Indiabulls Housing Finance Limited (IBHFL) is one of the largest housing finance companies in India and is the flagship company of Indiabulls Group. The company offers Home Loans, Home Renovation Loans, Rural Home Loans, and Home Extension Loans among others. It is coming up with a debt offer which is starting for subscription from March 03 to March 17, 2023. Click here to apply in the Indiabulls Housing Finance Limited NCD.
The company is raising Rs 100 crore from the issue at a price of Rs 1000 each. Investors need to apply for a minimum of 1 NCD in a lot. The company has received rating of CRISIL AA/Stable by CRISIL Ratings Limited and ICRA AA/ Stable by ICRA Limited.
Indiabulls Housing Finance Limited has reserved 30% quota for institutional investors, 10% for non-institutional investors, 30% for high net-worth investors and 30% for retail investors.
The company will use the net proceeds from the issue for onward lending, financing and repayment of interest and principal amount of borrowings and other general corporate purposes.
These NCDs have tenures of 24 months, 36 months, and 60 months. It offers coupon rates from 9.65% to 9.71% based on the selection of investors. The frequency of interest payments will be Monthly, Quarterly, Annual or Cumulative as per the choice of investors. Allotment of these NCDs will be in dematerialized mode only. Application is to be made through ASBA mode only.
Check the coupon rates of NCDs of Edelweiss Financial Services Limited
Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | |
Frequency of Interest Payment | Annual | Monthly | Cumulative | Annual | Monthly | Cumulative | Annual | Quarterly |
Nature | Secured | |||||||
Tenor | 24 months | 24 months | 24 months | 36 months | 36 months | 36 months | 60 months | 60 months |
Coupon Rate (Retail) | 9.65% | 9.25% | NA | 9.90% | 9.48% | NA | 10.15% | 9.71% |
Effective Yield (% per Annum) | 9.64% | 9.64% | 9.65% | 9.88% | 9.89% | 9.90% | 10.14% | 10.15% |
Amount on Maturity | Rs 1000 | Rs 1000 | Rs 1193.85 | Rs 1000 | Rs 1000 | Rs 1309.70 | Rs 1000 | Rs 1000 |
RHP:
https://www.akgroup.co.in/docs/IBHFL%20-%20Tranche%20V%20Prospectus%2023%20Feb%202023.pdf
Tax implications:
On the financial performance front, for the last three fiscals, Indiabulls Housing Finance Limited has posted a net profit of Rs. 2,165.92 crore (FY20), Rs. 1,201.59 crore (FY21), and Rs. 1,177.74 crore (FY22). For Q3 of FY23 ended on December 31, 2022, it earned a net profit of Rs. 867.08 crore on total revenue of Rs. 6648.66 crore.
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