IIFL Home Finance Limited to raise up to ₹ 100 crore with an option to retain over subscription of up to ₹ 400 crore

Bhubaneswar: IIFL Home Finance Ltd (“IIFL HFL”) has announced its public issue of secured, rated, listed redeemable non-convertible debentures of the face value of ₹1,000 each (“NCDs”) with a base Issue size of ₹100 crores with an option to retain any oversubscription up to ₹400 crores, aggregating up to ₹500 crores, which is within the shelf limit of ₹ 3000 crore (“Tranche I Issue”). The Tranche I Issue opens on Friday, December 6, 2024 and closes onThursday, December 19, 2024 with an option of early closure in compliance with SEBI NCS Regulations.

The NCDs are proposed to be listed on BSE and NSE (“NSE” together with BSE, the “Stock Exchanges”) NSE shall be the Designated Stock Exchange for the Tranche I Issue. The NCDs have been ratedas “CRISIL AA/Stable” by CRISIL Ratings Limited and “IND AA/Stable” by India Ratings and Research Private Limited.

The Tranche I Issue offers various series of NCDs for subscription with coupon rates ranging from 8.85% per annum to 9.25% per annum.The NCDs under the Tranche I Issue are being offered with maturity/ tenor options of 24 months, 36 months, 60 months and 84 Months with monthly and annualcoupon payments options across series I, II, III, IV, V,VI, VII, VIII and IX.Effective yield (per annum) for the NCD holders in all categories of Investors ranges from 8.85% per annum to 9.27% per annum.

Net proceeds of the Tranche I Issue, after meeting the expenditures of and related to the Tranche I Issue, at least 75% shall be utilised for the purpose of onward lending, financing / refinancing the existing indebtedness of the Company, and/or debt servicing payment of interest and/or repayment / prepayment of interest and principal of existing borrowings of the Company and maximum up to 25% for general corporate purposes. 

Trust Investment Advisors Private Limited and IIFL Capital Services Limited (Formerly Known as IIFL Securities Limited)* are the Lead Managers to the Issue. Catalyst Trusteeship Limited is the Debenture Trustee to the Issue and LINK Intime India Private Limited is the Registrar to the Tranche I Issue. The Tranche I Prospectus dated November 27, 2024 shall be read in conjunction with thestatutoryadvertisement cum corrigendumnotice to the Tranche I Prospectus dated December 4, 2024 (together, referred to as the “Tranche I Prospectus”)