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India Infoline Finance Limited – NCD Issue September 2012



//for details of IIFL SEPT 2013 ISSUE CLICK HERE

India Infoline Finance Limited – Issue Of Non -Convertible Debentures of size 250 Crore with an option to retain over subscription of Rs.250 Crore ,total aggregating Rs.500 Crore.

The NCDs are of unsecured in nature of subordinated debt and will be treated as Tier-II capital.

India Infoline Finance Company Limited – Part Of IIFL group which offers basket of products like loan against gold,properties,securities and other financing activities to retail and HNI clients.

Important Terms of NCD:

  • NCD start Date – Sept 05, 2012.
  • NCD Closing Date – Sept 18, 2012.
  • NCDs are proposed to be listed at NSE and BSE.
  • Issuance – Both in Physical / Demat mode.
  • Face Value – Rs.1000/-.
  • Min application amount – Rs.5000/- or 5 NCDs.
  • Credit rating – AA- from CRISIL & ICRA.Both indicates Stable rating.
  • Tenure – 72 Months.
Interest Rates:
Options I II III
Interest Payment Frequency Monthly Payout Annual Payout Cumulative
Interest  rate % 12.75 12.75 12.75

% Allotment for Resident individuals-

50% of the total issue size.Further divided as 25% for investment upto 5 lakh and 25% for individuals with investment of more than 5 lakh.

As already mentioned,company will treat NCDs as subordinated debt i.e.debt of lower importance and ranked down.Risk and rewards always put their hands together and interest rates are higher with risk of subordinated debt.Monthly interest option looks attractive for me.Finally, investor needs to judge risk capacity and take appropriate decision.

Subscription Updates of India Infoline Issue

India Infoline Issue sept 2012 is oversubscribed.Till this update,applications for Rs 616 crore were received against issue size of Rs.500 crore and last date of issue is updated as 07th Sept. 2012.

Category: Fixed Income


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