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IIFL NCD Issue Open

Discussion in 'Mutual funds and Exchange Traded Funds' started by real_buzz, Sep 16, 2013.

  1. real_buzz Moderator

    IIFL NCD Issue Issue Highlights:
    Issue Opens Tuesday, September 17, 2013
    Issue Closes Friday, October 04, 2013
    Issue Price Rs. 1000/- per NCD
    Face Value Rs. 1000/- per NCD
    Minimum Application 5 NCDs (Rs. 5,000) across all series of NCDs
    Rating 'CARE AA' & '[ICRA] AA- Stable'
    Listing On NSE and BSE
    Registrar Link Intime India Private Limited
    Coupon Rate (Individual) (Category III) 12.00% per annum
    Allotment is on First Come First Serve Basis
    Specific terms for each series of NCDs
    Options I II III IV
    Tenure 36 Months 36 Months 60 Months 60 Months
    Frequency of Interest Payment Monthly Annually Monthly Annually
    Minimum Application 5,000 (5 NCDs) (for all options of NCDs, namely Options I, II, III and IV either taken individually or collectively)
    In Multiples of 1 NCD after the minimum subscription
    Face Value of NCDs ( / NCD) 1,000
    Issue Price ( / NCD) 1,000
    Mode of Interest Payment/ Redemption Through Various options available
    Coupon (%) p.a. for NCD Holders 12.00%(All)
    Effective Yield (per annum) 12.68% (Option-I.III) 12.00% (Option- I, IV)
    Redemption Date 36 months from the Deemed Date of Allotment, 60 months from the Deemed Date of Allotment
    Redemption Amount (/NCD)-Face Value of the NCDs plus any interest at the applicable Coupon that may have accrued at the Redemption Date
    Salient features of the issue
    Issuer- India Infoline Finance Limited
    Issue-Public Issue by our Company of Secured Redeemable NCDs aggregating up to 5,250 million with an option to retain over-subscription up to 5,250 million for issuance of additional Secured Redeemable NCDs aggregating to a total of up to 10,500 million.
    Stock Exchanges proposed for listing of the NCDs-NSE and BSE
    Issuance-In physical and dematerialised form for resident Investors and only in dematerialised form for non-resident Investors
    Trading-Compulsorily in dematerialized form
    Security-Security for the purpose of this Issue will be created in accordance with the terms of the Debenture Trust Deed.
    Rating-The NCDs proposed to be issued under this Issue have been rated 'CARE AA'[Double A] by CARE for an amount of up to 12,000 million vide its letter dated August 23, 2013 and 'BWR AA (Outlook:Stable) by Brickwork for an amount of up to 10,500 million vide Its letter dated August 27, 2013. The rating of NCDs by CARE indicates instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The rating of NCDs by Brickwork indicates instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The ratings provided by CARE and/or Brickwork, may be suspended, withdrawn or revised at any time by the assigning rating agency and should be evaluated independently of any other rating. These ratings are not a recommendation to buy, sell or hold securities and investors should take their own decisions.
    Issue Schedule* The Issue shall be open from September 17, 2013 to October 04, 2013.
    Pay-in date-3 (three) Business Days from the date of receipt of application or the date of realization of the cheques/demand drafts, whichever is later.
    Deemed Date of Allotment-The date on which the Board or a duly authorized committee approves the Allotment of NCDs. All benefits relating to the NCDs including interest on NCDs shall be available to Investors from the Deemed Date of Allotment. The actual allotment of NCDs may take place on a date other than the Deemed Date of Allotment.
    * The subscription list for the Issue shall remain open for subscription upto 5 pm, with an option for early closure or extension by such period, upto a period of 30 days from the date of opening of the Issue, as may be decided at the discretion of the duly authorised committee of Directors of our Company subject to necessary approvals. In the event of such early closure of the Issue or extension of the Issue, our Company shall ensure that notice of such early closure or extension of the Issue is given as the case may be on such date of closure through advertisement/s in a leading national daily newspaper.
    Cheque Details: "IIFL - NCD Escrow - R".
    Bankers: Axis Bank Limited, ICICI Bank Limited, HDFC Bank Limited, IndusInd Bank Limited and IDBI Bank
    Who Can Apply
    Foreign Institutional Investors and sub-accounts (other than a sub account which is a foreign corporate or foreign individual) registered with SEBI including Sovereign Wealth Funds, Pension and Gratuity Funds registered with SEBI as FIIs;
    Public Financial Institutions, Statutory Corporations, Commercial Banks,
    Co-operative Banks and Regional Rural Banks, which are authorised to invest in the NCDs;
    Provident Funds, Pension Funds, Superannuation Funds and Gratuity Fund, which are authorised to invest in the NCDs;
    Venture Capital funds and / or Alternative Investment Funds registered with SEBI;
    Insurance Companies registered with the IRDA;
    National Investment Fund;
    Mutual Funds;
    Companies; bodies corporate and societies registered under the applicable laws in India and authorised to invest in the NCDs;
    Public/private charitable/ religious trusts which are authorised to invest in the NCDs;
    QFIs not being an individual;
    Scientific and/or industrial research organisations, which are authorised to invest in the NCDs;
    Partnership firms in the name of the partners; and
    Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009);
    Resident Indian individuals;
    Non Resident Indians on repatriation as well as non-repatriation basis
    Hindu undivided families through the Karta; And
    QFI being an Individual;
    Reservation for Categories 40% of Overall Issue Size 10% of Overall Issue Size 50% of Overall Issue Size (Further divided into 10% for Unreserved Individuals Portion and 40% for Reserved Individuals Portion)

    Basis of allocation incase of over subscription On first-come-first-serve basis On first-come-first-serve basis On first-come-first-serve basis

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