Rs 200-cr NCDs launched by India Infoline Home Finance
The investors’ demand for non-convertible debentures (NCDs) remains high as s companies offer high coupon rates. In 2013-14, around Rs 33,842 crore have been raised by companies through NCDs and tax-free bonds, almost twice the amount of Rs 16,982 crore companies raised in 2012-13. In the current year, tax-free bonds have been high in demand too due to the interest rate being higher.
IIHFL is the housing finance subsidiary of India Infoline Limited (IIFL). At a time when inflation and interest rates remained higher, India Infoline’s Housing Finance Limited (IIHFL) is offering investors a coupon of 12.68% for its NCD issue, which is quite attractive. The NCD carries a rating of AA- from ICRA and Crisil. The company is looking to raise Rs 200 crore and its NCDs have tenure of six years. Under the monthly option, the investors can choose to get a yield of 12.68% per annum, while investors can also look to double their money in six years under the cumulative option.
Manappuram Finance earlier offered NCD to the market and offered a yield of 12.61%, looking to raise Rs. 200 crore.
Source: The Financial Express
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