India Infoline Housing Finance Ltd, is coming out with a public issue of Un-secured Subordinate Redeemable Non-Convertible Debentures (NCD) of face value of Rs. 1000/- each aggregating upto Rs. 100 Cr., with an option to retain over subscription up to Rs 100/- Cr for issuance of additional NCDs, aggregating to a total of up to Rs. 200 Cr. The Issue is open for subscription on 12 Mar 2014 and closes on 224 Mar 2014.
[wptabs style=”smoothness” mode=”horizontal”]
[wptabs style=”wpui-blue” mode=”horizontal” background=”false”]
[wptabtitle] Product Note[/wptabtitle] [wptabcontent]Issue Highlight –
| Issuer | India Infoline Housing Finance Ltd |
|---|---|
| Type of Instrument | Un-Secured, Redeemable, NCD |
| Issue Open | 12 Mar 2014 |
| Issue Close | 24 Mar 2014 (with option of early closure or extension) |
| Issue Size | 100 Cr with option of over subscription up to Rs 100 Cr aggregating to a total of up to Rs 200 Cr |
| Face Value | Rs. 1,000 per NCD |
| Min Application Size | 10 NCD |
| Interest Payment Mode | Through various option available |
| Issuance | D'mat / Physical |
| Rating | AA- CARE , CRISIL |
| Listing | BSE NSE |
| Cheque Details | " India Infoline Housing Finance Ltd - NCD Escrow " |
Issue Structure -Interest RateIssuer India Infoline Housing Finance Ltd Coupon Rate 12.00% Effective Yield 12.25% (Cumulative Option)
12.68% (Monthly Option) Maturity 60 Months Interest Monthly , Cumulative
Cheque Details-
Retail Investor : ” India Infoline Housing Finance Ltd – NCD Escrow “
VIEW on this Issue – I think that the unsecured nature of the NCD (subordinated) from IIHFL makes it a risky investment proposition. I recommend investors to stay away from the said NCD. However, if you risk appetite enables you to invest in such an unsecured NCD you may consider investing in the same to earn an attractive yield. Investors with conservative and moderate risk profile may skip this NCD issue and wait for better rated “secured” NCDs which may carry lower risk.
READ Below Clause in Draft Prospectus before Investing (Please refer to point no 38 on Page 42 – )
Risk pertaining to this Issue
38. There are certain risk in connection with the NCDs being unsecured.
The NCDs will be in the nature of subordinated debt and hence the claims of the holders therof will be subordinated to the claims of other secured and other senior unsecured creditors of our company. Further, since no charge upon the assets of our company would be created in connection with the NCDs, in the event of default in connection therewith the holders of NCDs may not be able to recover their principal amount and/or the interest accrued thereon in a timely manner, for the entire value of the NCDs may lose all or a part of their investment therein. Further, the payment of interest and the repayment of the principal amount in connection with the NCDs would be subject to the requirements of NHB, which may also require our Company to obtain a prior approval from the NHB in certain circumstances.
[/wptabcontent]
[wptabtitle] About Issue[/wptabtitle] [wptabcontent]About the Issuer
India Infoline Housing Finance Ltd is wholly owned subsidiary of India Infoline Finance Ltd & offer housing loans & Loans against Property. Their lending products include Mortgage Loans, which includes Retail Mortgage Loan & Corporate Mortgage Loans. These loans are bifurcated into Housing Loans & Loans Against Property.
Housing Loans includes finance for purpose of flats, construction of houses, extension & for improvement in the flats/homes & for acquiring plots of land (which are intended to be used for construction of houses). LAP is availed for, working capital requirements, for business use or acquisition of new property and for financing construction projects.
Promoter, India Infoline Finance Ltd is a systematically important non-deposit taking NBFC focusing on Mortgage Loans, Commercial Vehicle Finance, Gold Loan, Capital Market Finance & Healthcare Finance.
Promoter, India Infoline Finance Ltd is a subsidiary of India Infoline Ltd, a diversified financial services organization having presence across India.
[/wptabcontent]
[wptabtitle] Subscription[/wptabtitle] [wptabcontent] India Infoline Housing Finance NCD Subscription Data March 2014 Issue
| Cat I | Cat II | Cat III | Total | |||
|---|---|---|---|---|---|---|
| Cat I | Cat II | Cat III | Total | |||
| Issue | 60 | 20 | 120 | 200 | ||
| 21 Mar | Subscribe | 10.00 | 40.00 | 119.48 | 169.48 | |
| No of times | 0.17 | 2.00 | 0.99 | 0.85 | ||
| Unsubscribe | 50.00 | -20.00 | 0.52 | 30.52 | ||
| 20 Mar | Subscribe | 10.00 | 40.00 | 115.25 | 165.25 | |
| No of times | 0.17 | 2.00 | 0.96 | 0.83 | ||
| Unsubscribe | 50.00 | -20.00 | 4.75 | 34.75 | ||
| 19 Mar | Subscribe | 10.00 | 29.61 | 111.52 | 151.13 | |
| No of times | 0.17 | 1.48 | 0.93 | 0.75 | ||
| Unsubscribe | 50.00 | -9.61 | 8.48 | 48.87 | ||
| 18 Mar | Subscribe | 10.00 | 27.94 | 105.93 | 143.87 | |
| No of times | 0.17 | 1.40 | 0.88 | 0.72 | ||
| Unsubscribe | 50.00 | -7.94 | 14.07 | 56.13 | ||
| 14 Mar | Subscribe | - | 24.52 | 94.14 | 118.65 | |
| No of times | - | 1.23 | 0.78 | 0.59 | ||
| Unsubscribe | 60.00 | 4.52 | 25.86 | 81.35 | ||
| 13 Mar | Subscribe | - | 18.05 | 81.58 | 99.63 | |
| No of times | - | 0.90 | 0.68 | 0.50 | ||
| Unsubscribe | 60 | 1.96 | 38.42 | 100.37 | ||
| 12 Mar | Subscribe | - | 16.38 | 60.90 | 77.27 | |
| No of times | - | 0.82 | 0.51 | 0.39 | ||
| Unsubscribe | 60 | 3.62 | 59.10 | 122.73 |
[/wptabcontent]
[wptabtitle]Listing[/wptabtitle] [wptabcontent]
India Infoline Housing Finance NCD Allotment Listing Details with ISIN No , Script Code, Interest Payment Date etc.
| NCD 2013-14 | India Infoline Housing FInance Ltd - IIHFL |
|---|---|
| Issue Open | 12 Mar 2014 |
| Issue Close | 24 Mar 2014 |
| Issue Registrar | Link Intime |
| Listing Exchange | BSE /NSE |
| Allotment Date | |
| Listing Date | |
| Interest Payment Date | |
| Face Value | 1000 |
| Circular Ref. No | BSE - NSE - |
| India Infoline Housing Finance Ltd | IIHFL |
|---|---|
| Coupon | 12.00% |
| Period | 60 month |
| ISIN No | |
| BSE Script | |
| NSE Script | |
| Maturity | |
| Maturity Amt |
[/wptabs]
Application Form & Investment Call : Rajendra 800 775 0904
rajendra@puneinvest.com
Mobile 7719917444
