IIFL Home Finance files draft shelf prospectus to raise Rs5,000 crore via NCDs
Premium- The face value of each secured and unsecured NCD will be Rs1,000 each and will be issued in one or more tranches
IIFL Home Finance Ltd (IIFLHFL) on Monday filed a draft shelf prospectus with the exchanges to raise ₹5,000 crore through a public issue of non-convertible debentures (NCDs).
The face value of each secured and unsecured NCD will be ₹1,000 each and will be issued in one or more tranches. The company has filed the prospectus with both the BSE and NSE.
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The housing finance company will use the proceeds for onward lending, financing, repayment of existing borrowings and general corporate purposes.
IIFLHFL’s main focus is to provide loans to the first-time homebuyers in the economically weaker section and lower-income segments in the suburbs of Tier-I, Tier-II and Tier-III cities, salaried and self-employed customers account for 44.37% and 55.63% of its assets under management(AUM) as of March 31, 2021
AUM of the company has increased from ₹9,769.32 crore, as of March 31, 2017 to ₹20,693.69 crore, as of March 31, 2021, at a cumulative annual growth rate (CAGR) of 20.64%. As of 31 March 2021, Gross NPA as a percentage of AUM stood at 1.72% and our Net NPA as a percentage of AUM was 1.20%.
The proposed NCDs are rated AA/Stable by Crisil Ratings Ltd and BWR AA+/Negative (Assigned) by Brickwork Ratings India Pvt Ltd.
Edelweiss Financial Services Ltd, ICICI Securities Ltd, Trust Investment Advisors Pvt Ltd and Equirus Capital Pvt Ltd are the lead managers to the issue.
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