Indiabulls Housing Finance Limited’s NCD Tranche III Issue Opens Today, October 07, 2022

Coupon Rate Upto 9.55% p.a.*

*Available only in Series VII for Category III and IV investors

• Public issue of secured redeemable non-convertible debentures (“NCDs”) of face value and issue price of Rs. 1,000 each
• The Tranche III Issue includes a base issue size of Rs. 100 crores with an option to retain oversubscription up to Rs. 700 crores aggregating up to Rs. 800 crores
• NCDs proposed to be issued pursuant to the Tranche III Issue are rated as “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited
• The Tranche III Issue opens on Friday, October 07, 2022 and closes on Friday, October 28, 2022 **
• The NCDs are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. BSE is the designated stock exchange for the Tranche III Issue.

** The Tranche III Issue shall remain open for subscription on Working Days from 10 a.m. to 5 p.m. during the period indicated in the Tranche III Prospectus dated September 30, 2022, except that the Tranche III Issue may close on such earlier date or extended date as may be decided by the Board of Directors of the Company or Securities Issuance Committee thereof. In the event of an early closure or extension of the Tranche III Issue, the Company shall ensure that notice of the same is provided to the prospective investors through an advertisement on or before such earlier or extended date of the Tranche III Issue closure in all the newspapers in which the advertisement for opening of the Tranche III Issue has been given.

Chennai, October 07, 2022: Registered office in New Delhi, Indiabulls Housing Finance Limited (“Company” or “Issuer”), a non-deposit taking housing finance company registered with the National Housing Bank, has announced the public issue of secured, redeemable, non-convertible debentures of the face value of Rs. 1,000 each (“NCDs”). The Tranche III Issue opens on Friday, October 07, 2022 and closes on Friday, October 28, 2022.

The Tranche III Issue has a base issue size of Rs. 100 crores with an option to retain oversubscription up to Rs. 700 crores, aggregating up to Rs. 800 crores (“Tranche III Issue”). The Tranche III Issue offers various series of NCDs for subscription with coupon rates ranging from 8.33% to 9.55% per annum, applicable as per respective series for selected category of NCD holders. The NCDs are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” together with BSE, the “Stock Exchanges”) with BSE as the Designated Stock Exchange for the Tranche III Issue. The NCDs have been rated “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited.

The NCDs under the Tranche III Issue have tenures of 24 months (Series I, II, III), 36 months (Series IV, V, VI) and 60 months (Series VII, VIII). Effective yield (per annum) for the NCD holders in Category I (Institutional Investors) & Category II (Non-Institutional Investors) ranges from 8.64% to 9.05% and for Category III (High Net-worth Individual Investors) and Category IV (Retail Individual Investors) holders ranges from 9.04% to 9.54%. Interest payment modes for the NCDs are Annually, Monthly or Cumulative as per the series selected by the investors. Amount on maturity for the NCD holders in Category I (Institutional Investors) & Category II (Non-Institutional Investors) ranges from Rs. 1,000 to Rs. 1,288.21 per NCD and for Category III (High Net-worth Individual Investors) and Category IV (Retail Individual Investors) ranges from Rs. 1,000 to Rs. 1,306.07 per NCD.

The above para details are applicable for selected category of investors for selected series.

The Company is also offering an additional incentive of 0.25% to the Category III and Category IV Investors in the proposed Tranche III Issue who are also holders of  NCD(s)/bond(s) previously issued by the Company, and/or its Subsidiaries 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, provided the NCDs issued under the proposed Tranche III 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 Series VIII.

The Lead Managers to the Tranche III Issue are Edelweiss Financial Services Limited, A. K. Capital Services Limited, IIFL Securities Limited and Trust Investment Advisors Private Limited. IDBI Trusteeship Services Limited is the Debenture Trustee to the Tranche III Issue and KFin Technologies Limited is the registrar to the Tranche III Issue.

Net proceeds of the Tranche III Issue, after meeting the expenditures of and related to the Tranche III Issue, at least 75% shall be utilised for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company and up to 25% for general corporate purposes.

As at June 30, 2022, consolidated cash and cash equivalents of the Company were Rs. 4,614.55 crores and Borrowings (other than Debt Securities) of Rs. 31,955.59 crores on balance sheet.

The terms of each series of NCDs offered under the Tranche III Issue are set out below:

Series	I	II	III	IV*	V	VI	VII	VIII
Frequency of Interest Payment	Annual	Cumulative	Monthly	Annual	Cumulative	Monthly	Annual	Monthly
Minimum Application	₹ 10,000 (10 NCDs) across all Series
Face Value/ Issue Price of NCDs (₹/ NCD)	₹ 1,000
In Multiples of thereafter (₹)	₹ 1,000 (1 NCD)
Type of Instrument	Secured NCDs
Tenor	24 Months	24 Months	24 Months	36 Months	36 Months	36 Months	60 Months	60 Months
Coupon (% per annum) for NCD Holders in Category I & II	8.65%	NA	8.33%	8.80%	NA	8.47%	9.05%	8.70%
Coupon (% per annum) for NCD Holders in Category III & IV	9.05%	NA	8.70%	9.30%	NA	8.94%	9.55%	9.15%
Effective Yield (per annum) for NCD Holders in Category I & II	8.64%	8.65%	8.65%	8.79%	8.80%	8.79%	9.04%	9.05%
Effective Yield (per annum) for NCD Holders in Category III & IV	9.04%	9.05%	9.04%	9.29%	9.30%	9.31%	9.54%	9.54%
Mode of Interest Payment	Through various modes available
Amount (₹ / NCD) on Maturity for NCD Holders in Category I & II	₹ 1,000	₹ 1,180.75	₹ 1,000	₹ 1,000	₹ 1,288.21	₹ 1,000	₹ 1,000	₹ 1,000
Amount (₹ / NCD) on Maturity for NCD Holders in Category III & IV	₹ 1,000	₹ 1,189.47	₹ 1,000	₹ 1,000	₹ 1,306.07	₹ 1,000	₹ 1,000	₹ 1,000
Maturity / Redemption Date (Months from the Deemed Date of Allotment)	24 Months	24 Months	24 Months	36 Months	36 Months	36 Months	60 Months	60 Months
Put and Call Option	Not Applicable

*The Company shall allocate and allot Series IV NCDs wherein the applicants have not indicated the choice of the relevant NCD Series.