| The NCDs proposed to be issued will be secured by a first ranking pari passu charge by way of hypothecation in favor of the Debenture Trustee, on the financial and non-financial assets (including investments) of the Company, both present and future; and on present and future loan assets of the Company, including all monies receivable for the principal amount and interest thereon, on a first ranking pari passu basis with all other secured lenders to the Issuer holding pari-passu charge over the security, as specifically set out in and fully described in the Debenture Trust Deed. The NCDs will have a minimum security cover of 1.25 times on the principal amount and interest thereon at all times during the tenor of the NCDs. The Issuer reserves the right to sell or otherwise deal with the receivables, both present and future, including without limitation to create a charge on pari passu or exclusive basis thereon for its present and future financial requirements, provided that a minimum-security cover of 1.25 times on the principal amount and accrued interest thereon, is maintained, on such terms and conditions as the Issuer may think appropriate, without the consent of, or intimation to, the NCD Holders or the Debenture Trustee in this connection. However, if consent and/or intimation is required under applicable law, then the Company shall obtain such consents and/ or intimation in accordance with such law. We have received necessary consents from the relevant lender, debenture trustees and security trustees for ceding pari passu charge in favour of the Debenture Trustee in relation to the NCDs. The NCDs shall be considered as secured only if the charged asset is registered with sub-registrar and RoC or CERSAI or Depository etc., as applicable, or is independently verifiable by the debenture trustee. Without prejudice to the aforesaid, in the event our Company fails to execute the Debenture Trust Deed within the period specified in Regulation 18(1) of the SEBI NCS Regulations or such other time frame as may be stipulated from time-to-time, our Company shall also pay interest of at least 2% (two per cent) per annum to the NCD holders, over and above the interest rate on the NCDs specified in this Tranche II Prospectus, till the execution of the Debenture Trust Deed. |
| Issue Details |
| Issue Open |
03-Apr-2023-19-Apr-2023 |
| Security Name |
INDIABULLS COMMERCIAL CREDIT LIMITED |
| Security Type |
Secured Redeemable Non-Convertible Debentures |
| Issue Size (Base)( .Cr) |
100 |
| Over subscription |
An Option To Retain Oversubscription Up To Rs. 100 Crores Aggregating To Rs. 200 Crores. |
| Issue Price ( ) |
1000 |
| Face Value ( ) |
1000 |
| Market Lot |
1 |
| Credit Rating |
"CRISIL AA/Stable" by CRISIL and "[ICRA]AA (Stable)" by ICRA. |
| Tenor |
24 months,36 months,60 months |
| Series |
Series1,Series2,Series3,Series4,Series5,Series6,Series7,Series8 |
| Payment Frequency |
Yearly,Monthly,At the End |
| Objects of the Issue: |
| PUBLIC ISSUE BY INDIABULLS COMMERCIAL CREDIT LIMITED, ("COMPANY" OR "ISSUER") OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF Rs.1,000 EACH ("NCDs"), FOR AN AMOUNT UP TO Rs. 100 CRORES ("BASE ISSUE SIZE") WITH AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO Rs. 100 CRORES, AGGREGATING UP TO Rs. 200 CRORES ("TRANCHE II ISSUE LIMIT") ("TRANCHE II ISSUE") WHICH IS WITHIN THE SHELF LIMIT OF Rs. 1000 CRORES. |
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| Company Promoters |
| Indiabulls Housing Finance Limited |
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| Lead Managers |
| 1. Edelweiss Financial Services Limited |
| 2. ELARA CAPITAL (INDIA) PRIVATE LIMITED |
| 3. Trust Investment Advisors Private Limited |
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| Registrar to the Issue |
| 1. KFIN Technologies Ltd |
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