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Personal Finance Blog India –

IIFL – Housing finance NCD Issue – March 2014

India Infoline Housing Finance Limited – part of IIFL group – engaged in housing finance and loans against property has come up with an NCD issue which is of sub-ordinate nature.

IIFL is looking to raise 200 crore through this NCD issue.

Important Dates:

  1. Issue Open date:March 12, 2014.
  2. Issue Close Date : March 24, 2014.
  3. Tentative Date of Allotment : AApril 04, 2014

NCD ISSUE PERIOD : 06 YEARS FROM DATE OF ALLOTMENT.

This issue offers following Two investment options :

Option I : Monthly Interest payment option : Under this option interest shall be paid out to investors with coupon rate of  12% on monthly basis.Interest payment date will be the allotment date from subsequent month.

Option II : This is cumulative mode and principle plus accumulated interest will be paid at maturity.Investors of this option will get amount doubled on maturity after period of 6 years.

Credit Rating : AA- .which indicates higher safety with lower rank in the category.

Profit Report:

Profit reported by company :

Financial Year Profit Before Tax Profit after Tax
2009-2010 2.83 crores 1.957 Crores
2010-2011 9.09 Crores 6.42 Crores
2011-2012 6.24 Crores 3.594 Crores
2012-2013 19.64 Crores 13.97 Crores
2013-2014- First two quarters 16.47 Crores 11.78 Crores

This issue of IIFL – housing Finance is of Sub-ordinated nature means investors won’t get any collateral security against this issue and would have secondary claims so investors having higher credit risk capacity can think to invest.

 


Category: Fixed Income

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