IIFL Home Finance Limited

IIFL Home Finance Limited to raise up to  100 crore with an option to retain oversubscription of up to  400 crore aggregating up to  500 crore through Tranche I Prospectus dated November 27, 2024# 

Tranche I Issue Opens on December 6, 2024 and closes on December 19, 2024***


Coupon Rate Upto 9.25% p.a.; Effective Yield Up to 9.27% p.a.**

·        Public issue of secured, rated, listed, redeemable non-convertible debentures (“NCDs”) of face value and Issue price of  1,000 each

·        The Tranche I Issue includes a base Issue size of  100 crores with an option to retain oversubscription up to  400 crores aggregating up to  500 crores; within a shelf limit of  3,000 crore 

·        NCDs proposed to be issued pursuant to the Tranche I Issue are rated as “CRISIL AA/Stable” by CRISIL Ratings Limited and “IND AA/Stable” by India Ratings and Research Private Limited

·        Tenor options: 24 months, 36 months, 60 months & 84 months with monthly and annual coupon payment options

·        Coupon rate up to 9.25% p.a.** and Effective Yield up to 9.27% p.a.**

·        Allotment on first-come-first-serve basis$

·        The NCDs are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”). NSE Limited is the designated stock exchange for the Tranche I Issue.

Mumbai, 5th December 2024: IIFL Home Finance Ltd (“IIFL HFL”) has announced its public issue of secured, rated, listed redeemable non-convertible debentures of the face value of 1,000 each (“NCDs”) with a base Issue size of 100 crores with an option to retain any oversubscription up to  400 crores, aggregating up to  500 crores, which is within the shelf limit of ₹ 3000 crore (“Tranche I Issue”). The Tranche I Issue opens on Friday, December 6, 2024 and closes on Thursday, December 19, 2024 with an option of early closure in compliance with SEBI NCS Regulations.

The NCDs are proposed to be listed on BSE and NSE (“NSE” together with BSE, the “Stock Exchanges”) NSE shall be the Designated Stock Exchange for the Tranche I Issue. The NCDs have been rated as “CRISIL AA/Stable” by CRISIL Ratings Limited and “IND AA/Stable” by India Ratings and Research Private Limited.

The Tranche I Issue offers various series of NCDs for subscription with coupon rates ranging from 8.85% per annum to 9.25% per annum. The NCDs under the Tranche I Issue are being offered with maturity/ tenor options of 24 months, 36 months, 60 months and 84 Months with monthly and annual coupon payments options across series I, II, III, IV, V, VI, VII, VIII and IX. Effective yield (per annum) for the NCD holders in all categories of Investors ranges from 8.85% per annum to 9.27% per annum.

Net proceeds of the Tranche I Issue, after meeting the expenditures of and related to the Tranche I Issue, at least 75% shall be utilised for the purpose of onward lending, financing / refinancing the existing indebtedness of the Company, and/or debt servicing payment of interest and/or repayment / prepayment of interest and principal of existing borrowings of the Company and maximum up to 25% for general corporate purposes.

The terms of each series of NCDs offered under the Tranche I Issue are set out below:

Particulars

Series 1

Series II

Series III

Series IV*

Series V

Series VI

Series VII

Series VIII

Series IX

Frequency of Interest Payment

Annual

NA

Monthly

Annual

NA

Monthly

Annual

NA

Annual

Nature

Secured

Tenor

24 months

36 months

60 months

84 months

Coupon Rate

8.85%

NA

8.65%

9.00%

NA

8.90%

9.25%

NA

9.25%

Effective Yield

(% per Annum)

8.85%

8.85%

9.00%

9.00%

9.00%

9.27%

9.25%

9.25%

9.25%

Amount on Maturity

1,000

1,184.85

1,000

1,000

 1,295.20

1,000

 1,000

 1,557

 1,000

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