE” along with BSE, the “Stock Exchanges”) with BSE because the Designated Stock Exchange for the Tranche IV Issue. The NCDs have been rated “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited.
The NCDs beneath the Tranche IV Issue have tenures of 24 months (Series I, II, III), 36 months (Series IV, V, VI), and 60 months (Series VII, VIII). Effective yield (every year) for the NCD holders in Category I (Institutional Investors) & Category II (Non-Institutional Investors) ranges from 8.89% to 9.30% and for Category III (High Net-worth Individual Investors) and Category IV (Retail Individual Investors) holders ranges from 9.29% to 9.80%. Interest fee modes for the NCDs are yearly, month-to-month or cumulative as per the collection chosen by the buyers. Amount on maturity for the NCD holders in Category I (Institutional Investors) & Category II (Non-Institutional Investors) ranges from ₹ 1,000 to ₹ 1,297.15 per NCD and for Category III (High Net-worth Individual Investors) and Category IV (Retail Individual Investors) ranges from ₹ 1,000 to ₹ 1,315.10 per NCD. The Tranche IV Issue choice for has staggered redemption by face worth by way of annual funds beneath 36 months (Series IV and Series V) and 60 months (Series VII and Series VIII).
The Company can also be providing a further incentive of 0.25% to the Category III and Category IV Investors within the proposed Tranche IV Issue who’re additionally holders of NCD(s)/bond(s) beforehand issued by Company, and/or its Subsidiaries because the case could also be, and/or are fairness shareholder(s) of Indiabulls Housing Finance Limited because the case could also be (“Primary Holder(s)”) on the Deemed Date of Allotment
The Lead Managers to the Tranche IV Issue are Edelweiss Financial Services Limited, A. Okay. Capital Services Limited, IIFL Securities Limited and Trust Investment Advisors Private Limited. IDBI Trusteeship Services Limited is the Debenture Trustee to the Tranche IV Issue and KFin Technologies Limited is the registrar to the difficulty.
Net proceeds of the Tranche IV Issue, after assembly the expenditures of and associated to the Tranche IV Issue, not less than 75% shall be utilised for the aim of onward lending, financing, and for compensation of curiosity and principal of present borrowings of the Company and as much as 25% for common company functions.
As at September 30, 2022, the consolidated money and money equivalents of the Company was ₹ 3,941.51 crores and the Borrowings (apart from Debt Securities) was ₹ 30,264.10 crores on steadiness sheet.
The phrases of every collection of NCDs supplied beneath the Tranche IV Issue are set out under:
| Series | I | II | III | IV* | V | VI | VII | VIII |
| Frequency of Interest Payment | Annual | Monthly | Cumulative | Annual | Monthly | Cumulative | Annual | Monthly |
| Minimum Application | ₹ 10,000 (10 NCDs) | ₹ 10,000 (10 NCDs) | ₹ 10,000 (10 NCDs) | ₹ 10,000 (10 NCDs) | ₹ 10,000 (10 NCDs) | ₹ 10,000 (10 NCDs) | ₹ 10,000 (10 NCDs) | ₹ 10,000 (10 NCDs) |
| Face Value/ Issue Price of NCDs (₹/ NCD) | ₹ 1,000 | ₹ 1,000 | ₹ 1,000 | ₹ 1,000 | ₹ 1,000 | ₹ 1,000 | ₹ 1,000 | ₹ 1,000 |
| In Multiples of thereafter (₹) | ₹ 1,000 (1 NCD) | ₹ 1,000 (1 NCD) | ₹ 1,000 (1 NCD) | ₹ 1,000 (1 NCD) | ₹ 1,000 (1 NCD) | ₹ 1,000 (1 NCD) | ₹ 1,000 (1 NCD) | ₹ 1,000 (1 NCD) |
| Type of Instrument | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months |
| Coupon (% every year) for NCD Holders in Category I & II | 8.90% | 8.57% | NA | 9.05% | 8.70% | NA | 9.30% | 8.94% |
| Coupon (% every year) for NCD Holders in Category III & IV | 9.30% | 8.94% | NA | 9.55% | 9.16% | NA | 9.80% | 9.39% |
| Effective Yield (every year) for NCD Holders in Category I & II | 8.89% | 8.90% | 8.90% | 9.04% | 9.05% | 9.05% | 9.29% | 9.30% |
| Effective Yield (every year) for NCD Holders in Category III & IV | 9.29% | 9.30% | 9.30% | 9.54% | 9.54% | 9.55% | 9.79% | 9.80% |
| Mode of Interest Payment | Through varied modes obtainable | Through varied modes obtainable | Through varied modes obtainable | Through varied modes obtainable | Through varied modes obtainable | Through varied modes obtainable | Through varied modes obtainable | Through varied modes obtainable |
| Redemption Amount (₹ / NCD) on Maturity for NCD Holders in Category I & II | ₹ 1,000 | ₹ 1,000 | ₹ 1,186.20 | Staggered redemption in three annual funds of: ₹ 333 for yr 1; ₹ 333 for yr 2; and ₹ 334 for yr 3, ranging from the primary anniversary from the Deemed Date of Allotment | Staggered redemption in three annual funds of: ₹ 333 for yr 1; ₹ 333 for yr 2; and ₹ 334 for yr 3, ranging from the primary anniversary from the Deemed Date of Allotment | ₹ 1,297.15 | Staggered redemption in 5 annual funds of ₹ 200 every, ranging from the primary anniversary from the Deemed Date of Allotment | Staggered redemption in 5 annual funds of ₹ 200 every, ranging from the primary anniversary from the Deemed Date of Allotment |
| Amount (₹ / NCD) on Maturity for NCD Holders in Category III & IV | ₹ 1,000 | ₹ 1,000 | ₹ 1,194.95 | Staggered redemption in three annual funds of: ₹ 333 for yr 1; ₹ 333 for yr 2; and ₹ 334 for yr 3, ranging from the primary anniversary from the Deemed Date of Allotment | Staggered redemption in three annual funds of: ₹ 333 for yr 1; ₹ 333 for yr 2; and ₹ 334 for yr 3, ranging from the primary anniversary from the Deemed Date of Allotment | ₹ 1,315.10 | Staggered redemption in 5 annual funds of ₹ 200 every, ranging from the primary anniversary from the Deemed Date of Allotment | Staggered redemption in 5 annual funds of ₹ 200 every, ranging from the primary anniversary from the Deemed Date of Allotment |
| Maturity (from the Deemed Date of Allotment) | 24 Months | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months |
| Redemption Date / Redemption Schedule | 24 Months | 24 Months | 24 Months | Staggered Redemption by Face Value as set out in “Terms of the Issue – Principal Redemption Schedule and Redemption Amounts” | Staggered Redemption by Face Value as set out in “Terms of the Issue – Principal Redemption Schedule and Redemption Amounts” | 36 Months | Staggered Redemption by Face Value as set out in “Terms of the Issue – Principal Redemption Schedule and Redemption Amounts” | Staggered Redemption by Face Value as set out in “Terms of the Issue – Principal Redemption Schedule and Redemption Amounts” |
| Put and Call Option | Not Applicable | Not Applicable | Not Applicable | Not Applicable | Not Applicable | Not Applicable | Not Applicable | Not Applicable |
*Company shall allocate and allot Series IV NCDs whereby the Applicants haven’t indicated the selection of the related NCD Series.
Principal Redemption Schedule and Redemption Amounts
Set out under is the principal redemption schedule and the redemption quantity for the Series IV NCDs, Series V NCDs, Series VII NCDs, and Series VIII NCDs, in relation to which the principal excellent can be redeemed in a staggered method.
| Series | Series IV and Series V |
Series IV and Series V |
Series VII and Series VIII |
Series VII and Series VIII |
| Redemption Schedule |
Principal Outstanding |
Redemption Schedule |
Principal Outstanding |
|
| Face Value | ₹ 1,000.00 | ₹ 1,000.00 | ₹ 1,000.00 | ₹ 1,000.00 |
| 1st Anniversary* | ₹ 333.00 | ₹ 667.00 | ₹ 200.00 | ₹ 800.00 |
| 2nd Anniversary* | ₹ 333.00 | ₹ 667.00 | ₹ 200.00 | ₹ 600.00 |
| third Anniversary* | ₹ 334.00 | ₹ 334.00 | ₹ 200.00 | ₹ 400.00 |
| 4th Anniversary* | NA | NA | ₹ 200.00 | ₹ 200.00 |
| fifth Anniversary* | NA | NA | ₹ 200.00 | Nil |
*from the Deemed Date of Allotment.
Allotments shall be made on date precedence foundation i.e. a first-come first-serve foundation, based mostly on the date of add of every software in to the digital guide with the Stock Exchanges, in every portion topic to the Allocation Ratio. However, on the date of oversubscription and thereafter, the allotments can be made to the candidates on proportionate foundation
# Applicable for Category III and Category IV Investors for tenure of 60 months. For additional particulars please seek advice from the Tranche IV Prospectus dated November 25, 2022 learn along with the Corrigendum to the Tranche IV Prospectus dated November 29, 2022.
**The Tranche IV Issue shall stay open for subscription on Working Days from 10 a.m. to five p.m. through the interval indicated on this Tranche IV Prospectus, besides that this Tranche IV Issue could shut on such earlier date or prolonged date as could also be determined by the Board of Directors of our Company or Securities Issuance Committee thereof. In the occasion of an early closure or extension of this Tranche IV Issue, our Company shall be sure that discover of the identical is offered to the potential buyers by way of an commercial on or earlier than such earlier or prolonged date of this Tranche IV Issue closure in all of the newspapers wherein the commercial for opening of this Tranche IV Issue has been given. Application Forms for this Tranche IV Issue can be accepted solely from 10:00 a.m. to five:00 p.m. or such prolonged time as could also be permitted by BSE and NSE, on Working Days, through the Tranche IV Issue Period. On the Tranche IV Issue Closing Date, the Application Forms can be accepted solely between 10 a.m. to three p.m. (Indian Standard Time) and uploaded till 5 p.m. or such prolonged time as could also be permitted by BSE and NSE. Further, pending mandate requests for bids positioned on the final day of bidding can be validated by 5 p.m. (Indian Standard Time) on one Working Day put up the Tranche IV Issue Closing Date.
About Indiabulls Housing Finance Limited (IBHFL):
Indiabulls Housing Finance Limited (IBHFL) is a non-deposit taking housing finance firm (“HFC”) registered with the NHB. The NCDs proposed to be issued by IBHFL are rated ‘AA’ by score businesses together with CRISIL and ICRA. As of September 30, 2022, it has a community of 164 branches unfold throughout India which supplies them a pan-India presence and permits it to work together with and repair its prospects. Indiabulls’ consolidated income from operations stood at ₹ 8,983.31 crores for the fiscal 2022 and consolidated revenue for the yr was ₹ 1,177.74 crores. For the six months ended September 30, 2022, consolidated income from operations and revenue for the interval was ₹ 4,304.99 crores and ₹ 576.12 crores respectively. It is having a powerful nationwide presence and continues to achieve out additional with e-Home Loans IBHFL permits its prospects to use for a house mortgage and add the requisite paperwork on-line.
Disclaimer: INDIABULLS HOUSING FINANCE LIMITED (“Company”), topic to market circumstances and different concerns is proposing a public difficulty of secured redeemable non-convertible debentures of face worth of Rs. 1,000 every (“NCDs”) and has filed the Tranche IV Prospectus dated November 25, 2022 learn along with Corrigendum to the Tranche IV Prospectus dated November 29, 2022 (“Tranche IV Prospectus”) with the Registrar of Companies, National Capital Territory of Delhi and Haryana, National Stock Exchange of India Limited, BSE Limited and SEBI. The Tranche IV Prospectus is on the market on the Company’s web site www.indiabullshomeloans.com; on the web site of the Stock Exchanges www.nseindia.com, www.bseindia.com, on the web site of SEBI at www.sebi.gov.in and the respective web sites of the lead managers at www.edelweissfin.com, www.akgroup.co.in, www.iiflcap.com and www.trustgroup.in. Investors proposing to take part within the Tranche IV Issue, ought to make investments solely on the idea of the information contained within the Tranche IV Prospectus. Investors ought to be aware that funding on this public difficulty of NCDs includes a excessive diploma of danger and for particulars regarding the identical, please seek advice from Tranche IV Prospectus and the part on “Risk Factors” starting on web page 20 of the Tranche IV Prospectus. The Company accepts no duty for statements made in any other case than within the Tranche IV Prospectus or in any commercial or every other materials issued by or on the occasion of our Company and that anybody inserting reliance on every other supply of information can be doing so at their very own danger.
LISTING: The NCDs supplied by way of this Tranche IV Prospectus together with the Shelf Prospectus are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” together with BSE, the “Stock Exchanges”). Our Company has obtained an ‘in-principle’ approval from BSE vide its letter no. DCS/BM/PI-BOND/027/21-22 dated March 23, 2022 and NSE vide its letter no. NSE/LIST/C/2022/0240 dated March 23, 2022 additional prolonged vide its letter no. NSE/LIST/C/2022/0490 dated June 21, 2022 and vide its letter no. NSE/LIST/D/2022/0137 dated September 29, 2022. For the needs of the Issue BSE shall be the Designated Stock Exchange.
GENERAL RISKS: Investment in debt securities includes a level of danger and buyers shouldn’t make investments any funds in such securities except they’ll afford to take the danger hooked up to such investments. Investors are suggested to take an knowledgeable determination and to learn the danger elements rigorously earlier than investing on this providing. For taking an funding determination, buyers should rely on their examination of the Issuer and the Tranche IV Issue, together with the dangers concerned in it. Specific consideration of buyers is invited to assertion of danger elements contained beneath “Risk Factors” and “Material Developments” on pages 20 and 228 of the Tranche IV Prospectus, respectively. These dangers are usually not, and are usually not meant to be, an entire checklist of all dangers and concerns related to the debt securities or investor’s determination to buy such securities. The Shelf Prospectus and the Tranche IV Prospectus haven’t been and won’t be accredited by any regulatory authority in India, together with the Securities and Exchange Board of India (“SEBI”), the Reserve Bank of India (“RBI”), the NHB, RoC or any inventory trade in India nor do they assure the accuracy or adequacy of the doc.
DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE shouldn’t in any means be deemed or construed that the Offer Document has been cleared or accredited by BSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The buyers are suggested to seek advice from the Tranche IV Prospectus for the total textual content of the “Disclaimer Clause of BSE.”
DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE shouldn’t in any means be deemed or construed that the Offer Document has been cleared or accredited by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The buyers are suggested to seek advice from the Tranche IV Prospectus for the total textual content of the “Disclaimer Clause of NSE.”
DISCLAIMER CLAUSE OF CRISIL RATINGS LIMITED
CRISIL Ratings Limited (CRISIL Ratings) has taken due care and warning in making ready the Material based mostly on the information offered by its consumer and / or obtained by CRISIL Ratings from sources which it considers dependable (Information). A score by CRISIL Ratings displays its present opinion on the probability of well timed fee of the obligations beneath the rated instrument and doesn’t represent an audit of the rated entity by CRISIL Ratings. CRISIL Ratings doesn’t assure the completeness or accuracy of the information on which the score is predicated. A score by CRISIL Ratings will not be a advice to purchase, promote, or maintain the rated instrument; it doesn’t remark on the market worth or suitability for a selected investor. The Rating will not be a advice to speculate / disinvest in any entity coated within the Material and no a part of the Material needs to be construed as an skilled recommendation or funding recommendation or any type of funding banking inside the which means of any regulation or regulation. CRISIL Ratings particularly states that it has no legal responsibility in any respect to the subscribers / customers / transmitters/ distributors of the Material. Without limiting the generality of the foregoing, nothing within the Material is to be construed as CRISIL Ratings offering or intending to supply any providers in jurisdictions the place CRISIL Ratings doesn’t have the mandatory permission and/or registration to hold out its enterprise actions on this regard. Indiabulls Housing Finance Limited can be liable for making certain compliances and penalties of non-compliances to be used of the Material or half thereof exterior India. Current score standing and CRISIL Ratings’ score standards can be found with out cost to the general public on the web site, www.crisil.com. For the newest score information on any instrument of any firm rated by CRISIL Ratings, please contact Customer Service Helpdesk at 1800- 267-1301.
DISCLAIMER CLAUSE OF ICRA LIMITED
ICRA scores shouldn’t be handled as advice to purchase, promote or maintain the rated debt devices. ICRA scores are topic to a means of surveillance, which can result in revision in scores. An ICRA score is a symbolic indicator of ICRA’s present opinion on the relative functionality of the issuer involved to well timed service money owed and obligations, just about the instrument rated. Please go to our web site www.icra.in or contact any ICRA workplace for the newest information on ICRA scores excellent. All information contained herein has been obtained by ICRA from sources believed by it to be correct and dependable, together with the rated issuer. ICRA nonetheless has not performed any audit of the rated issuer or of the information offered by it. While affordable care has been taken to make sure that the information herein is true, such information is offered ‘as is ’with none guarantee of any type, and ICRA particularly, makes no illustration or guarantee, categorical or implied, as to the accuracy, timeliness or completeness of any such information. Also, ICRA or any of its group corporations could have offered providers apart from score to the issuer rated. All information contained herein should be construed solely as statements of opinion, and ICRA shall not be accountable for any losses incurred by customers from any use of this publication or its contents.
– Source : IPOWATCH