India Infoline Finance Ltd (IIFL) has come out with a public issue of unsecured redeemable non-convertible debentures (NCDs) of face value of Rs 1,000 each aggregating up to Rs 500 crore. The company plans to raise Rs. 250 crore and has the option to retain additional subscription up to Rs. 250 crore, taking the aggregate to Rs. 500 crore. The company is in the business of lending to individuals and companies.
The issue shall open on 5 September, 2012 and shall close on 18 September, 2012. The issue offers high interest rate of 12.75% per annum. Minimum application amount is Rs 5000.
This NCD is in the nature of subordinated debt and will be eligible for Tier-II capital. The bonds on offer are redeemable after six years and come with three interest payout options - monthly, annual and cumulative.
The company has been expanding business and its profit after tax has grown at a compounded annual growth rate (CAGR) of 45%; the loan book grew at 64% CAGR since 2007-08 till FY12. But total long-term borrowings have grown at a CAGR of 108%.
IIFL NCDs will be listed on NSE and BSE and will have a tradeable lot size of one NCD.
The issue shall open on 5 September, 2012 and shall close on 18 September, 2012. The issue offers high interest rate of 12.75% per annum. Minimum application amount is Rs 5000.
This NCD is in the nature of subordinated debt and will be eligible for Tier-II capital. The bonds on offer are redeemable after six years and come with three interest payout options - monthly, annual and cumulative.
The company has been expanding business and its profit after tax has grown at a compounded annual growth rate (CAGR) of 45%; the loan book grew at 64% CAGR since 2007-08 till FY12. But total long-term borrowings have grown at a CAGR of 108%.
IIFL NCDs will be listed on NSE and BSE and will have a tradeable lot size of one NCD.
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