The Indiabulls Housing Finance Issue Open has been confirmed from March 5, 2024 – March 19, 2024.
Indiabulls Housing Finance Limited, a cornerstone of the Indiabulls Group, is esteemed as one of India’s premier housing finance firms. Home loans and loans against property are accessible to salaried individuals, self-employed individuals, MSMEs, and corporations through the company. In addition, it caters to Indian real estate developers by providing mortgage loans, including lease rental discounts for commercial properties and development loans for residential complexes.
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Issue Dates
March 5-19
Issue Price
Rs 1000 per NCD
Face Value
Rs 1000 each NCD
Market Lot
1 NCD
Indiabulls Housing Finance NCD
The Indiabulls Housing Finance NCD Face Value is Rs 1000 each NCD.
IPO Overview
Founded back in 2005, Indiabulls Housing Finance Limited is a provider of mortgage financing services. It falls under the category of a housing financing company (HFC) registered with the NHB and refrains from accepting deposits. Leading the charge within the Indiabulls Group, Indiabulls Housing Finance Limited is recognized as a premier housing finance institution in India. Salaried individuals, self-employed individuals, MSMEs, and corporations have access to home loans and loans against property through the company’s provisions. In addition, it supports Indian real estate developers by providing mortgage loans through lease rental discounts for commercial properties and development loans for residential complexes.
The corporation had 217 branches situated in India as of December 31, 2023. On a consolidated level, the company’s direct sales workforce numbered 1,589 individuals as of December 31, 2023. Housing loans accounted for 57% of the total loans as of March 31, 2023, while non-housing loans comprised 43%. CRISIL and ICRA have both assigned the company a long-term credit rating of “AA; Outlook Stable,” with CARE Ratings receiving an “AA; Outlook Negative” and Brickwork Ratings obtaining an “AA+; Outlook Stable” for non-convertible debentures and a subordinated debt programme.
Indiabulls Housing Finance NCD Detail
| 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 100.00 Crores |
| Issue Size (Oversubscription) | Rs 100.00 Crores |
| Tranche Issue Size | Rs 200.00 Crores |
| Issue Size (Shelf) | Rs 2,000.00 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. |
Indiabulls Housing Finance Limited Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| 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 |
| Amount in ₹ Crore | |||
Indiabulls Housing Finance Limited NCD Coupon Rates
| # | 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 |
Indiabulls Housing Finance NCD Allocation Ratio
Company Profile
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- For onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company; and
- General corporate purposes.
Registrar Info
| Name | Kfin Technologies Limited |
| Phone number | 04067162222, 04079611000 |
| Email ID | ibhl.ncdipo@kfintech.com |
| Website | kosmic.kfintech.com |
Contact Details
| Name | Indiabulls Housing Finance Limited |
| Phone number | +91 11 4353 2950 |
| Email ID | helpdesk@indiabulls.com |
| Website | indiabullshomeloans.com |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
