IIFL Home Finance Submits Draft Shelf Prospectus to Raise ₹ 5,000 crore via NCD

IIFL Home Finance Submits Draft Shelf Prospectus to Raise ₹ 5,000 crore via NCD

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

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

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.

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  • IIFL Home Finance Submits Draft Shelf Prospectus to Raise ₹ 5,000 crore via NCD
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