Mumbai, 21 June, 2021: Retail focused and technology driven Housing Finance
Company, IIFL Home Finance Ltd (“IIFLHFL”) has filed with a draft shelf
prospectus with BSE Limited and National Stock Exchange of India Limited
(“Stock Exchanges”) for a public issue of secured redeemable non-convertible
debenture s (“Secured NCDs”) and / or Unsecured Subordinated Redeemable non-convertible debentures (“Unsecured NCDs”)
(Secured NCDs and Unsecured NCDs are collectively referred to as “NCDs”) for an
amount aggregating upto Rs.50,000 Millions (“Shelf Limit”) (“Issue). The face
value of each secured and unsecured NCD will be Rs 1000 each and will be issued
in one or more tranches.
Objects of the NCD issue is for the purpose of onward lending, financing
and for repayment/prepayment of interest and principal of existing borrowings
of the company besides general corporate purposes. As on March 31, 2021 the
companies CRAR - Tier 1 Capital, in accordance with the Reformatted Financial
Statements was 19.61%.
Credit rating for the proposed NCDs is CRISIL AA/Stable by Crisil
Ratings Ltd. and BWR AA+/Negative (Assigned) by Brickwork Ratings India Pvt
Ltd. IIFLHFL’s main focus has been to provide loans to the first time home
buyers in the economically weaker section and lower income segments in the suburbs
of tier 1, tier 2 and tier 3 cities. Salaried and Self Employed customers
account for 44.37% and 55.63% of its Rs. 206,936.87 million AUM as of March 31,
2021, which has grown at a CAGR of 20.64% over the last 5 Fiscal Years. It’s
home loan avg ticket size is approx. Rs. 17.3 lakh.
In addition to having access to IIFL Groups 2300+ touch points, the
company currently operates out of 125 branches across 16 states and 1 union
territory across India.
85.16% of its housing loans have been sourced digitally
in the last financial year 2021. The investment in
technology has not only helped the company in improving customer experience,
but also in reducing operating cost and development of new business
opportunities.
Under the PMAY-CLSS scheme, IIFL Home Finance has helped empower over
43,000 customers with more than Rs.10 bn in subsidies as of March 31, 2021.
Lead Managers appointed to the issue are Edelweiss Financial Services
Ltd, IIFL Securities Ltd*, ICICI Securities Ltd, Trust Investment Advisors Pvt
Ltd and Equirus Capital Pvt Ltd
*IIFL Securities Limited is deemed to be our
associate as per the Securities and Exchange Board of India (Merchant Bankers)
Regulations, 1992, as amended (Merchant Bankers Regulations). Further, in
compliance with the provisions of Regulation 21A and explanation to Regulation
21A of the Merchant Bankers Regulations, IIFL Securities Limited would be
involved only in marketing of the Issue.
Capitalised terms not defined herein shall
have the same meaning as assigned to such terms in the Draft Shelf Prospectus
dated June 17, 2021.
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