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Tuesday 5 February 2019

Indiabulls Consumer Finance Limited (BWR AA+|CARE AA STABLE)

Indiabulls Consumer Finance Limited (BWR AA+|CARE AA STABLE) to open
Public Issue of Secured NCDs of 
 250 crore
-        With a green shoe option of  2,750 crore
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 RBI and 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 Limited are the Lead Managers to the issue.

IDBI Trusteeship Services Limited is the Debenture Trustee, while Karvy Fintech 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

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