HSL Mobile App Indiabulls Consumer Finance Ltd NCD
The Company is a non‐deposit taking systemically important NBFC registered with the RBI and a 100% subsidiary of Indiabulls Ventures Limited, a listed Indian company. The Company is a part of the Indiabulls Ventures group, which is a prominent financial services company providing brokering, lending and wealth management businesses, amongst other businesses. Its Promoter, Indiabulls Ventures Limited, was incorporated in 1995; and its long standing presence in financial services has enabled them to establish “Indiabulls” as a recognized brand in the financial services sector. In order to ensure expansion of the Company’s lending operations, the Promoter has infused funds periodically in the form of equity in the Company. As of December 31, 2018, the Company had presence in more than 100 cities throughout India through which it market loan products, enabling them to operate on a pan‐India basis.
Issue Details
| Issuer | Indiabulls Consumer Finance Ltd |
| Type of instrument/ Nature/ Name of the security/ Seniority |
Secured, Redeemable, Non‐Convertible Debentures |
| Issue Size | Public issue by Indiabulls Consumer Finance Limited, (“Company” or “Issuer”) of secured redeemable non‐ convertible debentures of face value of Rs. 1,000 each (“NCDs”) for an amount of Rs. 1,000 million (“Base Issue”) with an option to retain oversubscription up to Rs. 9,000 million aggregating up to 10,000,000 NCDs amounting to Rs. 10,000 million (“Tranche III Issue Limit”) (“Tranche III Issue”) which is within the Shelf Limit of Rs. 30,000 million |
| Issue opening date | Wednesday, 31 July, 2019 |
| Issue closing date** | Friday, 30 August, 2019 |
| Face value | Rs 1,000 per NCD |
| Issue Price | Rs 1000 per NCD |
| Minimum Application size and in multiples of NCD thereafter |
Rs 10,000 (10 NCDs) collectively across all Series and in multiple of Rs 1,000 (1 NCD) thereafter across all Series |
| Listing | NCDs are proposed to be listed on BSE and NSE |
| Rating | CARE AA; Stable / BWR AA+ |
| Series | I | II | III | IV | V | VI | VII | VIII | IX |
| Frequency of Interest Payment | Cumulative | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual | Cumulative |
| Tenor | 400 days | 24 months | 24 months | 36 months | 36 months | 36 months | 60 months | 60 months | 60 months |
| Coupon (% per annum) for NCD Holders in Category I, II, III & Category IV | NA | 10.12 | NA | 9.81 | 10.27 | NA | 10.04 | 10.52 | NA |
| Effective Yield (% per annum) for NCD holders in Category I, II, III & IV | 10.00 | 10.10 | 10.10 | 10.25 | 10.26 | 10.25 | 10.50 | 10.51 | 10.50 |
| Amount (Rs / NCD) on Maturity for NCD Holders in Category I, II, III & IV | 1110.10 | 1000 | 1212.52 | 1000 | 1000 | 1340.46 | 1000 | 1000 | 1648.35 |
Company shall allocate and allot series V NCDs where in the applicants have not indicated their choice of the relevant NCD series.
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