Indiabulls Consumer Finance Limited to open Public Issue of Secured NCDs of Rs 250 Crore

Indiabulls Consumer Finance Limited to open Public Issue of Secured NCDs of Rs 250 Crore

Chennai, February 05, 2019: Indiabulls Consumer Finance Limited (IBCFL), 100% subsidiary of Indiabulls Ventures Limited(IBVL) is opening a public issue of Secured Non-Convertible Debentures (NCDs) with a base issue size of ₹ 250 crore and an option to retain oversubscription of another ₹2,750 crore which is within the shelf limit of ₹ 3,000 crore on February 04, 2019. Allotment in the issue is on a first come first serve basis.

IBCFL is a non-deposit taking NBFC registered with the RBIand the NCDs proposed to be issued under this issue have been rated AA+ by Brickwork Ratings and AA STABLE by CARE.

The NCD issue will have options of 26 months, 38 months, and 60 months maturities with an attractive coupon rate of up to 11.00% p.a., the minimum application size will be ₹ 10,000/-. These NCDs are proposed to be listed on both BSE and the NSE. For listed NCDs there is no TDS applicable when investors subscribe to them in Demat form.

Edelweiss Financial Services Limited, A. K. Capital Services Limited, Axis Bank Limited and Trust Investment Advisors Private Limitedare the Lead Managers to the issue.

IDBI Trusteeship Services Limited is the Debenture Trustee, while KarvyFintech Private Limited is the Registrar to the Issue.

 

Detailed Issue Structure

Series

I*

II

III

IV

V

VI

VII

VIII

Frequency of Interest Payment

Annual

Cumulative

Monthly

Annual

Cumulative

Monthly

Annual

Cumulative

Minimum Application

₹ 10,000 (10 NCDs) across all series

Face Value/Issue Price of NCDs (₹/NCD)

₹ 1,000

In Multiples of thereafter (₹)

₹ 1,000/- ( 1 NCD)

Tenure

26 months

26 months

38 months

38 months

38 months

60 months

60 months

60 months

Coupon (% per annum) for NCD Holders in Category I, II, III & IV

10.75%

NA

10.40%

10.90%

NA

10.50%

11%

NA

Effective Yield (% per annum) for NCD Holders in Category I, II, III & IV

10.75%

10.75%

10.90%

10.91%

10.90%

11.01%

10.99%

11%

Mode of Interest Payment

Through various mode available

Amount (₹/NCD) on Maturity for NCD Holders in Category I, II, III & IV

₹ 1,000

₹ 1,248.02

₹ 1,000

₹ 1,000

₹ 1,388.30

₹ 1,000

₹ 1,000

₹ 1,686.26

Put and Call Option

NA

NA

NA

NA

NA

NA

NA

NA