Established in 2005, Indiabulls Housing Finance Limited specializes in providing mortgage finance services. It operates as a non-deposit-taking housing finance company (HFC) under the registration of the National Housing Bank (NHB).
As one of India’s leading housing finance companies and the flagship entity of the Indiabulls Group, it caters to various segments including salaried individuals, self-employed professionals, micro, small, and medium enterprises (MSMEs), as well as corporates. Its offerings encompass home loans, loans against property, and mortgage loans tailored for real estate developers. These services include lease rental discounting for commercial properties and construction loans for residential projects.
By December 31, 2023, the company had expanded its reach with a network of 217 branches across India and employed 1,589 individuals in direct sales. Its loan portfolio, as of March 31, 2023, comprised 57% housing loans and 43% non-housing loans.
Indiabulls Housing Finance Limited boasts a robust credit rating, with CRISIL and ICRA rating it as “AA” with a stable outlook, while CARE Ratings assigned a “AA” rating with a negative outlook. Additionally, Brickwork Ratings awarded it a “AA+” rating with a stable outlook for its non-convertible debentures and subordinated debt program.
Indiabulls Housing Finance NCD IPO. Tranche V March 2024 Detail
| Issue Open | March 5, 2024 – March 19, 2024 |
| Security Name | Indiabulls Housing Finance NCD IPO |
| 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 NCD IPO Allocation Ratio
Indiabulls Housing Finance Limited NCD IPO Coupon Rates
Indiabulls Housing Finance NCD IPO Rating
The Non-Convertible Debentures (NCDs) intended for issuance in this offering have received credit ratings of CRISIL AA/Stable from CRISIL Ratings Limited and ICRA AA (Stable) from ICRA Limited. These ratings, indicating a stable outlook, affirm the reliability and stability of the proposed NCDs.
Company Promoters
The Company has no identifiable promoters and is a professionally managed company.
Company Financials
Indiabulls Housing Finance Limited Financial Information (Restated Consolidated)
Indiabulls Housing Finance Limited’s revenue decreased by -2.98% and profit after tax (PAT) dropped by -4.25% between the financial year ending with March 31, 2023 and March 31, 2022.
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.
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