04-Mar-2024
2 mins read
Established in 2005, Indiabulls Housing Finance Limited operates as a non-deposit-taking housing finance company registered with the NHB. It stands as a prominent entity within the Indiabulls Group, serving as one of India’s largest housing finance companies. The range of services offered includes home loans, loans against property, and mortgage loans tailored for diverse segments such as salaried individuals, self-employed individuals, micro, small, and medium enterprises (MSMEs), as well as corporates.
Indiabulls Housing Finance Limited extends its support to real estate developers in India by providing lease rental discounting for commercial premises and construction loans for residential building projects. The company’s extensive presence is evident through its 217 branches across India as of December 31, 2023. With a dedicated workforce, the company employed 1,589 individuals in direct sales on a consolidated basis by the same date.
As of March 31, 2023, the loan portfolio composition revealed that housing loans constituted 57%, while non-housing loans accounted for 43%. The company maintains a robust credit rating, holding a long-term rating of “AA; Outlook Stable” from CRISIL and ICRA, an “AA; Outlook Negative” rating from CARE Ratings, and an “AA+; Outlook Stable” rating from Brickwork Ratings for its non-convertible debentures and subordinated debt program.
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Financial Performance of Indiabulls Housing Finance Limited (In Rs Crore)
Indiabulls Housing Finance Limited experienced a decline in revenue by -2.98% and a decrease in profit after tax (PAT) by -4.25% during the financial year ending on March 31, 2023, compared to the figures reported for March 31, 2022.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| 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 |
| Reserves and Surplus | 18,353.75 | 17,678.34 | 17,255.64 |
Important Details of Indiabulls Housing Finance NCD 2024
| Issue Open | March 5, 2024 – March 19, 2024 |
| Security Name | Indiabulls Housing Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100 Crores |
| Issue Size (Oversubscription) | Rs 100 Crores |
| Tranche Issue Size | Rs 200 Crores |
| Issue Size (Shelf) | Rs 2,000 Crores |
| Tranche Number | V |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited. |
| Tenor | 24, 36, 60, 84 and 120 Months |
| Series | Series I to XII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Idbi Trusteeship Services Ltd. |
Coupon Rates for Indiabulls Housing Finance Limited NCD 2024
| # | 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% | NA | 9.90% | 9.48% | NA | 10.15% | 9.71% | 10.50% | 10.03% | 10.75% | 10.25% |
| Effective Yield (% per Annum) | 9.65% | 9.65% | 9.65% | 9.90% | 9.90% | 9.90% | 10.15% | 10.15% | 10.50% | 10.50% | 10.74% | 10.75% |
| Amount on Maturity (In Rs) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,202.32 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,327.38 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
NCD Allocation Ratio for Indiabulls Housing Finance Limited
| Category | NCD’s Allocated |
| Institutional | 10% |
| Non-Institutional | 10% |
| HNI | 40% |
| Retail | 40% |
NCD Rating of Indiabulls Housing Finance Limited NCD 2024
The proposed issuance of Non-Convertible Debentures (NCDs) under this offering has received a CRISIL rating of AA/Stable from CRISIL Ratings Limited and an ICRA rating of AA (Stable) from ICRA Limited. These ratings are deemed to have a stable outlook.
Company Promoters of Indiabulls Housing Finance Limited NCD 2024
The organisation operates without any identifiable promoters and is managed by professionals.
The Objective of Indiabulls Housing Finance Limited NCD 2024
The company plans to use the net proceeds from the issue for the following purposes: first, for onward lending, financing, and repaying both interest and principal on the company’s existing borrowings. Additionally, the funds will be allocated for general corporate purposes.
Lead Managers for Indiabulls Housing Finance Limited NCD 2024
The lead managers for Indiabulls Housing Finance Limited NCD 2024 are Nuvama Wealth Management Limited, Elara Capital (India) Private Limited and Trust Investment Advisors Private Limited.
How to Apply for Indiabulls Housing Finance Limited NCD 2024
Wait for the NCD to open for subscription, then click here to apply for the Indiabulls Housing Finance Limited NCD 2024 with Bigul.
How to Check the Allotment Status of Indiabulls Housing Finance Limited NCD 2024
Indiabulls Housing Finance Limited NCD 2024 registrar is Kfin Technologies Limited. Click here to check your allotment status.
FAQs
- What is the purpose of Indiabulls Housing Finance Limited NCD 2024?
The net proceeds from the NCD issue will be utilised for onward lending, financing, and repaying both interest and principal on the company’s existing borrowings. Additionally, funds will be allocated for general corporate purposes.
- How are the NCDs rated under this offering?
The NCDs have been rated “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited, indicating a stable outlook.
- What are the series and tenors available for the NCDs?
The NCDs are offered in series I to XII with tenors ranging from 24 to 120 months.
- What is the interest payment frequency for the NCDs?
The NCDs offer interest payment frequencies such as monthly, annual, and cumulative options, providing flexibility to investors.
- How can I apply for Indiabulls Housing Finance Limited NCD 2024?
To apply for the NCDs, you can wait for the subscription period to open and then use the provided link to apply through Bigul.
- How is the NCD allocation divided among different categories of investors?
The allocation ratio for NCDs is as follows: Institutional – 10%, Non-Institutional – 10%, HNI (High Net Worth Individuals) – 40%, and Retail – 40%.
- Who are the lead managers for Indiabulls Housing Finance Limited NCD 2024?
The lead managers for the NCD 2024 are Nuvama Wealth Management Limited, Elara Capital (India) Private Limited, and Trust Investment Advisors Private Limited.
- How can I check the allotment status of the NCDs?
The registrar for the NCD is Kfin Technologies Limited. You can check your allotment status by visiting the provided link on their platform.
- Are there any identifiable promoters for Indiabulls Housing Finance Limited?
No, the company operates without identifiable promoters and is managed by professionals.
- When is the subscription period for Indiabulls Housing Finance Limited NCD 2024?
The subscription period for the NCDs is from March 5, 2024, to March 19, 2024.
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