IIFL Bond NCDs
India Infoline Investment Services limited's maiden public issue of secured redeemable non- convertible debentures (NCDs) of Rs. 750 crore will open tomorrow.
The NCD issue with three investment options and redemption yield of up to 11.90 per cent (per annum) will close on August 12, a company official said here.
The NCDs will be listed on National Stock Exchange and Bombay Stock Exchange.
The face value of NCD is Rs. 1,000 and minimum application is for Rs. 5,000, he said, adding, that the funds raised through this issue will be used by the company for various financial activities.
About : India Infoline Investment Services Limited provides various financial products and services to retail and corporate customers in India. The company offers mortgage loans, including housing loans and loans against property; capital market finance comprising loans against securities, promoter funding, margin funding, initial public offer financing, and other structured lending transactions; gold loans consisting of finance against gold ornaments; and healthcare finance, such as finance for medical equipments and project funding in the healthcare sector. It also involves in the retail distribution of financial products, including mutual funds, fixed income investments, RBI Bonds, and other savings products, as well as provision of secured personal loans. The company was incorporated in 2004 and is based in Mumbai, India. India Infoline Investment Services Limited (IIISL) is a subsidiary of India Infoline Limited.
The proposed NCDs have been rated "[ICRA]AA- (stable)" by ICRA, and 'CARE AA-' by CARE, indicating high degree of safety for timely servicing of financial obligations. There are three investment options:
Option I (Annual interest payment): The redemption date or maturity period is 36 months from the deemed date of allotment and the coupon rate is 11.7% p.a. The interest payment is annual and the face value plus any interest that may have accrued is payable on redemption.
Option II:. NCDs will be redeemed at Rs. 1446.18 at the end of 40 months from the deemed date of allotment with an effective yield of 11.7% per annum.
Option III (Annual interest payment): The redemption date or maturity period is 60 months from the deemed date of allotment. The coupon rate is 11.9% p.a. for Category III investors and 11.7% p.a. for others. The interest payment is annual and the face value plus any interest that may have accrued is payable on redemption. The funds raised through this Issue will be used by the Company for various financing activities.
The Lead Managers to the Issue are Axis Bank Limited, JM Financial Consultants Private Limited and A.K. Capital Services Limited. The Prospectus is available on the website of the Company at www.iiflinvestments.com; and Exchanges at www.nseindia.com; www.bseindia.com and on the websites of Lead Managers at www.axisbank.com, www.jmfinancial.in and www.akcapindia.com.
Objects of the issue:
Senapati Bapat Marg
Phone:+91 22 4249 9000
Fax:+91 22 2495 4313
|Issue Price||Rs. 1000|
|Isuue Type||100% Book Building Issue|
|Max Amount for Retail Investor||0|
|Lead Manager||Axis Bank Limited, JM Financial Consultants Private Limited and A.K. Capital Services Limited|
|Cheque in Favour of||NA|
IIFL Bond NCDs Grey Market Price - Premium - Rates
|Date||GM Premium||Kostak Rate|
|05-Aug-2011||----||Rs. 1200 (1 Lac) |
Rs. 2400 (2 Lac)
Rs. 6000 (5 Lac)
|16-Aug-2011||Rs. 3 - 4||----|
|17-Aug-2011||Rs. 3 - 4||----|
IIFL Bond NCDs Subscription Details:
|06-Sep-2011||NA||Rs. 758 Crore|