Established in 2005, Indiabulls Housing Finance NCD specializes in providing mortgage lending services and operates as a non-deposit-taking housing finance company (“HFC”) under the supervision of the National Housing Bank (NHB).
Indiabulls Housing Finance NCD stands as one of India’s leading housing finance companies and serves as the flagship entity of the Indiabulls Group. The company extends housing loans and loans against property to diverse segments, including (i) salaried employees, (ii) self-employed individuals, (iii) micro, small, and medium-sized enterprises (“MSMEs”), and (iv) corporates. Furthermore, it offers mortgage loans to real estate developers in India, encompassing lease rental discounting for commercial properties and construction finance for residential construction projects.
As of June 30, 2023, the company boasts a network of 217 branches strategically located across India. Additionally, the company maintains a direct sales team comprising 8,726 employees on a consolidated basis as of June 30, 2023. On a standalone basis, housing loans and non-housing loans accounted for 57% and 43% of its portfolio, respectively, as of March 31, 2023. On a standalone basis, the Loan Book stood at ₹47,483.47 crores as of June 30, 2023, while on a consolidated basis, it reached ₹56,276.03 crores as of the same date.
The company boasts a robust credit rating, holding a “AA; Outlook Stable” rating from both CRISIL and ICRA, a “AA; Outlook Negative” rating from CARE Ratings, and a “AA+; Outlook Stable” rating from Brickwork Ratings for its non-convertible debentures and subordinated debt program.
Incorporating the keyword “Indiabulls Housing Finance NCD,” it’s important to note that the company’s non-convertible debentures (NCDs) play a significant role in its financing and investment strategies.
Indiabulls Housing Finance NCD Sep 2023 Detail
| Issue Open | September 6, 2023 – September 20, 2023 |
| Security Name | Indiabulls Housing Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 200.00 Crores |
| Issue Size (Shelf) | Rs 2,000.00 Crores |
| 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 and120 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. |
NCD Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 30% |
| Non-Institutional | 10% |
| HNI | 30% |
| Retail | 30% |
NCD Rating
The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable by CRISIL Ratings Limited and ICRA AA (Stable) by ICRA Limited with such ratings considered to have a stable outlook.
Company Promoters
The Company has no identifiable promoters and is a professionally managed company.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 93,239.03 | 81,973.32 | 74,945.24 |
| Revenue | 10,030.12 | 8,993.90 | 8,725.79 |
| Profit After Tax | 1,201.59 | 1,177.74 | 1,127.68 |
| Net Worth | 16,076.03 | 16,616.23 | 17,303.42 |
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company; and
- General corporate purposes.
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