IIFL Home Finance Unsecured Subordinated Redeemable Non-Convertible Debentures (Unsecured NCDs) Tranche I Issue Open

 ·         Unsecured NCDs of a Face Value (“Face Value”) of Rs. 1,000 each. Minimum Application Size: Rs 10,000 (10 Unsecured NCDs across all series)

·         The Tranche I Issue includes a Base Issue Size for an amount of Rs. 100 crores (“Base Issue Size”) with an option to retain oversubscription up to Rs. 900 crore aggregating up to Rs. 1,000 crores (“Tranche I Issue”)

·         Total Shelf Size/Shelf Limit: Rs 5000 cr

·         Rated as CRISIL AA/Stable by Crisil Ratings Limited and BWR AA+/Negative (Assigned) by Brickwork Ratings India Private Limited

·         Effective annualized yield up to 10.03% p.a. on redemption#

·         The Tranche I Issue opens on July 6, 2021 and closes on July 28, 2021*

·         The NCDs are proposed to be listed on BSE and NSE (collectively, “Stock Exchanges”).

# For further details please refer Shelf Prospectus dated June 29, 2021 and Tranche Prospectus dated June 29, 2021

*The Tranche I issue may close on such earlier date or extended date as may be decided by the Board of Directors of our company or the Finance Committee, thereof, subject to relevant approvals. In the event of an early closure or extension of the Tranche I issue, our Company shall ensure that Notice of the same is provided to the prospective investor through an advertisement in a daily national newspaper with wide circulation on or before such earlier on initial date of Tranche I issue closure.

Retail focused and technology driven Housing Finance Company, IIFL Home Finance Ltd (“IIFL HFL”) has announced the opening of its public issue of Unsecured Subordinated Redeemable non-convertible debentures (“Unsecured NCDs”) of the face value of Rs. 1,000 each.

The Tranche I Issue includes a Base Issue Size for an amount of Rs. 100 crores (“Base Issue Size”) with a green shoe of up to Rs. 900 crore aggregating up to Rs. 1,000 crores (“Tranche I Issue”). The NCD issue offers various options for subscription with coupon rates ranging from 9.60% to 10.00% per annum. The Tranche I Issue opens on July 6, 2021 and closes on July 28, 2021, with an option of early closure or extension.

The Unsecured NCDs bear a fixed rate of interest under three different series and have been rated “CRISIL AA/Stable” and “BWR AA+/ Negative (Assigned)” indicates that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.

Net proceeds of the Issue will be utilized for for the purpose of onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings of our Company and balance will be utilised for General Corporate Purposes.

As on March 31, 2021 its CRAR – Tier I capital, in accordance with the Reformatted Financial Statements was at 19.61%.

The Lead Managers to the issue are Edelweiss Financial Services Limited, IIFL Securities Limited*, ICICI Securities Limited, Trust Investment Advisors Private Limited and Equirus Capital Private Limited.