Established in 1995, IIFL Samasta operates as a Non-Banking Finance Company Micro Finance Institution (NBFC MFI) in India. It specializes in providing inventive and cost-effective financial products to women who are registered as members and organized into Joint Liability Groups. IIFL Samasta functions as a subsidiary of IIFL Finance Limited.
The company focuses on extending loans tailored for underserved individuals lacking access to conventional banking services. These specialized financial offerings encompass Income Generating Loans (IGL) designed for initiating or expanding businesses, top-up loans, property-backed loans, micro-enterprise loans, as well as Lifestyle and Family Welfare loans. The company has launched a debt offer, and the subscription period for this offer will be from December 04 to December 15, 2023. Click here to apply in the IIFL Samasta Finance Limited NCD.
The company is raising Rs 1000 crore from the issue at a price of Rs 1000 each. Investors need to apply for a minimum of 10 NCDs in a lot. The company has received rating of CRISIL AA-/ Positive by CRISIL Ratings Limited with a stable outlook.
The company will use the net proceeds from the issue for the purpose of onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the Company and other general corporate purposes.
IIFL Samasta has allotted 10% each to institutional and non-institutional investors. It has also allotted 40% each to HNI and retail investors.
These NCDs have tenures of 24, 36 and 60 Months. It offers coupon rates from 9.21% to 10.50% based on the selection of investors. The frequency of interest payments will be annually. 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 IIFL Samasta Limited:
Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | |
Frequency of Interest Payment | Monthly | Annual | Monthly | Annual | Monthly | Annual |
Nature | Secured | Secured | Secured | Secured | Secured | Secured |
Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months |
Coupon (% per Annum) | 9.21% | 9.60% | 9.57% | 10.00% | 10.03% | 10.50% |
Effective Yield (% per Annum) | 9.59% | 9.59% | 9.99% | 9.99% | 10.49% | 10.49% |
Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
RHP:
https://www.sebi.gov.in/sebi_data/attachdocs/nov-2023/1701172120059.pdf
Tax implications:
Piramal Enterprises Limited NCD Tranche III is managed by IIFL Securities, JM Financial, Nuvama Wealth Management, and Trust Investment Advisors Private Limited. Link Intime India Private Limited is the registrar of NCD and Beacon Trusteeship Limited is debenture trustee to the same.
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