IIFL Home Finance Limited NCD (IIFL Home Finance NCD Tranche I December 2024) Detail
Established in 2009, IIFL Home Finance Ltd operates as a subsidiary of IIFL Finance, a prominent financial services provider specializing in loans and mortgages.
The company’s diverse product portfolio includes home loans, gold loans, business loans, loans against property, financing for medium and small enterprises, microfinance, developer and construction finance, and capital market financing. These services cater to both retail and corporate clients.
By September 30, 2024, IIFL Home Finance Ltd had served more than 427,048 customers, offering a range of mortgage-related loan products such as:
- Housing Loans: Financing options for purchasing ready-built or under-construction residential properties, self-construction, home renovations, and land acquisition for residential purposes.
- Secured Business Loans: Loans designed for working capital needs, business expansion, and commercial property acquisitions.
- Affordable Housing Project Loans: Financial support for the construction of affordable housing projects by reputable developers.
As of September 30, 2024, the company operated a network of 387 branches across 18 states and 2 Union Territories, with a primary presence in regions such as Delhi NCR, Gujarat, Andhra Pradesh, Telangana, Madhya Pradesh, Karnataka, Rajasthan, Maharashtra, and Tamil Nadu.
The company’s total borrowings stood at ₹16,867.54 crores as of September 30, 2024. This marks a decline from ₹17,683.61 crores on March 31, 2024, but an increase compared to ₹14,953.20 crores on March 31, 2023, and ₹14,220.61 crores on March 31, 2022. The average cost of borrowings was recorded at 8.32% in 2024, 8.30% in 2023, 7.99% in 2022, and 7.92% in 2021.
By September 30, 2024, the company employed 5,434 professionals.
IIFL Home Finance NCD IPO Tranche I December 2024 Detail
| Issue Open | December 6, 2024 – December 19, 2024 |
| Security Name | IIFL Home Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 400.00 Crores |
| Tranche Issue Size | Rs 500.00 Crores |
| Issue Size (Shelf) | Rs 3,000.00 Crores |
| Tranche Number | 1 |
| 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 |
| Tenor | 24, 36, 60 and 84 Months |
| Series | Series I to IX |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
IIFL Home Finance NCD IPO Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 20% |
| Non-Institutional | 20% |
| HNI | 30% |
| Retail | 30% |
IIFL Home Finance Limited NCD IPO Coupon Rates
NCD Rating
CRISIL Ratings Limited has assigned a rating of CRISIL AA/Stable (with a stable outlook) to the Secured Non-Convertible Debentures (NCDs) amounting to ₹3,000 crores.
Company Financials
IIFL Home Finance Limited Financial Information (Restated Consolidated)
IIFL Home Finance Limited reported a 21% increase in revenue and a 30% growth in profit after tax (PAT) between the financial years ending March 31, 2023, and March 31, 2024.
Purpose of the Issue
The objectives of the Tranche I Issue and the allocation of Net Proceeds are as follows:
- To support onward lending, financing activities, and the repayment or prepayment of interest and principal on existing borrowings.
- To meet general corporate requirements.
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