Indiabulls Housing Finance Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹2,000.00 Cr with a base issue size of ₹200.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Indiabulls Housing Finance Ltd. NCD issue opens on Oct 20, 2023 and closes on Nov 3, 2023. NCD are proposed to be listed on NSE and BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 9.25% per annum to 10.75% per annum, depending on the series and tenure selected.
The NCD has been rated: .
Nuvama Wealth Management Ltd. is the Lead Manager to the issue, IDBI Trusteeship Services Ltd. is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document and Shelf Prospectus for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Fri, Oct 20, 2023
Close Date
Fri, Nov 3, 2023
Issue Size (Overall)
[.]
Indiabulls Housing Finance Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | Series 12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Monthly | Cumulative | Annual | Monthly | Cumulative | Annual | Monthly | Annual | Monthly | Annual | Monthly |
| Nature | Secured | Secured | Secured | Secured | 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 | 84 Months | 84 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 9.65% | 9.25% | 9.65% | 9.90% | 9.48% | NA | 10.15% | 9.71% | 10.50% | 10.03% | 10.75% | 10.25% |
| Effective Yield (% per Annum) | 9.64% | 9.64% | 9.65% | 9.88% | 9.89% | 9.90% | 10.14% | 10.14% | 10.49% | 10.49% | 10.74% | 10.74% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,202.60 | Rs 1,327.75 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
The Company has no identifiable promoters and is a professionally managed company.
Indiabulls Housing Finance Limited's revenue decreased by -2.98% and profit after tax (PAT) dropped by -4.25% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 74,945.24 | 81,973.32 | 93,239.03 |
| Revenue | 8,725.79 | 8,993.90 | 10,030.12 |
| Profit After Tax | 1,127.68 | 1,177.74 | 1,201.59 |
| Net Worth | 17,303.42 | 16,616.23 | 16,076.03 |
| Reserves and Surplus | |||
| Total Borrowing | |||
| Amount in ₹ Crore | |||
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 30.00% | 3,00,000 |
| Non-Institutional | 10.00% | 1,00,000 |
| HNI | 30.00% | 3,00,000 |
| Retail | 30.00% | 3,00,000 |
| Total | 100.00% | 10,00,000 |
Incorporated in 2005, Indiabulls Housing Finance Limited engages in providing mortgage lending services. It is a non-deposit-taking housing finance company ("HFC") registered with the NHB.
Indiabulls Housing Finance Limited is one of the largest housing finance companies in India and is the flagship company of Indiabulls Group. The company offers housing loans and loans against property to (i) salaried employees; (ii) self-employed individuals; (iii) micro, small, and medium-sized enterprises ("MSMEs"), and (iv) corporates. It also offers mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises.
As of September 30, 2023, the company has a network of 218 branches spread across India. As of September 30, 2023, the company has a direct sales team of 1745 employees, on a consolidated basis. As of March 31, 2023, housing loans and non-housing loans, on a standalone basis, constituted 57% and 43%, respectively.
The company has a long-term credit rating of "AA; Outlook Stable" from CRISIL and ICRA, "AA; Outlook Negative" from CARE Ratings and "AA+; Outlook Stable" from Brickwork Ratings for non-convertible debentures and subordinated debt programme.
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] This is a housing finance arm of Indiabulls group. The company posted declining trends for its top and bottom lines for the last three fiscals. This is the 11th debt offer from the company and is coming in a short span after its previous offer which was in the month of September 2023. Considering its AA/Stable ratings from CRISIL and ICRA, investors looking for a steady income may park moderate funds for medium to long-term. Read detail review...
The Indiabulls Housing Fin. Tranche III NCD Oct 2023 was subscribed 1.25 times on Nov 03, 2023 18:00. The NCD subscribed 2.09 times in Retail, 1.65 times in HNI, 1.23 times in Non-Institutional, and 0.00 times in Institutional category.
Indiabulls Housing Finance Ltd.
5th Floor, Building No. 27,
KG Marg Connaught Place,
New Delhi – 110 001
New Delhi, New Delhi, 110001
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Indiabulls Housing Finance Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
