Personal Finance Blog India –

NCD Issue: India Infoline Ltd (IIFL)

After a notable success of Shriram Transport Finance Issue,new NCD issue is going to hit bond market.India Infoline Investment Services Ltd has come up with a secured,convertible NCD issue.It is Non Banking Finance company and subsidiary of India Infoline Ltd.

Holding of NCDs is possible only in demat mode.

Issue will aggregate Rs. 375 Crore,with an option to retain oversubscription of Rs. 375 Crore i.e. overall aggregating Rs. 750 Crore.

Some of the key features of this issue are as follows:

  1. Issue Start Date: 4th August 2011.
  2. Issue End Date: 12th August 2011.
  3. Face Value: Rs.1000/-
  4. Rating: AA- from CARE  and ICRA. Both indicates Stable rating and low credit risks to above instrument.  ”  –    (Read as Minus) ” indicates comparative standing of company in cateogary.
  5. Listing: NCD will be listed both on NSE and BSE.
  6. Liquidity: Liquidity is possible through stock market as well from annual interest payment option.
  7. Minimum Investment : 5 NCDs.
  8. Interest rates:
Option-1 Option-2 Option-3 Remarks
Period 36 Months 40 Months 60 Months  –
Interest option Annual Cumulative Annual  –
Interest Rate 11.70% 11.70% 11.90% Interest will be paid in bank account linked with demat account

8. Lead managers to issue are Axis bank Limited,J.M financial Consultants Pvt Ltd and A.K capital Services.

9. Registrar: Link Intime India Pvt Ltd.

10 Tax Benefits: Interest received / accured is taxable and will be added as income of investor.There will be no tax deducted at source.This is NOT 80-CCF issue of infrastructure bonds and this tax benefit is not applicable for this issue.

Category: Fixed Income


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