Indiabulls Housing Finance Limited announces ₹ 1,000 crore Public Issue of Secured and/or Unsecured
Indiabulls Housing Finance Limited announces ₹ 1,000 crore Public Issue of Secured and/or Unsecured Redeemable Non-Convertible Debentures (NCDs)
- Coupon Rate of up to 9.75% per annum*
- Security cover of 1.25 times on the principal amount and interest thereon
- Tranche I Issue rated as ‘CRISIL AA/Stable (double A: Stable) by CRISIL Ratings Limited and BWR AA+/Negative (double A plus/Negative) by Brickworks Ratings Pvt Ltd
- Tranche I Issue opens on September 06, 2021 and closes on September 20, 2021**
- Trading in dematerialized form only
- Allotment on first -come- first-serve-basis
- The NCDs are proposed to be listed on BSE and NSE.
Chennai, 03 September, 2021: Indiabulls Housing Finance Limited, a housing finance company regulated by the Reserve Bank of India, has announced the public issue of secured/ and or unsecured, redeemable, non-con vertible debentures of the face value of Rs. 1,000 each. The Tranche I Issue opens on September 06, 2021 and closes on September 20, 2021.
The Tranche I Issue has a base issue size of Rs. 200 crores with a green shoe option up to Rs. 800 crores, ag gre gating up to Rs. 1,000 crores (“Tranche I Issue”). The Tranche I Issue offers various options for subscription with coupon rates ranging from 8.05% to 9.75% per annum. There are 10 Series of NCDs carrying fixed coupon and having tenures ranging 24 months, 36 months, 60 months and 87 months with annual, monthly and cumulative option.
The NCDs are proposed to be listed on BSE and NSE (collectively, “Stock Exchanges”) with BSE as the Designated Stock Exchange for the Issue. The NCDs have been rated CRISIL AA/Stable by CRISIL Ratings Limited and BWR AA+ / Negative by Brickwork Ratings India Private Limited.
An additional incentive maximum of 0.25% p.a. will be offered for Category III (HNI) and Category IV (Retail) Investors in the proposed Issue, who are also holders of NCD(s)/ Bond(s) previously issued by the Company, and/ or its Subsidiaries as the case may be, and/or are equity shareholder(s) of Indiabulls Housing Finance Limited as the case may be on the deemed date of allotment.
The Lead Managers to the issue are Edelweiss Financial Services Limited, IIFL Securities Limited and Trust Investment Advisors Private Limited.
At least 75% of the funds raised through this Tranche I Issue will be used for the purpose of onward lending, fin ancing, and for repayment of interest and principal of existing borrowings of the Company and the balance is proposed to be utilized for general corporate purposes, subject to such utilization not exceeding 25% of the amount raised in the Tranche I Issue. The unsecured NCDs are in the nature of subordinated debt and will be eligible for Tier II capital.
About Indiabulls Housing Finance Limited (IBHFL):
Indiabulls Housing Finance Ltd. (IBHFL) is one of India’s largest housing finance companies (HFCs), regulated by the Reserve Bank of India (RBI). IBHFL is rated ‘AA’ by leading rating agencies including CRISIL, ICRA and CARE Ratings and at ‘AA+’ by Brickwork Ratings.
The company offers mortgage-backed housing loans to individuals and mortgage-backed business loans to small business owners and MSMEs and has assets under management of Rs. 79,213 crore with more than 1 million happy customers as of 30th June 2021. 
*For further details refer to section titled “Issue Related Inform ati on” on page 79 of the Tranche I Prospectus dated September 1, 20 21. Allotment in the public issue of debt securities should be made on the basis of date of upload of each application into the electro nic book of the stock exchange. However, on the date of oversu bs cription, the allotments should be made to the applicants on pr
op ortionate basis.
**The Tranche I Issue shall remain open for subscription on Working Days from 10 a.m. to 5 p.m. (Indian Standard Time) during the period indicated above, except that the Issue may close on such earlier date or extended date as may be decided by the Board of Directors of our Company or the Bond Issue Committee, subject to relevant approvals. In the event of an early closure or extension of the Issue, our Company shall ensure that notice of the same is provided to the prospective investors through an advertisement in a daily national newspaper with wide circulation on or before such earlier or initial date of Tranche I Issue closure. On the Tranche I Issue Closing Date, the Application Forms will be accepted only between 10 a.m. and 3 p.m. (Indian Standard Time) and uploaded until 5 p.m. or such extended time as may be permitted by the Stock Exchange. For further details please refer to our section titled “Issue Related Information” on page 79 of the Tranche I Prospectus.
Capitalised terms not defined herein shall have the same meaning as assigned to such terms in the Shelf Prospectus dated September 1, 2021 and Tranche I Prospectus dated September 1, 2021.
DISCLAIMER: Indiabulls Housing Finance Limited (“Company”), subject to market conditions, and other considerations, is proposing a public issue of secured redeemable non-convertible debentures and unsecured subordinated redeemable non-convertible debentures and has filed a Shelf Prospectus dated September 1, 2021 (“Shelf Prospectus”) and Tranche I Prospectus dated September 1, 2021 (“Tranche I Prospectus”) with the Registrar of Companies, National Capital Territory of Delhi and Haryana , BSE Limited (“BSE”), National Stock Exchange of India Limited (“NSE”) and Securities and Exchange Board of India (“SEBI”). The Shelf Prospectus and Tranche I Prospectus is available on the website of the Company at https://www.indiabullshomeloans.com/, on the website of BSE at www.bseindia.com, on the website of NSE at www.nseindia.com , on the website of the lead managers at www.edelweissfin.com, www.iiflcap.com and www.trustgroup.in, and on the website of SEBI at www.sebi.gov.in. Investors proposing to participate in the Issue should note that investment in the NCDs involves a high degree of risk and for details in relation to the same, refer to the Shelf Prospectus and Tranche I Prospectus, including the section titled “Risk Factors” and “Material Developments” beginning on page 21 and 55 of the Shelf Prospectus and Tranche I Prospectus respectively. The Issuer and the Lead Managers accept no responsibility for statements made otherwise than in the offer documents or in the advertisement or any other material issued by or at the instance of the Company and that anyone placing reliance on any other source of information would be doing so at their own risk.
DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE should not in any way be deemed or construed that the Prospectus has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause of the BSE.
DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Prospectus has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause of the NSE.
DISCLAIMER CLAUSE FOR USE OF BSE ELECTRONIC PLATFORM: It is to be distinctly understood that the permission given by the BSE to use their network and software of the Online system should not in any way be deemed or construed as compliance with various statutory requirements approved by the Exchange; not does it in any manner warrant, certify or endorse the correctness or completeness of any of the compliance with the statutory and other requirements; nor does it take any responsibility for the financial or other soundness of this Company, its promoters, its management or any scheme or project of this Company.
DISCLAIMER CLAUSE FOR USE OF NSE ELECTRONIC PLATFORM: It is to be distinctly understood that the permission given by the NSE to use their network and software of the Online system should not in any way be deemed or construed as compliance with various statutory requirements approved by the Exchange; not does it in any manner warrant, certify or endorse the correctness or completeness of any of the compliance with the statutory and other requirements; nor does it take any responsibility for the financial or other soundness of this Company, its promoters, its management or any scheme or project of this Company.
DISCLAIMER STATEMENT OF CRISIL RATINGS LIMITED
CRISIL Ratings Limited (CRISIL Ratings) has taken due care and caution in preparing the Material based on the inform ation provided by its client and / or obtained by CRISIL Ratings from sources which it considers reliable (Information). A CRISIL Ratings’ rating reflects CRISIL Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument and does not constitute an audit of the rated entity by CRISIL Ratings. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A CRISIL Ratings’ rating is not a recommendation to buy, sell, or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. The Rating is not a recommendation to invest / disinvest in any entity covered in the Material and no part of the Material should be construed as an expert advice or investment advice or any form of investment banking within the meaning of any law or regulation. CRISIL Ratings especially states that it has no liability whatsoever to the subscribers / users / transmitters/ distributors of the Material. Without limiting the generality of the foregoing, nothing in the Material is to be construed as CRISIL Ratings providing or intending to provide any services in jurisdictions where CRISIL Ratings does not have the necessary permission and/or registration to carry out its business activities in this regard. Indiabulls Housing Finance Limited will be responsible for ensuring compliances and consequences of non-compliances for use of the Material or part thereof outside India. Current rating status and rating criteria by CRISIL Ratings are available without charge to the public on the CRISIL Ratings web site, www.crisilratings.com. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please contact Customer Service Helpdesk at 1800-267-1301.
DISCLAIMER CLAUSE OF BRICKWORK RATINGS INDIA PRIVATE LIMITED
Brickwork Ratings (BWR) has assigned the rating based on the information obtained from the issuer and other reliable sources, which are deemed to be accurate. BWR has taken considerable steps to avoid any data distortion; however, it does not examine the precision or completeness of the information obtained. And hence, the information in this report is presented “as is” without any express or implied warranty of any kind. BWR does not make any representation in respect to the truth or accuracy of any such information. The rating assigned by BWR should be treated as an opinion rather than a recommendation to buy, sell or hold the rated instrument and BWR shall not be liable for any losses incurred by users from any use of this report or its contents. BWR has the right to change, suspend or withdraw the ratings at any time for any reasons.
