On Tuesday, July 6, IIFL Home Finance announced its public issue of NCD with a face value of Rs.1,000 starting from today i.e. July 6 to July 28. The current issue size is Rs.100 crores as a base issue with an option to retain its oversubscription up to Rs.900 crores which is likely to aggregate up to Rs.1000 crores as tranche issue.
The Minimum Application should be 10 NCD wherein all other options of NCDs should be in multiple of 1 NCD thereafter.
The company has its retail focused on its housing finance company providing loans to first time home buyers with economically weaker sections and low income group segment in the suburban area of India is classified as 1,2 and 3 tier cities. It also serves salaried and self employed customer whose accounts are at 44.37% to 55.63% of its AUM as of March 31,2021.
The housing loan and secured business loans have an average of loan to loan value starting at 71.40% to 47.24% at the time of sanctioning loans. The company has a focused states like, Gujarat, Andhra Pradesh, Telangana, Madhya Pradesh, Karnataka, Rajasthan, Maharashtra and Punjab.
The competitive strength of the company is that it has a large presence in affordable housing segment with the fastest growing sub-segment of Indian mortgage market. It also stands at market with highest growth potential.
The company also strategies with tier 2 and tier 3 cities and also increases in penetration with existing market and also offers new products.
