India Infoline Housing Finance Limited – part of IIFL group – engaged in housing finance and loans against property has come up with an NCD issue which is of sub-ordinate nature.
IIFL is looking to raise 200 crore through this NCD issue.
Important Dates:
- Issue Open date:March 12, 2014.
- Issue Close Date : March 24, 2014.
- Tentative Date of Allotment : AApril 04, 2014
NCD ISSUE PERIOD : 06 YEARS FROM DATE OF ALLOTMENT.
This issue offers following Two investment options :
Option I : Monthly Interest payment option : Under this option interest shall be paid out to investors with coupon rate of 12% on monthly basis.Interest payment date will be the allotment date from subsequent month.
Option II : This is cumulative mode and principle plus accumulated interest will be paid at maturity.Investors of this option will get amount doubled on maturity after period of 6 years.
Credit Rating : AA- .which indicates higher safety with lower rank in the category.
Profit Report:
Profit reported by company :
| Financial Year | Profit Before Tax | Profit after Tax |
| 2009-2010 | 2.83 crores | 1.957 Crores |
| 2010-2011 | 9.09 Crores | 6.42 Crores |
| 2011-2012 | 6.24 Crores | 3.594 Crores |
| 2012-2013 | 19.64 Crores | 13.97 Crores |
| 2013-2014- First two quarters | 16.47 Crores | 11.78 Crores |
This issue of IIFL – housing Finance is of Sub-ordinated nature means investors won’t get any collateral security against this issue and would have secondary claims so investors having higher credit risk capacity can think to invest.
