Is it good to invest in IIFL NCD?

Is it good to invest in IIFL NCD?

These are secured NCDs and are rated ‘CRISIL AA/Stable’ ‘BWR AA+/Negative (Assigned)’. Instruments with this rating have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The face value of the issue is Rs 1,000.

What is Iifl NCD bond?

Non-banking finance company (NBFC), IIFL Home Finance Ltd, has launched a public issue of secured non-convertible debentures (NCD) worth ₹1,000 crore, offering coupon rates ranging from 8.20% to 8.75% per annum.

What is the tranche II base issue size?

What is the total issue size of the proposed NCD Issue Tranche 2? The NCD issue has a base issue size of Rs100cr but it comes with a green-shoe option to retain up to Rs900cr in the event of oversubscription. Hence, if the green-shoe option is fully utilized, then the total size of the issue could go up to Rs1,000cr.

Is Iifl NCD taxable?

Investors must also note that redeeming NCDs before maturity might be a challenge, as the Indian debt market is not that deep. They must also be mindful of taxation, as interest earned on these instruments is taxed at the income tax slab rate.

How safe are Iifl bonds?

Issue Details The issue has been rated by CRISIL as AA/Stable and by Brickworks as AA+/ negative outlook. AA rating denotes high probability of interest payments and repayment being made on time.

Is NCD safe?

Secured NCDs are considered safer of the two kinds as their issues are backed by the assets of the company. In the event of the company failing to pay on time, then the investors can recover their dues by liquidating the company’s assets.

How can I buy NCD in secondary market?

For applying in NCDs, one can submit the ASBA Forms (including ASBA Forms under UPI in case of UPI Investors) to a Registered Broker as well. One may also buy NCDs from the secondary market once they are listed on stock exchanges.

Are non convertible debentures secured?

NCDs is either secured or unsecured depending on the principal amount and interest rate issued by the company offering debentures. FDs can be withdrawn before maturity with a small penalty applicable on an early withdrawal. However, premature withdrawals do not apply to all types of FDs.

What is NCD in share?

Non-convertible debentures (NCD) are fixed-income instruments, usually issued by high-rated companies in the form of a public issue to accumulate long-term capital appreciation. They offer relatively higher interest rates when compared to convertible debentures.

What is the full form of Iifl?

IIFL Holdings Limited (formerly India Infoline Limited) d/b/a IIFL and India Infoline, is an Indian diversified financial services company headquartered in Mumbai.

What is secured NCD issue?

An NCD can be secured or unsecured. Secured NCDs are backed by the issuer company’s assets to fulfill the debt obligation unlike unsecured NCDs. The NCD issues are rated by credit rating agencies like CRISIL, ICRA, FITCH, and CARE to ensure the company’s ability to service the debt on time & lower default risk.

What happens to NCD after maturity?

They cannot be converted into equity or stocks. NCDs have a fixed maturity date and the interest can be paid along with the principal amount either monthly, quarterly, or annually depending on the fixed tenure specified.

Is IIFL Home Finance registered with NHB?

Its name was changed to ‘IIFL Home Finance Limited’ pursuant to fresh certificate of incorporation dated May 02, 2018, issued by the Registrar of Companies, Maharashtra, Mumbai. It is registered with the NHB as housing finance company vide registration no. 09.0175.18 dated September 14, 2018.

How do I contact IIFL Mumbai NCD?

10thFloor, IIFL Centre, Kamala Centre, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013 Maharashtra, India Tel: +91 22 4646 4600 Fax: +91 22 2493 1073 Email:[email protected]

Is IIFL a financial institution under SARFAESI?

The IIFL Home Finance Limited has been notified as a financial institution under SARFAESI Act vide Government notification dated June 23, 2010. For details of the business of our Company, see “Our Business” beginning on page 93 of the Shelf Prospectus.

Will the NCDS issued pursuant to the issue be listed?

There is no assurance that the NCDs issued pursuant to the Issue will be listed on Stock Exchanges in a timely manner, or at all. 89. There are other lenders and debenture trustees who have pari passu