Opening Date
6 Sep 2024
Closing Date
19 Sep 2024
Yield
Upto 10.70%
Tenure
Upto 60 Months
Ongoing IPO
Opening Date
6 Sep 2024
Closing Date
19 Sep 2024
Time to close
Yield
Upto 10.70%
Tenure
Upto 60 Months
| Issue Size (Including Green Shoe Option) | 300 | ||
| Face Value | 1000 | ||
| Coupon | Upto 10.70% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 24 Sep 2024 | ||
| Listing Date (Tentative) | 27 Sep 2024 | ||
| Exchange Bid Time (24 Hours) | 10:00 to 17:00 | ||
Documents attached
*Allotment on first come first serve basis
Series | I | II | III | IV | V |
Nature Of NCDs | Secured Reedemable Non-Convertible Debenture | ||||
Who Can Apply | Everyone | ||||
Tenure | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months |
Frequency of Interest payment | YEARLY | CUMULATIVE | QUARTERLY | YEARLY | YEARLY |
Best Coupon Rate (% p.a.) for: | |||||
Category 1 | 10.50 % | -N.A.- | 10.30 % | 10.70 % | 10.50 % |
Category 2 | 10.50 % | -N.A.- | 10.30 % | 10.70 % | 10.50 % |
Category 3 | 10.50 % | -N.A.- | 10.30 % | 10.70 % | 10.50 % |
Category 4 | 10.50 % | -N.A.- | 10.30 % | 10.70 % | 10.50 % |
Effective Yield (% p.a.) for: | |||||
Category 1 | -N.A.- | -N.A.- | -N.A.- | -N.A.- | -N.A.- |
Category 2 | -N.A.- | -N.A.- | -N.A.- | -N.A.- | -N.A.- |
Category 3 | -N.A.- | -N.A.- | -N.A.- | -N.A.- | -N.A.- |
Category 4 | -N.A.- | -N.A.- | -N.A.- | -N.A.- | -N.A.- |
Application process on BondsIndia platform is simple and seamless.
•Click on the details of the company on the home page
•Fill in the Application form with the basic details such as Name, email address, mobile number, Pan details, bank and Demat details
•Then, confirm the quantity and price and select payment method.
•That's all folks , bidding complete!
Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.
BondsIndia is an online platform for fixed-income securities such as IPOs, bonds, 54EC bonds, and fixed deposits. With a cumulative pedigree of 50+ years in the bond market, we aim to democratize the market for common investors by stationing detailed insights, expert advice, and keeping a close watch on the market sentiment. BondsIndia brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive price before anyone else.
BondsIndia ditches the traditional ways of investing by offering a Technology based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose BondsIndia for its sleek interface, fail-safe communication and step-by-step guide to ensure a well-placed bid. You can apply for Edelweiss Financial Services Limited IPO on BondsIndia's website.
Place your bid in three simple steps:
Key in Basic Details
Choose the IPO Series
Place the bid
Application process on BondsIndia platform is simple and seamless.
Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.
Incorporated in July 2009, ICFL is registered with the Reserve Bank of India RBI as a systemically important nondeposit taking $$NBFC. Brookfield, one of the leading global alternative asset managers is the largest shareholder and promoter of ICFL, holding $$56.20%, followed by the Everstone group at 18.8% as on September 30, 2023. The Everstone group has completed the sale of $$14.21% of the total paidup equity share capital of the company through an Offer for Sale, to comply with the minimum public $$shareholding requirements as per Securities and Exchange Board of India SEBI. Pursuant to the same, the Everstone groups $$holding stands at 18.79% and public shareholding in the company increased to 25.01% w.e.f. May 5, 2023.
Strong institutional support from the majority shareholder and promoter,
Brookfield is the largest shareholder of ICFL with 56.20% shareholding as on September 30, 2023. Listed on the New York Stock Exchange and the Toronto Stock Exchange, it is on the leading global alternative asset manager offering investment strategies in property, infrastructure, renewable energy, private equity, and public securities to institutional investors with significant funding capabilities. ICFL represents Brookfields inaugural foray into private equity investments in India and marks its initial venture into the financial services sector.
Increased granularity of loan book owing to retail focus
ICFLs business is divided in four segments including commercial vehicle CV financing, small & medium enterprise SME financing, home financing and corporate lending with consolidated AUM of 7,726 crore as on September 30, 2023. While the company has primarily been in the wholesale financing space which formed 74% of the total AUM in FY18, the same has been consciously run down since FY19, as a part of the groups retailisation strategy, and currently forms 4.72% of the AUM as on September 30, 2023.
Comfortable capitalisation metrics
Consolidated tangible net worth TNW of ICFL increased to 2,433.37 crore as on September 30, 2023 from 2,250.10 crore as on March 31, 2022, on the back of internal accruals. As a result, gearing improved to 1.91x in H1FY24. Capital adequacy ratio CAR for ICFL standalone stood at 32.8% as on September 30, 2023, which is well above the regulatory requirement of 15% providing sufficient cushion to the company to achieve the desired growth. CAR for housing finance stands at 70.8% as on September 30, 2023.
Moderate earnings profile
On a consolidated basis, ICFL has reported losses from FY20 to FY22 as a result of high provisioning done owing to the COVID 19 pandemic as well as the control deficiencies identified in the CV portfolio. Nonetheless, the company has recorded consolidated profit after tax PAT of 225.15 crore for FY23 and reported ROTA of 2.58% on account of write backs resulting from the recoveries during the year against the provisioning made during the previous years.
Moderate asset quality metrics
albeit improving On consolidated basis, gross stage 3 GS3 stands at 6.7% as of September 2023 7.1% as of September 30, 2022, while net stage 3 NS3 stands at 3.3% as of September 30, 2022: 2.9% during the same period. The companyu2019s net restructured assets improved to 2.7% as of September 30, 2023, compared with 6.2% as on March 31, 2023
Adequate resource profile
Identification of control deficiencies in March 2022 had impacted subsequently ICFLs fund raising which consequently impacted its business operations in FY23. The management has been actively engaging with bankers and investors to avail funding lines and has been able to raise funds aggregating to 2,105 crore during H1FY24. While 74% of the funds raised during H1FY24 are in the form of NCDs, 14% in the form of working capital demand loans WCDLs, 9% in form of CPs, and only 4% comprise term loan.
Running out of
time? Loop!
BondsIndia is a brand name of Launchpad Fintech Private Limited, an e-business platform for Fixed Income securities that uses technology as a means to provide quality & real-time financial solutions to users.
View Application Status