IIFL Finance Limited (Formerly known as IIFL Holdings Limited), a public limited company incorporated under the Companies Act, 1956, registered as an NBFC with the RBI under Section 45-IA of the RBI Act and having its Registered Office at IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Area, Wagle Estate, Thane – 400604, Maharashtra, India.
Here are the basic details of this NCD Issue and the details related to the NCD series as promised to be provided by IIFL Finance.
Public Issue by the Company of unsecured subordinated redeemable non-convertible debentures of face value of ₹ 1,000 (Indian Rupees One Thousand) each (“Unsecured NCDs”) for an amount of ₹ 1,000 Million (“Base Issue Size”) with an option to retain oversubscription up to ₹ 9,000 Million amounting to ₹ 10,000 Million (“Tranche I Issue Limit”) (“Tranche I Issue”) which is within the Shelf Limit of ₹ 50,000 Million and is being offered by way of this Tranche I Prospectus dated February 24, 2021, containing inter alia the terms and conditions of Tranche I Issue (“Tranche I Prospectus”), which should be read together with the Shelf Prospectus dated February 24, 2021 (“Shelf Prospectus”). The Unsecured Debentures will be in the nature of Subordinated Debt and will be eligible for inclusion as Tier II Capital.
The terms of each series of NCDs are set out below: Series | I* | II | III |
Frequency of Interest Payment | Annual | Monthly | At Maturity |
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) | ||
Tenor (in months) | 87 | 87 | 87 |
Coupon (% per annum) for NCD Holders in all Category | 10.00% | 9.60% | NA |
Effective Yield (% per annum) for NCD Holders in all Category | 10.00% | 10.03% | 10.03% |
Mode of Interest Payment | Through various mode available | ||
Amount (Rs / NCD) on Maturity for NCD Holders in all Category | 1,000 | 1,000 | 2,000 |
Put and Call Option | NA | NA | NA |
1. With respect to Series where interest is to be paid on an annual basis, relevant interest will be paid on each anniversary of the Deemed Date of Allotment on the face value of the NCDs. The last interest payment under the annual Series will be made at the time of redemption of the NCDs.
2. Subject to applicable tax deducted at source, if any.
3. Please refer to Schedule D for details pertaining to the cash flows of the Company in accordance with the SEBI circular bearing number CIR/IMD/DF/18/2013 dated October 29, 2013, and CIR/IMD/DF-1/122/2016 dated November 11, 2016.
4. *Company would allot the Series I Unsecured NCDs, as specified in this Tranche I Prospectus to all valid Applications, wherein the Applicants have not indicated their choice of the relevant Series of NCDs.
Also, the default Series (where the investor does not select a Series) will be series I, an annual coupon.
How to apply in IIFL Finance NCD Online?
a) An investor may submit the bid-cum-application form through the App or web interface developed by Stock Exchanges (or any other permitted methods) wherein the bid is automatically uploaded onto the Stock Exchanges bidding platform and the amount is blocked using the UPI Mechanism.
b) The Stock Exchanges have extended their web-based platforms i.e ‘BSEDirect’ and ‘NSE goBID’ to facilitate investors to apply in public issues of debt securities through the web based platform and mobile app with a facility to block funds through Unified Payments Interface (UPI) mechanism for application value upto Rs. 2 Lac. To place bid through ‘BSEDirect’ and ‘NSE goBID’ platform/ mobile app the eligible investor is required to register himself/ herself with BSE Direct/ NSE goBID.
c) An investor may use the following links to access the web-based interface developed by the Stock Exchanges to bid using the UPI Mechanism: BSE: https://www.bsedirect.com; and NSE: https://www.nseindiaipo.com.
d) The BSE Direct and NSE goBID mobile application can be downloaded from the play store on android phones. Kindly search for ‘BSEdirect’ or ‘NSE goBID’ on Google Playstore for downloading mobile applications.
e) For further details on the registration process and the submission of bids through the App or web interface, the Stock Exchanges have issued operational guidelines and circulars available at BSE: https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20201228-60, and https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20201228-61; NSE: https://www1.nseindia.com/content/circulars/IPO46907.zip; https://www1.nseindia.com/content/circulars/IPO46867.zip.
if you don't want to use the stock exchanges platform then you can use your Net Banking ASBA application for this NCD issue.
if you have any doubt related to this NCD issue feel free to ask in the comment section.
