Sunday, July 24, 2011

India Infoline Investment Services Limited proposes to make a Public Offer of Secured Redeemable Non-Convertible Debentures (NCDs)



India Infoline Investment Services Limited (IIISL or “the Company”), an NBFC subsidiary of India Infoline Limited (IIFL), proposes to make a public offer of Secured Redeemable Non-Convertible Debentures (NCDs) and has filed a draft prospectus with the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE). Under this proposed offer, the company is proposing public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face-value of Rs. 1,000 each aggregating to Rs.3,750 million, with an option to retain over-subscription up to Rs.3,750 million, aggregating upto a total of Rs.7,500 million (the “Issue”), subject to requisite approvals. The NCDs are proposed to be listed on the NSE and BSE.

The funds raised through this Issue will be used by the Company for various financing activities.

The NCDs proposed under this Issue have been rated ‘*ICRA+AA- (stable)’ by ICRA, and ‘CARE AA-' by CARE. The above ratings indicate high degree of safety regarding timely servicing of financial obligations and these instruments carry very low credit risk.

The Lead Managers to the Issue are Axis Bank Limited, JM Financial Consultants Private Limited and A.K. Capital Services Limited. The Draft Prospectus is available on the website of the Company at www.iiflinvestments.com; and Exchanges at www.nseindia.com;www.bseindia.com and on the websites of Lead Managers at www.axisbank.com, www.jmfinancial.in, and www.akcapindia.com.

About IIISL
IIISL, a subsidiary of India Infoline Limited (IIFL) is registered with Reserve Bank of India as a non-banking finance company. IIISL offers a broad suite of lending and other financial products to both retail and corporate clients. The Company’s products include Mortgage loans (both retail and corporate mortgage), Capital Market financing (including Loans against Securities, Promoter Funding, Margin Funding, IPO financing and other structured lending transactions), Gold loans and Healthcare financing.

The loan book has witnessed a CAGR of 51.99% over the last three years and stands at Rs 32.89 bn as on March 31, 2011. Mortgage Loans accounted for 60% of the Loan Book, Capital Market Finance accounted for 35% of the Loan Book and Gold Loans accounted for 4% of the Loan Book. Health Care
Finance is a recent product which has been introduced in FY 2011. Net NPAs as on March 31, 2011 was 0.36% of the total loan book.
As on March 31, 2011 the Company’s capital adequacy ratio stood at 29.95% much above the minimum capital adequacy requirement of 15% stipulated by RBI for FY11.

Over the past several years, the Company has expanded its presence and today has a network of over 500 branches and employee strength of over 2,000 employees.

IIISL’s promoter, IIFL is a reputed financial services organization having presence across India. The global footprint extends across geographies with offices in New York, London, Hong Kong, Singapore, Dubai, Mauritius and Colombo. It is listed on BSE and NSE. IIFL Group’s services and products include retail broking, institutional equities, commodities and currency broking, wealth advisory, credit & finance, insurance broking, asset management, financial products distribution & investment banking.

Disclaimer: “India Infoline Investment Services Limited ("IIISL") is subject to market conditions and other considerations, proposing a public issue of secured Redeemable Non-Convertible Debentures and has filed a Draft Prospectus with the National Stock Exchange of India Limited, the Bombay Stock Exchange Limited and Securities and Exchange Commission of India (for record purposes). The Draft Prospectus is available on our website at www.iiflinvestments.com, on the websites of the stock exchanges at www.nseindia.com and www.bseindia.com and the respective websites of the LMs at www.axisbank.com, www.jmfinancial.in and www.akcapindia.com. Investors proposing to participate in the Issue should invest only on the basis of information contained in the Draft Prospectus.”

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