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Indiabulls Commercial Credit Limited NCD
Issue Size (Net)
up to 200 Cr
Credit Ratings
CRISIL/AAA-Stable
Issue Opening Date
April 03, 2023
Issue Closing Date
April 19, 2023
Specific Terms for Each Series of NCDs
Series I II III IV V VI VII VIII
Frequency of Interest Payment Annual Monthly Cumulative Annual Monthly Cumulative Annual Monthly
Tenor 24 Months 24 Months 24 Months 36 Months 36 Months 36 Months 60 Months 60 Months
Coupon (% p.a.) Category III & IV 10.00% 9.57% NA 10.25% 9.80% NA 10.50% 10.03%
Effective Yield (% p.a.) Category III & IV 9.98% 9.99% 10.00% 10.23% 10.24% 10.25% 10.49% 10.50%
Amount (₹/NCD) Maturity for Category III & IV 1,000 1,000 1,210.35 Staggered Redemption in Three (3) annual payments of 333 for year 1, 333 for year 2 and 334 for year 3 starting from 1st Anniversary** until Maturity Staggered Redemption in Three (3) annual payments of 333 for year 1, 333 for year 2 and 334 for year 3 starting from 1st Anniversary** until Maturity 1,340.45 Five (5) annual payments of 200 each, starting from 1st Anniversary** until Maturity Five (5) annual payments of 200 each, starting from 1st Anniversary** until Maturity
Company shall allocate and allot Series IV NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.

Principal Redemption Schedule and Redemption Amounts

Set out below is the principal redemption schedule and the redemption amount for the Series IV NCDs, Series VI NCDs, Series VII NCDs, and Series VIII NCDs, in relation to which the principal outstanding will be redeemed in a staggered manner.

Series Series IV and Series VI Series VII and Series VIII
3 Years 5 Years
Redemption Schedule Principal Outstanding Redemption Schedule Principal Outstanding
Face Value Rs.1,000.00 Rs.1,000.00 Rs.1,000.00 Rs.1,000.00
1st Anniversary* Rs. 333.00 Rs. 667.00 Rs. 200.00 Rs. 800.00
2nd Anniversary* Rs.333.00 Rs.334.00 Rs.200.00 Rs.600.00
3rd Anniversary* Rs.334.00 NIL Rs.200.00 Rs.400.00
4th Anniversary* NA NA Rs.200.00 Rs.200.00
5th Anniversary* NA NA Rs.200.00 NIL
*from the Deemed Date of Allotment.
Category III and IV of Investors in this Tranche I Issue who are also holders of NCD(s)/bond(s) previously issued by our Company, and/or our holding as the case may be, and/or are equity shareholder(s) of Indiabulls Housing Finance Limited as the case may be (“Primary Holder(s)”) on the Deemed Date of Allotment and applying in Series I, Series III, Series IV, Series VI, Series VII and/or Series VIII shall be eligible for additional incentive of 0.25% p.a. provided the NCDs issued under this Tranche I Issue are held by the investors on the relevant Record Date applicable for payment of respective coupons, in respect of Series I, Series III, Series IV, Series VI, Series VII and/or Series VIII. Category III and IV of Investors in this Tranche I Issue who are also Primary Holder(s)on the Deemed Date of Allotment applying in Series II and/or V, the maturity amount at redemption along with the additional yield would be ₹1,211.50 per NCD and/or ₹1342.30 per NCD respectively provided the NCDs issued under this Tranche I Issue are held by the investors on the relevant Record Date applicable for redemption in respect of SeriesII and/or Series V. The additional incentive will be maximum of 0.25% p.a. for Category III and IV Investors in this Tranche I Issue, who are also Primary Holder(s)on the deemed date of allotment.
1.Company Information

Incorporated in 2006, Mumbai based Indiabulls Commercial Credit Limited (ICCL) is a non-deposit taking NBFC. rIt is a 100% subsidiary of Indiabulls Housing Finance Limited (IHFL), one of the largest housing finance companies in India.

The company's primary focus is on long-term secured mortgage-backed loans. It offers loans against the property to salaried and self-employed individuals, small and medium-sized enterprises. It also offers mortgage loans to real estate developers in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises.

ICCL has a pan-India presence across with offices in Tier I, Tier II and Tier III cities. The company has a sales team of over 3,500 employees.

As of March 31, 2018, mortgage loans constitutes 98.21% of the company's Asset Under Management (AUM).

It has a diversified lender base including PSUs, private banks, provident funds, pension funds, and mutual funds.

2. Ratings

This issue is rated CRISIL/AAA-Stable by CRISIL and CARE/AAA-Stable by CARE. The ratings of the NCDs indicate the highest degree of safety regarding timely servicing of financial obligations.

3. Indiabulls Commercial Credit NCD April 2023 Registrar

KFin Technologies Limited

 KFintech, Tower-B, Plot No 31 & 32

  Financial District, Nanakramguda, Gachibowli,

  Hyderabad, Telangana India - 500 032.

Phone: 04067162222, 04079611000

Email: iccl.ncdipo@kfintech.com

Website: https://karisma.kfintech.com/

Indiabulls Commercial Credit Limited Financial Information (Consolidated)

Amount in Rs. Crore
Period Ended
Total Assets
Total Revenue
Profit After Tax
Net Worth
31-Mar-20
16387.3
2191.28
19.81
4406.95
31-Mar-21
15873.26
1632.94
139.04
4553.2
31-Mar-22
13143.65
1841.88
508.22
5064.84
Issuer Indiabulls Commercial Credit Limited
Instrument Secured Redeemable Non-Convertible Debentures (NCDs)
Issue Opens on Monday, April 03, 2023
Issue Closes on Wednesday, April 19, 2023**
Issue Size Rs. 100 Crore with an option to retain oversubscription up to Rs. 100 Crore aggregating upto to Rs.200 Crore
Issue Price / Face Value Rs.1,000/- per NCD
Minimum Application Rs.10,000/- (10 NCD) and in multiples of Rs.1,000/- (1 NCD) thereafter.
Credit Rating “CRISIL AA/Stable” and “ICRA AA (Stable)”
Registrar KFIN Technologies Limited
Listing The NCDs are proposed to be listed on BSE and NSE
Category I - Institutional II - Non-Institutional III - HNI IV - Retail
Category Allocation 30% 10% 30% 30%
Put/Call Option N.A.
Category Allocation Compulsorily in dematerialized form.
Allotment First Come First Serve Basis
Depositories NSDL and CDSL
Specific Terms for Each Series of NCDs
Series I II III IV V VI VII VIII
Frequency of Interest Payment Annual Monthly Cumulative Annual Monthly Cumulative Annual Monthly
Tenor 24 Months 24 Months 24 Months 36 Months 36 Months 36 Months 60 Months 60 Months
Coupon (% p.a.)Category I & II 9.60% 9.20% NA 9.75% 9.35% NA 10.00% 9.57%
Coupon (% p.a.) Category III & IV 10.00% 9.57% NA 10.25% 9.80% NA 10.50% 10.03%
Effective Yield (% p.a.)Category I & II 9.59% 9.58% 9.60% 9.74% 9.75% 9.75% 9.99% 9.99%
Effective Yield (% p.a.)Category III & IV 9.98% 9.99% 10.00% 10.23% 10.24% 10.25% 10.49% 10.50%
Amount (₹/NCD) Maturity for Category I & II Rs. 1,000 Rs. 1,000 Staggered Redemption in Three (3) annual payments of ₹ 333 for year 1, ₹ 333 for year 2 and ₹ 334 for year 3 starting from 1st Anniversary* until Maturity Staggered Redemption in Three (3) annual payments of Rs. 333 for year 1, Rs.333 for year 2 and Rs. 334 for year 3 starting from 1st Anniversary** until Maturity Rs. 1,322.30 Staggered Redemption in Five (5) annual payments of Rs. 200 each, starting from 1st Anniversary** until Maturity Staggered Redemption in Five (5) annual payments of Rs. 200 each, starting from 1st Anniversary** until Maturity
Amount (₹/NCD) Maturity for Category III & IV Rs. 1,000 Rs. 1,000 Rs. 1,210.35 Staggered Redemption in Three (3) annual payments of Rs.333 for year 1, Rs. 333 for year 2 and Rs. 334 for year 3 starting from 1st Anniversary** until Maturity Staggered Redemption in Three (3) annual payments of Rs. 333 for year 1, Rs.333 for year 2 and ₹ 334 for year 3 starting from 1st Anniversary** until Maturity Rs. 1,340.45 Five (5) annual payments of ₹200 each, starting from 1st Anniversary** until Maturity Five (5) annual payments of ₹200 each, starting from 1st Anniversary** until Maturity
*Company shall allocate and allot Series IV NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.
Principal Redemption Schedule and Redemption Amounts

Set out below is the principal redemption schedule and the redemption amount for the Series IV NCDs, Series VI NCDs, Series VII NCDs, and Series VIII NCDs, in relation to which the principal outstanding will be redeemed in a staggered manner.

Series Series IV and Series VI Series VII and Series VIII
3 Years 5 Years
Redemption Schedule Principal Outstanding Redemption Schedule Principal Outstanding
Face Value Rs.1,000.00 Rs.1,000.00 Rs.1,000.00 Rs.1,000.00
1st Anniversary* Rs. 333.00 Rs. 667.00 Rs. 200.00 Rs. 800.00
2nd Anniversary* Rs.333.00 Rs.334.00 Rs.200.00 Rs.600.00
3rd Anniversary* Rs.334.00 NIL Rs.200.00 Rs.400.00
4th Anniversary* NA NA Rs.200.00 Rs.200.00
5th Anniversary* NA NA Rs.200.00 NIL

*from the Deemed Date of Allotment.

Category III and IV of Investors in this Tranche I Issue who are also holders of NCD(s)/bond(s) previously issued by our Company, and/or our holding as the case may be, and/or are equity shareholder(s) of Indiabulls Housing Finance Limited as the case may be (“Primary Holder(s)”) on the Deemed Date of Allotment and applying in Series I, Series III, Series IV, Series VI, Series VII and/or Series VIII shall be eligible for additional incentive of 0.25% p.a. provided the NCDs issued under this Tranche I Issue are held by the investors on the relevant Record Date applicable for payment of respective coupons, in respect of Series I, Series III, Series IV, Series VI, Series VII and/or Series VIII.

Category III and IV of Investors in this Tranche I Issue who are also Primary Holder(s)on the Deemed Date of Allotment applying in Series II and/or V, the maturity amount at redemption along with the additional yield would be ₹1,211.50 per NCD and/or ₹1342.30 per NCD respectively provided the NCDs issued under this Tranche I Issue are held by the investors on the relevant Record Date applicable for redemption in respect of SeriesII and/or Series V.

The additional incentive will be maximum of 0.25% p.a. for Category III and IV Investors in this Tranche I Issue, who are also Primary Holder(s)on the deemed date of allotment.

Prospectus File

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