Mar 3, 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.
- Issue Open date:March 12, 2014.
- Issue Close Date : March 24, 2014.
- 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 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.