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IPO

BondsIndia

AA-

Opening Date

06 Jan 2023

Closing Date

18 Jan 2023

Yield

Upto 9.00%

Tenure

Upto 60 Months

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Time to close

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Company Details
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Home   /   IPO   /   IIFL FINANCE

IPO

IIFL FINANCE

Ongoing IPO

IIFL FINANCE

Opening Date
06 Jan 2023

BondsIndia

AA-

Closing Date
18 Jan 2023

bondsindia

Time to close

Yield
Upto 9.00%

Tenure
Upto 60 Months

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IPO Details

IPO Details

Issue Size (Including Green Shoe Option) 1000 crores
Face Value ₹1000
Coupon Upto 9.00%
Minimum Number of Bonds 10
Lot Size (Multiplier) 1
Allotment Date (Tentative) 24 Jan 2023
Listing Date (Tentative) 27 Jan 2023
Exchange Bid Time (24 Hours) 10:00 to 17:00

Documents attached

Information Memorandum

 

BondsIndia
Product Note

 

BondsIndia

*Allotment on first come first serve basis

 

ISSUE STRUCTURE

Series
I
II
III
IV*
V
VI
VII
Nature Of NCDs
Secured Redeemable Non-Convertible Debentures
Who Can Apply
Everyone
Frequency of Interest payment
Yearly
Cumulative
Yearly
Cumulative
Monthly
Yearly
Cumulative
Minimum Application
10000 (10 NCDs) across all Series
Face Value/ Issue Price of NCDs (₹/ NCD)
1000
In multiples of thereafter ()
10000 (1 NCD)
Tenure (Months)
24
Months
24
Months
36
Months
36
Months
60
Months
60
Months
60
Months
Coupon (% per annum) for NCD Holders in Category I & II
8.50%
NA
8.75%
NA
8.65%
9.00%
NA
Coupon (% per annum) for NCD Holders in Category III & IV
8.50%
NA
8.75%
NA
8.65%
9.00%
NA
Effective Yield (per annum) for NCD Holders in Category I & II
8.49%
8.50%
8.74%
8.75%
9.00%
8.99%
9.00%
Effective Yield (per annum) for NCD Holders in Category III & IV
8.49%
8.50%
8.74%
8.75%
9.00%
8.99%
9.00%
Mode of Interest Payment
Through various modes available

How to invest in the IIFL Finance IPO?

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.

Why choose 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 Indiabulls IIFL Finance IPO on BondsIndia’s website.

Place your bid in three simple steps:

1

Key in Basic Details

2

Choose the IPO Series

3

Place the bid

How to invest in the
Indiabulls IIFL Finance ?

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 a 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.

AUM

45,910 Crs

GNPA

2.9%

  • IIFL Finance
    IIFL Finance is the listed holding company of the IIFL Finance group and is registered as a systemically important non-deposit taking non-banking financial company NBFC. The group offers various retail lending products, including gold loans, home loans, LAP, business loans and microfinance loans which are the core segments and form 93% of the AUM while the rest comprises of capital market-based lending (margin funding and loans against shares) and construction and developer finance. As of March 2022, promoters held 24.9% stake in IIFL Finance, while 22.3% is held by Mr Prem Watsa-owned Fairfax Holdings and 7.8% by CDC Group PLC.
  • On a consolidated basis, IIFL Finance had total income net of interest expenses and profit after tax PAT of Rs 4,015 crore and Rs 1,188 crore, respectively, in fiscal 2022 against Rs 3,364 crore and Rs 761 crore, respectively, in the previous fiscal.
  • On a standalone alone basis, IIFL Finance reported total income net of interest expenses and PAT of Rs 2,474 crore and Rs 745 crore, respectively, in fiscal 2022 against Rs 1,881 crore and Rs 343 crore, respectively, in the previous fiscal. On a standalone alone basis, IIFL Home reported total income net of interest expenses and PAT of Rs 1,159 crore and Rs 578 crore, respectively, in fiscal 2022 against Rs 1,014 crore and Rs 401 crore, respectively, in the previous fiscal.
  • Diversified retail lending portfolio and an extensive branch network Consolidated AUM stood at Rs 51,210 crore as on March 31, 2022 Rs 44,688 crore a year earlier. IIFL Finance is primarily engaged in lending across various retail asset classes. Its two lending subsidiaries, IIFL Home and IIFL Samasta, carry out the mortgage finance and microfinance businesses, respectively.

    Retail loans accounted for 93% of the AUM as on March 31, 2022, and had high granularity loans of less than Rs 1 crore. Also, 69% of the portfolio, excluding gold loan business qualified under priority sector lending as on March 31, 2022. The company has four key segments: home loans 35% of the AUM as on March 31, 2022, gold loans 32%, business loans 15% and microfinance 12%, which together accounted for 93% of the AUM, up from 67% as on March 31, 2017. These segments will continue to drive growth over the medium term. Apart from these, there are two non-core but synergistic segments, construction and real-estate CRE funding and capital market lending.

    The company has been consciously reducing the book under these segments, which together accounted for only 7% as on March 31, 2022. Under CRE, the company continues to finance the completion of projects that were already funded by it and construction finance, while the capital market segment finances the retail clients of IIFL Securities Ltd. Growth is also supported by a wide network of 3,296 branches as of March 2022, spread across 1260 towns/cities. The company leverages its distribution network to cross-sell financial products of other IIFL entities. It has made substantial investments in technology to leverage its geographical reach.

    On a standalone level, IIFL Finance had AUM of Rs 21,109 crore as on March 31, 2022 Rs 19,199 crore a year earlier, primarily towards gold loans 77%, business loans 9%, developer and construction finance 11% and capital markets 3%. IIFL Home had AUM of Rs 23,617 crore as on March 31, 2022 Rs 20,694 crore a year earlier, largely toward home loans 75%, followed by loans against property LAP; 23% and construction finance 2%. IIFL Samasta had AUM of Rs 6,484 crore as on March 31, 2022 Rs 4,796 crore as on March 31, 2021.
  • Average, albeit improving, profitability While CRISIL Ratings-adjusted return on managed assets RoMA; adjusted for upfront income from direct assignment DA improved to 1.4% for fiscal 2022 from 1.3% in fiscal 2021 0.9% in 2020, it remains modest. Including income from DA, RoMA stood at 2.1% for fiscal 2022 1.6% for fiscal 2021. On an absolute basis, IIFL Finance consolidated reported net profit of Rs 1,188 crore in fiscal 2022, up from Rs 761 crore in the previous fiscal and Rs 503 crore in fiscal 2020. Earnings were supported by lower credit cost and higher upfront income from DA transactions.

    Credit cost provisions and write-offs average managed assets was 1.5% in fiscal 2022 compared with 2.4% in fiscal 2021. Elevated credit cost was mainly on account of Covid-19, which led to an increase in the delinquency levels. The company is increasingly looking at the partnership model, and co-lending is expected to contribute to improving profitability as this book materially scales up over the medium term.

    On consolidated and standalone basis, IIFL Finances GNPAs inched up to 3.2% and 2.9% respectively as on March 31, 2022, from 2.1% and 2.4% respectively as on March 31, 2021. This includes the impact of the notification released by the RBI on November 12, 2021 and excluding the same, GNPAs on a consolidated basis would stand at 2.3%.

    On a standalone basis, IIFL Home and IIFL Samasta reported GNPAs excluding impact of Nov 12 circular of 2.1% and 3.1% respectively as on March 31, 2022 2.0% and 1.8%, respectively, as on March 31, 2021. GNPAs for the home loan segment stood at 2.6%, gold loan at 0.9%, business loans at 6.0% and microfinance at 3.9%. Apart from this, the IIFL Finance groupu2019s restructured book stood at 0.7% of the AUM as on March 31, 2022. Ability to maintain delinquency levels and manage credit cost continues to be a key monitorable.
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* Investments in debt securities are subject to risks. Read all the offer related documents carefully.
N/A stands for Not Applicable

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