IIFL Finance to raise up to ₹1,000 crore through Public Issue of Unsecured Subordinated Redeemable NCD

IIFL Finance Limited (Formally known as IIFL Holding Limited)  will launch its  public issue of unsecured subordinated redeemable non-convertible debenture to raise up to Rs.1000 cr with a base issue size of Rs 100 cr and a green-shoe option to retain over subscription of up to Rs 900 cr, for the purpose of business growth and capital augmentation.

The bonds offer up to 10.03% yield for a tenor of 87 months and is thus provide an advantage against interest rate fluctuations in future. The issue has been rated AA by Crisil and AA+ by Brickwork.

Features of IIFL Finance NCD March, 2021 – Tranche I

Issue start date: 3-March-2021

Issue end date: 23-March-2021 (with an option of early closure)

It offers NCD bonds for 87 months tenure (7 years 3 months).

Coupon interest rates are between 9.6% to 10%. The yield is up to 10.03%.

These are unsecured Non Convertible Debentures.  

Face Value Rs.1000.

Minimum investment Rs.10000

These NCD bonds would be listed on NSE & BSE to provide liquidity to investors.

NRI’s cannot apply to this NCD subscription.

The allotment will be made on first come first served basis

The lead managers to the issue are Edelweiss Financial Services Limited, IIFL Securities Limited and Equirus Capital Private Limited.

NCD’s are available in the 3 series.  

·         Series-I would provide interest every year,

·         Series-II would provide monthly

·         Series-III would provide interest only on maturity.

Interest payable frequency are monthly, yearly and on maturity depending on the option chosen by the NCD investor.  

IIFL has a strong physical presence of 2500 branches across India and a well-diversified retail portfolio, IIFL Finance caters to the credit need of underserved population.IIFL Finance's loan assets under management stand at Rs 42,264 cr. The company's 90 per cent of the book is retail which is focused on small ticket loans.

IIFL Finance had a gross non-performing asset (NPA) ratio of 1.61% and a net NPA ratio of 0.77% and its total capital adequacy ratio stood at 21.4% at the end of December 2020. In Q3 FY21, IIFL Finance reported a profit after tax of ₹268 crore. up by 26 per cent from the year-ago period. The return on equity was 18.4 per cent.        

IIFL Finance stock was trading at Rs 277 on NSE, 26 Feb 2021 at 3:30pm, down 0.32 per cent from previous close.   

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Security Name	Start Date	End Date	Offer Price	Face Value	Type of Issue	Issue Status
Muthoot Fincorp Limited	18-02-2021	09-03-2021			Debt Issue	Live
RBL*	27-10-2020	26-04-2021	825.00	10.00	BuyBack	Live
HINDPETRO*	17-11-2020	14-05-2021	250.00	10.00	BuyBack	Live
SREEL*	04-12-2020	03-06-2021	160.00	10.00	BuyBack	Live
FRSHTRP*	10-02-2021	09-08-2021	90.00	10.00	BuyBack	Live
VRLLOG*	15-02-2021	14-08-2021	300.00	10.00	BuyBack	Live
ANUP*	24-02-2021	23-08-2021	800.00	10.00	BuyBack	Live
PATEL INTEGRATED LOGISTICS LTD	26-02-2021	12-03-2021	10.00	10.00	RI	Live
TATA STEEL LTD.	01-03-2021	15-03-2021	461.00	7.50	RI	Forthcoming
Authum Investment & Infrastructure Ltd	01-03-2021	15-03-2021	81.00	10.00	RI	Forthcoming
Satin Creditcare Network Ltd	03-03-2021	17-03-2021	30.00	5.00	RI	Forthcoming
REMI EDELSTAHL TUBULARS LIMITED	23-02-2021	01-03-2021	19.69	10.00	Delisting	Live
NEELAMALAI AGRO INDUSTRIES LTD	24-02-2021	09-03-2021	1600.00	10.00	Buyback - Tender Offer	Live
REMI ELEKTROTECHNIK LIMITED	01-03-2021	05-03-2021	11.52	10.00	Delisting	Forthcoming

HERANBA IPO

_{Heranba IPO subscribed 83.3 times on the last day}

_{The public issue received bids for 58,15,01,663 shares a against the total issue size of 69,81,417 shares. The retail investors portion of the share sale was subscribed 11.84 times, while that of non-institutional investors has been subscribed 271.15 times and qualified institutional buyers, whose alloted shares were subscribed 67.4 times at the close of the bidding process.}

The ₹625-crore initial public offering (IPO) of Heranba Industries was subscribed 83.3  times on the last day of bidding. The public issue received bids for 58.15 crore equity shares against an offer size of 69.81 lakh shares, according to the subscription data available on the exchanges. 

_{Objective of the Issue:}

• _{To meet business working capital requirements.}
• _{To meet general corporate purposes.} 
• _{To meet public issue expenses.}

_{Company Promoters:}

• Sadashiv K. Shetty                    
• Raghuram K. Shetty

Heranba is one of the leading domestic producers of pyrethroids with a 19.6 per cent market share. Pyrethroids accounted for 68 per cent of the company's revenues in FY20.

It is Incorporated in 1992, Heranba Industries Limited is a Gujarat-based crop protection chemical manufacturer. It is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, deltamethrin, lambda-cyhalothrin, etc. The company manufactures different types of pesticides including insecticides, fungicides, herbicides, and other pest control products.

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B) Regular trading session
Normal / Limited Physical Market Open: 09:15 hrs
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Afternoon Window: This window shall operate between 02:05 PM to 2:20 PM.

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