But the IPO is wholesome!
You might want to sit down for this one. Too good if you already are. The eternal adage of eating healthy food and getting enough sleep just got added with another point: Don’t miss the wholesome investment opportunities. IIFL Home Finance Ltd. is all set to open the gates for investors for IPO bidding on the 8th of December this year.
The social unit, which is among the top seven finance conglomerates of India, will offer a breezy online IPO process through its trading website, based on the UPI payment gateway. If that wasn’t enough, the IPO has been rated AA by the CRISIL (independent credit rating agency) and comes with up to 8.75 percent annual interest and tenure of up to 84 months. All you need to do is feed in your basic details, Bank account, and Demat details, the number of shares you need, and place your bid.
About the Company (company stats, standings, etc.)
| Issuer | IIFL Finance Ltd |
|---|---|
| Type of instrument | Secured Redeemable Non-Convertible Debentures |
| Listing | Bombay Stock Exchange Limited and National Stock Exchange of India Limited |
| Issue Size | Base Issue of Rs. 100 Crore with an option to retain oversubscription up to Rs. 900 Crore aggregating to Rs. 1000 Crore |
| Face Value | Rs. 1000 per NCD |
| Minimum Investment | Rs. 10,000 |
| Issue Opening Date | December 8, 2021 |
| Issue Closing Date | December 28, 2021 (*with an option of early closure) |
| Mode of Application | UPI and ABSA |
| Mode of Issuance | Dematerialized only |
| Allotment and allotment ratio | First come, first serve basis only Institutional 20%, Non-Institutional 10%, HNI 35%, Retail 35% |
About the Company
(Company stats, Standings, etc.)
IIFL Home Finance Limited, a company incorporated under the Companies Act, 1956 (CIN: U65993MH2006PLC166475) and registered as a Housing Finance Company with the National Housing Bank vide Certificate of Registration (COR) No. 09.0175.18 dated September 25, 2018
The Company is a subsidiary of IIFL Finance Limited which is an NBFC registered with the Reserve Bank of India (RBI)
Widespread Network:125+ Branches Across India, 2000+ Employees
Products: Affordable Home Loan. Non-Metro Housing Loan, Home Purchase, Home Renovation, Home Construction, and Plot Purchase
Subsidiaries
- IIFL Home Finance Limited Provides affordable home loans, small ticket-sized home loans, secured MSME Loans, and project loans.
- Samasta Microfinance Limited Provides microfinance services to women enrolled as members and organized as a Joint Liability Company (‘JLG’).
The company has a nationwide presence with a thriving network of 2,563 branches across 500+ cities.
Financial Performance
Key Strengths
- Diversified Resource MixIIFL Finance has a diversified resource profile and has demonstrated its ability to raise funds through various sources. One of the key sources to raise funds is assignment and securitization constituting around 40% of the funding requirement.
- Experienced Management and strong ownershipIIFL Finance Group is led by a qualified and experienced management team who possess strong experience in the financial services domain. The board of Directors is Mr. Nirmal Jain (the founder of IIFL Group and chairman of IIFL Finance Limited), Mr. R. Venkataraman (co-promoter and managing director of IIFL Finance Limited), and other independent directors. The parent company, IIFL Finance, is a listed company with strong shareholder background.
Credit Risks
- Impact on asset quality due to Covid-19Asset Credit Quality has been under pressure due to the global pandemic in FY20 and FY21. There has been an increase in gross NPA from 1.96% on March 19 to 2.31% on March 20. The loan moratorium had also temporarily bought about a dip in collections.
- Limited loan seasoningIIFLs AUM has shown a steady growth from Rs 22281 cr on March 17 to Rs 42264 cr on Dec 20. However, the product mix is highly skewed towards Home Loan and Loan Against Property (LAP), exhibiting limited seasoning, which constitutes around 45% of the total AUM.
Why choose Bonds India?
Bonds India 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, and expert advice, and keeping a close watch on the market sentiment. Bonds India brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive prices before anyone else.
Bonds India ditches the traditional ways of investing by offering a blockchain-based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose Bonds India for its sleek interface, fail-safe communication, and a step-by-step guide to ensure a well-placed bid. You can apply for IIFL Home Loans NCD IPO on the BondsIndia website.
Place your bid in three simple steps
| Key in Basic Details> | Choose the IPO Series> | Place the bid |
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How to invest in IIFL Home Loan NCD IPO December 2021?
The application process on the Bonds India 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 is complete!