India Infoline Finance Ltd (NIIFL) , the NBFC subsidiary of Indian Infoline, has offered a coupon rate of 12 % for its forthcoming secured redeemable non-convertible debentures (NCD) public issue opening on September 17.
The company plans to raise Rs. 525 crore through the planned public issue with an option to retain oversubscription up to Rs. 525 crore aggregating to Rs. 1,050 crore.
Mr. Nirmal Jain, Founder and Chairman, India Infoline speaking a the launch of the NCD issue said, “In current time equities are volatile, retail investors who invest in small cap & mid-cap stocks have seen big losses, gold has also peaked out, fixed deposits are best option bets and NCD is one such option.”
“In bonds there is trust that one will get money (capital) & interest accrued” Mr. Nimal Jain said.
The NCDs have monthly & annual interest payment option and the yield works out to 12.68 % for the monthly interest option and 12 % for the annual interest option. The face value of each NCD is Rs. 1,000 and minimum application is Rs. 5,000 or five (5) NCDs. The NCDs have an investment maturity tenure of three (3) years and five (5) years.
India Infoline is a diversified financial services company with interest in equity broking, wealth management, mutual fund besides their NBFC subsidiary.
India Infoline Finance registered with RBI as NBFC has diversified & secured loan asset portfolio with exposure to home finance (41.2%), gold loan (41.2%), capital market funding scheme(13.5%), medical equipment finance( 3.3%) and commercial vehicle finance (1%).
Mr. R Venkataraman, Managing Director, India Infoline, said, “In both our previous issues, we received an overwhelming response from retail investors & hence we have designed the offering suited for the needs of the retail investors.”
The NCDs will be allotted on first cum first served basis on daily basis.
The NCDs proposed have been rated AA by CARE and Brickwork.
These will be listed on National Stock Exchange of India and BSE and investors have the option to exit their investments by selling the NCDs after listing on the two exchanges.
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