IIFL home finance to raise Rs 1,000 cr via non-convertible debentures
Real Estate

IIFL home finance to raise Rs 1,000 cr via non-convertible debentures

Retail focussed housing finance company IIFL Home Finance Ltd plans to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs).

The tranche one issue involves a base issue of Rs 100 crore and a greenshoe option of Rs 900 crore aggregating up to Rs 1,000 crore.

The issue will open for subscription on 6 July, and close on 28 July, with an option of early closure or extension.

The NCD has a tenor of 87 months and offers various options for subscription with coupon costs varying from 9.60% to 10% per annum.

The fund will be used for onward lending, financing, and repayment or prepayment of interest and principal of existing borrowings, and the balance will be used for general corporate purposes of the company.

The company's Executive Director and CEO, Monu Ratra said that last year, our asset under management (AUM) increased by 12%. We are optimistic about growth in the following nine months and are looking at a 15% AUM growth in the current year.

As of 31 March, the housing finance company's capital to risky assets ratio (CRAR) - tier I capital was at 19.61%.

The unsecured NCDs have been rated Credit Rating Information Services of India Limited (CRISIL) AA/Stable and Brickwork Ratings (BWR) AA+/ Negative. The NCDs are proposed to be placed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Image Source


Also read: IIFL launches handbook for affordable green housing

Retail focussed housing finance company IIFL Home Finance Ltd plans to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs). The tranche one issue involves a base issue of Rs 100 crore and a greenshoe option of Rs 900 crore aggregating up to Rs 1,000 crore. The issue will open for subscription on 6 July, and close on 28 July, with an option of early closure or extension. The NCD has a tenor of 87 months and offers various options for subscription with coupon costs varying from 9.60% to 10% per annum. The fund will be used for onward lending, financing, and repayment or prepayment of interest and principal of existing borrowings, and the balance will be used for general corporate purposes of the company. The company's Executive Director and CEO, Monu Ratra said that last year, our asset under management (AUM) increased by 12%. We are optimistic about growth in the following nine months and are looking at a 15% AUM growth in the current year. As of 31 March, the housing finance company's capital to risky assets ratio (CRAR) - tier I capital was at 19.61%. The unsecured NCDs have been rated Credit Rating Information Services of India Limited (CRISIL) AA/Stable and Brickwork Ratings (BWR) AA+/ Negative. The NCDs are proposed to be placed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Image Source Also read: IIFL launches handbook for affordable green housing

Next Story
Infrastructure Urban

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group’s Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence’s long-term commitment to the Indian market and its support for the Indian Government’s Make in India initiative. The partnership’s current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the “Vulc..

Next Story
Infrastructure Urban

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company’s growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Next Story
Infrastructure Urban

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association’s industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States’ share of global activity below 15 per cent. Meanwhile, in..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?