Money & Banking

IIFL Home Finance files draft shelf prospectus to raise ₹5,000 crore via NCDs

Our Bureau Mumbai | Updated on June 21, 2021

₹1,000 each will be the face value of each secured and unsecured NCDs.

IIFL Home Finance Ltd (IIFLHFL) has filed a draft shelf prospectus with the bourses to raise ₹5,000 crore through a public issue of non-convertible debentures (NCDs).

The face value of each secured and unsecured NCD will be ₹1,000 each and will be issued in one or more tranches. The company has filed the prospectus with both the BSE and NSE.

The retail-focused and technology-driven housing finance company will use the proceeds for onward lending, financing, repayment of existing borrowings and general corporate purposes.

Edelweiss Financial Services Ltd, ICICI Securities Ltd, Trust Investment Advisors Pvt Ltd and Equirus Capital Pvt Ltd are the lead managers to the issue.

The proposed NCDs are rated AA/Stable by Crisil Ratings Ltd and BWR AA+/Negative (Assigned) by Brickwork Ratings India Pvt Ltd.

IIFLHFL’s main focus is to provide loans to the first-time homebuyers in the economically weaker section and lower-income segments in the suburbs of Tier-I, Tier-II and Tier-III cities.

Salaried and self-employed customers account for 44.37 per cent and 55.63 per cent of its ₹20,693.69 crore assets under management as of March 31, 2021, which has grown at a CAGR of 20.64 per cent over the last five fiscals.

Published on June 21, 2021

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