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Chennai, : Indiabulls Housing Finance Limited (“Company” or “Issuer”), a non-deposit taking housing finance company registered with the National Housing Bank, has announced the public issue of secured, redeemable, non-convertible debentures of the face value of ? 1,000 each (“NCDs”). The Tranche IV Issue opens on Thursday, December 01, 2022 and closes on Thursday, December 22, 2022.

Issue opens on Thursday, December 01, 2022 and closes on Thursday, December 22, 2022. The Tranche IV Issue has a base issue size of ? 100 crores with an option to retain oversubscription up to ?900 crores, aggregating up to ?1,000 crores (“Tranche IV Issue”). The Tranche IV Issue offers various series of NCDs for subscription with coupon rates ranging from 8.57% to 9.80% per annum. The NCDs are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India (“NSE” together with BSE, the “Stock Exchanges”) with BSE as the Designated Stock Exchange for the Tranche IV Issue. The NCDs have been rated “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited.

The NCDs under the Tranche IV Issue have tenures of 24 months (Series I, II, III), 36 months (Series IV, V, VI), and 60 months (Series VII, VIII). Effective yield (per annum) for the NCD holders in Category I (Institutional Investors) & Category II (Non-Institutional Investors) ranges from 8.89% to 9.30% and for Category III (High Net-worth Individual Investors) and Category IV (Retail Individual Investors) holders ranges from 9.29% to 9.80%. Interest payment modes for the NCDs are annually, monthly or cumulative as per the series selected by the investors. Amount on maturity for the NCD holders in Category I (Institutional Investors) & Category II (Non-Institutional Investors) ranges from ? 1,000 to ? 1,297.15 per NCD and for Category III (High Net-worth Individual Investors) and Category IV (Retail Individual Investors) ranges from ? 1,000 to ? 1,315.10 per NCD. The Tranche IV Issue option for has staggered redemption by face value through annual payments under 36 months (Series IV and Series V) and 60 months (Series VII and Series VIII).

The Company is also offering an additional incentive of 0.25% to the Category III and Category IV Investors in the proposed Tranche IV Issue who are also holders of NCD(s)/bond(s) previously issued by Company, and/or its Subsidiaries as the case may be, and/or are equity shareholder(s) of Indiabulls Housing Finance Limited as the case may be (“Primary Holder(s)”) on the Deemed Date of Allotment

The Lead Managers to the Tranche IV Issue areEdelweiss Financial Services Limited, A. K. Capital Services Limited, IIFL Securities Limited and Trust Investment Advisors Private Limited. IDBI Trusteeship Services Limited is the Debenture Trustee to the Tranche IV Issue and KFin Technologies Limited is the registrar to the issue.

Net proceeds of the Tranche IV Issue, after meeting the expenditures of and related to the Tranche IV Issue, at least 75% shall be utilised for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company and up to 25% for general corporate purposes.

 https://www.sebi.gov.in/filings/debt-offer-document/nov-2022/indiabulls-housing-finance-limited-tranche-iv-prospectus_65545.html

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