India Infoline Finance Limited’s (IIFL) Rs. 100 crore Non-Convertible Debenture (NCD) issue opens for subscription on March 12 and closes on March 24.
Who can apply: Resident individuals, HUFs, partnership firms, companies and body corporates, banks, public financial institutions, national investment funds, mutual funds, venture capital, insurance companies, commercial banks, co-operative banks, public/private charitable trusts, industrial research organizations and other eligible category can apply.
Application size: The minimum application size is Rs. 10,000 for 10 NCDs as the face value per debenture is Rs. 1000. The company plans to raise Rs. 100 crore with an option to retain an additional Rs. 100 crore if the issue oversubscribes.
Credit Ratings: CRISIL and ICRA have assigned a rating of AA- (Double A minus). Such instruments carry low credit risk.
Tentative brokerage structure: The brokerage ranges between 1% and 1.5% per application offered upfront.
Effective yield and Maturity :
Who can sell the product: Registered stock brokers with any stock exchange along with their respective sub-brokers, banks and intermediaries selected by the issuing company.
How can an IFA get registered to sell the product: An IFA has to sign the sub-broker agreement with a stock broker to be eligible to sell the bonds.
Trustee: IDBI Trusteeship Services.
Registrars: Link Intime India Private Ltd.
Depositories: NSCL and CDSL.
Listing: The issue will be listed on both BSE and NSE. The applicants can also apply in physical mode. However, for NRIs, the issue is only available in dematerialized form.
Withdrawal of applications: In the event of withdrawal or rejection of application form or for unsuccessful application forms, the application amount will be credited to the relevant account within 12 working days. There will be no interest paid on any such refunds.
Lead Managers: Axis Capital Limited, IIFL, Trust Investment Advisors Private Limited, RR Investors Capital (co-lead manager) and Karvy Investment Banking (co-lead manager).