India
Infoline Housing Finance Limited to open the public issue of 11.52 % Secured,
Redeemable, Non-Convertible Debentures (NCDs) aggregating upto Rs 250
Crore with an option to retain
over-subscription upto Rs 250 Crore million aggregating to a total of upto Rs
500 Crore on December 12, 2013
India Infoline Housing Finance Limited
(IIHFL), the housing finance arm of India Infoline Limited, one of the largest
diversified financial services companies in India, plans to open on December 12, 2013 a public issue of
Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs
1,000 each. The NCD issue is aggregating upto Rs 250 Crore with an option to
retain over-subscription up to Rs 250 Crore for issuance of additional NCDs
aggregating to a total of up to Rs 500 Crore
These
NCDs have a monthly option and will be issued for a period of 5 years. The
yield on the NCD works out to 12.15% p.a.
These
bonds are secured against home and mortgage receivables.
Rrecent
NCD issue of India Infoline Finance Limited, parent company of IIHFL, raised Rs
1,050 crores, including the green shoe option. This was the largest public
issue of bonds, by any company in India, in the last 4 years (as per Prime
Database)
Commenting
at the press conference on the NCD Issue, Mr Nirmal Jain, Chairman, India
Infoline Ltd said, “This is the fourth issue from IIFL Group in the last 3
years. All our earlier issues have met with overwhelming response and
customer’s trust. In the corporate bond market, IIFL brand is well accepted and
has an impeccable track record. ”
Mr
S. Sridhar, Chairman, India Infoline Housing Finance Limited,
said, “Our robust credit selection, appraisal and collection process have
ensured that the asset quality standards are among the highest and non
performing assets are kept under control at a low level.”
Mr
R.Venkataraman, Managing Director, India Infoline Ltd said,
“These bonds are secured against home and mortgage receivables, which in the
Indian context have performed better than most other asset classes. These bonds
have an attractive yield of 12.15% with an added benefit of monthly cash flow
of interest income.”
The
NCDs proposed to be issued under this Issue have been rated ‘CRISIL AA-/Stable’
by CRISIL and ‘CARE AA-' by CARE. The rating of NCDs by CRISIL and CARE
indicates instruments with this rating are considered to have a high degree of
safety regarding timely servicing of financial obligations. Such instruments
carry very low credit risk. The ratings provided by CRISIL and/or CARE may be
suspended, withdrawn or revised at any time by the assigning rating agency and
should be evaluated independently of any other rating. These ratings are not a
recommendation to buy, sell or hold securities and investors should take their
own decisions. The NCDs are proposed to be listed on the National Stock
Exchange of India Limited and BSE Limited.
The
Issue will close on December 20, 2013 with an option to close on such earlier
date or extended date up to a period of 30 days from the date of opening of the
Issue, as may be decided at the discretion of the duly authorised committee of
Directors of IIHFL subject to necessary approvals.
Investors
have an option for Allotment of NCDs in both dematerialized form and/or
physical form. The funds raised through the Issue, after meeting the
expenditures of and related to the Issue, will be used for the financing
activities including lending and investments, subject to applicable statutory
and/or regulatory requirements, to repay our existing loans and our business
operations including for our capital expenditure and working capital
requirements.
Axis
Capital Limited, Trust Investment Advisors Private Limited, India Infoline
Limited and Edelweiss Financial Services Limited are the Lead Managers to the
Issue and RR Investors Capital Services (P) Limited, Karvy Investor Services
Limited and SMC Capitals Limited are the Co-Lead Managers to the Issue. IDBI
Trusteeship Services Limited is the Debenture Trustee, while Link Intime India
Private Limited is the Registrar to the Issue.
A
detailed Prospectus dated December 2, 2013
is filed with SEBI, the Registrar of Companies - Maharashtra, Mumbai,
The National Stock Exchange of India Limited and the BSE Limited and will be
available on the website of IIHFL at www.iihfl.com; and websites of SEBI, NSE
and BSE at www.sebi.gov.in; www.nseindia.com; and www.bseindia.com respectively
and on the respective websites of the Lead Managers at www.axiscap.in,
www.iiflcap.com, www.trustgroup.co.in and www.edelweissfin.com and Co-Lead
Managers at www.rrfinance.com/www.rrfcl.com, www.karvy.com and
www.smccapitals.com.
About
India Infoline Housing Finance Limited (IIHFL)
IIHFL
is a wholly owned subsidiary of India Infoline Finance Limited. It received a
Certificate of Registration (not valid for acceptance of public deposits) from
the National Housing Bank (NHB) dated February 3, 2009 to commence / carry on
the business of a housing finance institution. IIHFL offers housing loans and
Loans against Property. IIHFL’s lending products include Mortgage Loans, which
includes Retail Mortgage Loans and Corporate Mortgage Loans. These loans are
bifurcated into Housing Loans and Loans Against Property.
About
India Infoline Finance Limited
India
Infoline Finance Limited is a systemically important non-deposit taking NBFC
focusing on Mortgage Loans, Commercial Vehicle Finance, Gold Loan, Capital
Market Finance and Healthcare Finance. India Infoline Finance Limited is a
subsidiary of India Infoline Limited (“IIFL”), a diversified financial services
organization having presence across India. The global footprint of IIFL and its
subsidiary companies (IIFL Group) extends across geographies with offices in New
York, London, Geneva, Hong Kong, Singapore, Dubai, Mauritius and Colombo. IIFL
Group’s services and products include retail broking, institutional equities,
commodities and currency broking, wealth advisory, credit & finance,
insurance broking, asset management, financial products distribution &
investment banking. The product/ services portfolio of IIFL Group caters to the
diverse investment and strategic requirements of retail, institutional,
corporate and affluent clients. We leverage extensively on the infrastructure,
distribution network and insights of IIFL Group into market and customer needs.
For
further details please contact:
India
Infoline Housing Finance Ltd
Anil
Mascarenhas
M:
09967576026
e-mail:
anil@indiainfoline.com
U.
Christopher Charles
Concept
Public Relations
M:
9842475706
e-mail:
charles@conceptpr.com
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