the deccan herald, new delhi. the hindu business line ... · new delhi, mumbai, hyderabad, kolkata....
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The Deccan Herald, New Delhi.
The Hindu Business Line, Pune, Chennai, Ahmedabad, Bangalore,
New Delhi, Mumbai, Hyderabad, Kolkata.
Business Standard Date: 01/06/2015 Edition: Online Web By Line:PTI
IFCI to raise Rs 790 cr in second tranche of NCD issue
State-owned term lender IFCI is looking at raising over Rs 790 crore in the second round of non-convertible debentures which
opened on January 1.
The company had raised Rs 1,209.19 crore in October in the first round of the Rs 2,000 crore issue for the current financial
year 2014-15. The NCDs are being offered in tenors of 5 years and 10 years. The issue will close on February 4.
"IFCI is proposing a public issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each amounting
to Rs 250 crore (Base Issue Size) with an option to retain over-subscription aggregating up to the Residual Shelf Limit of Rs
790.81 crore," the company said.
The proceeds will be used for general corporate and lending purposes, it said.
"This is the best option available in the present interest rate scenario, looking at the rates offered by government securities
(at around over 8 per cent). Coupon rate of 9.5 per cent is very attractive," said Malay Mukherjee, Managing Director, IFCI
Ltd at a press conference here today.
NCDs with a tenure of 5 years, with annual coupon payout option, will carry coupon rate of 9.35 per cent per annum for all
categories of investors. It will carry additional incentive of 0.10 per cent for High Networth Individuals (HNIs) and Retail
Individual Investors (RII)
"...The aggregate of coupon rate and additional incentive for HNIs and RII is 9.45 per cent per annum," IFCI said.
For 10-year tenure, the bonds will carry coupon rate of 9.40 per cent per annum for all kind of investors. HNIs and RII will
have incentive of additional 0.10 per cent at 9.50 per cent.
Besides, the company will also offer NCDs with premium on redemption option for both the tenors.
"NCDs with a tenure of 5 years will be redeemed on the maturity at Rs 1,563.87 (for QIBs and corporates) and Rs 1,571.04
(for HNIs and RII).
"The NCDs with tenure of 10 years will be redeemed on maturity at Rs 2,457.50 (for QIB and corporates) and Rs 2,480.08 (for
HNIs and RII)," it added.
The IFCI Ltd scrip closed at Rs 38.05, down 0.13 per cent, on the BSE.
Financial Chronicle Date: 01/06/2015 Edition: Online Web By Line:PTI
IFCI to raise over Rs 790 cr in second tranche of NCD issue
State-owned term lender IFCI is looking at raising over Rs 790 crore in the second round of non-convertible debentures which
opened on January 1.
The company had raised Rs 1,209.19 crore in October in the first round of the Rs 2,000 crore issue for the current financial
year 2014-15. The NCDs are being offered in tenors of 5 years and 10 years. The issue will close on February 4.
"IFCI is proposing a public issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each amounting
to Rs 250 crore (Base Issue Size) with an option to retain over-subscription aggregating up to the Residual Shelf Limit of Rs
790.81 crore," the company said.
The proceeds will be used for general corporate and lending purposes, it said.
"This is the best option available in the present interest rate scenario, looking at the rates offered by government securities
(at around over 8 per cent). Coupon rate of 9.5 per cent is very attractive," said Malay Mukherjee, Managing Director, IFCI
Ltd at a press conference here today.
NCDs with a tenure of 5 years, with annual coupon payout option, will carry coupon rate of 9.35 per cent per annum for all
categories of investors. It will carry additional incentive of 0.10 per cent for High Networth Individuals (HNIs) and Retail
Individual Investors (RII)
"...The aggregate of coupon rate and additional incentive for HNIs and RII is 9.45 per cent per annum," IFCI said.
For 10-year tenure, the bonds will carry coupon rate of 9.40 per cent per annum for all kind of investors. HNIs and RII will
have incentive of additional 0.10 per cent at 9.50 per cent.
Besides, the company will also offer NCDs with premium on redemption option for both the tenors.
"NCDs with a tenure of 5 years will be redeemed on the maturity at Rs 1,563.87 (for QIBs and corporates) and Rs 1,571.04
(for HNIs and RII).
"The NCDs with tenure of 10 years will be redeemed on maturity at Rs 2,457.50 (for QIB and corporates) and Rs 2,480.08 (for
HNIs and RII)," it added.
The IFCI Ltd scrip closed at Rs 38.05, down 0.13 per cent, on the BSE.
First Post Date: 01/06/2015 Edition: Online Web By Line:PTI
IFCI raises Rs 790 cr in second tranche of NCD issue
State-owned term lender IFCI is looking at raising over Rs 790 crore in the second round of non-convertible debentures which
opened on 1 January.
The company had raised Rs 1,209.19 crore in October in the first round of the Rs 2,000 crore issue for the current financial
year 2014-15. The NCDs are being offered in tenors of 5 years and 10 years. The issue will close on 4 February.
"IFCI is proposing a public issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each amounting
to Rs 250 crore (Base Issue Size) with an option to retain over-subscription aggregating up to the Residual Shelf Limit of Rs
790.81 crore," the company said.
The proceeds will be used for general corporate and lending purposes, it said.
"This is the best option available in the present interest rate scenario, looking at the rates offered by government securities
(at around over 8 percent). Coupon rate of 9.5 percent is very attractive," said Malay Mukherjee, Managing Director, IFCI Ltd
at a press conference here today.
NCDs with a tenure of 5 years, with annual coupon payout option, will carry coupon rate of 9.35 per cent per annum for all
categories of investors. It will carry additional incentive of 0.10 percent for High Networth Individuals (HNIs) and Retail
Individual Investors (RII)
"...the aggregate of coupon rate and additional incentive for HNIs and RII is 9.45 percent per annum," IFCI said.
For 10-year tenure, the bonds will carry coupon rate of 9.40 percent per annum for all kind of investors. HNIs and RII will
have incentive of additional 0.10 per cent at 9.50 percent.
Besides, the company will also offer NCDs with premium on redemption option for both the tenors.
"NCDs with a tenure of 5 years will be redeemed on the maturity at Rs 1,563.87 (for QIBs and corporates) and Rs
1,571.04 (for HNIs and RII).
"The NCDs with tenure of 10 years will be redeemed on maturity at Rs 2,457.50 (for QIB and corporates) and Rs
2,480.08 (for HNIs and RII)," it added.
Good Returns Date: 01/06/2015 Edition: Online Web By Line:Bureau
IFCI to raise over Rs 790 cr in second tranche of NCD issue
IFCI is looking at raising over Rs 790 crore in the second round of non-convertible debentures which opened on January 1,
reported PTI.
The company had raised Rs 1,209.19 crore in October in the first round of the Rs 2,000 crore issue for the current financial
year 2014-15. The NCDs are being offered in tenors of 5 years and 10 years. The issue will close on February 4.
"IFCI is proposing a public issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each amounting
to Rs 250 crore (Base Issue Size) with an option to retain over-subscription aggregating up to the Residual Shelf Limit of Rs
790.81 crore," the company said.
The proceeds will be used for general corporate and lending purposes, it said.
"This is the best option available in the present interest rate scenario, looking at the rates offered by government securities
(at around over 8 per cent). Coupon rate of 9.5 per cent is very attractive," said Malay Mukherjee, Managing Director, IFCI
Ltd at a press conference.
NCDs with a tenure of 5 years, with annual coupon payout option, will carry coupon rate of 9.35 per cent per annum for all
categories of investors. It will carry additional incentive of 0.10 per cent for High Networth Individuals (HNIs) and Retail
Individual Investors (RII)
"...The aggregate of coupon rate and additional incentive for HNIs and RII is 9.45 per cent per annum," IFCI said.
For 10-year tenure, the bonds will carry coupon rate of 9.40 per cent per annum for all kind of investors. HNIs and RII will
have incentive of additional 0.10 per cent at 9.50 per cent.
Besides, the company will also offer NCDs with premium on redemption option for both the tenors.
"NCDs with a tenure of 5 years will be redeemed on the maturity at Rs 1,563.87 (for QIBs and corporates) and Rs 1,571.04
(for HNIs and RII).
"The NCDs with tenure of 10 years will be redeemed on maturity at Rs 2,457.50 (for QIB and corporates) and Rs 2,480.08 (for
HNIs and RII)," it added.
IN Date: 01/06/2015 Edition: Online Web By Line:PTI
IFCI raises Rs 790 cr in second tranche of NCD issue
State-owned term lender IFCI is looking at raising over Rs 790 crore in the second round of non-convertible debentures which
opened on 1 January. The company had raised Rs 1,209.19 crore in October in the first round of the Rs 2,000 crore issue for
the current financial year 2014-15. The NCDs are being offered in tenors of 5 years and 10 years. The issue will close on 4
February."IFCI is proposing a public issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each
amounting to Rs 250 crore (Base Issue Size) with an option to retain over-subscription aggregating up to the Residual Shelf
Limit of Rs 790.81 crore," the company said. The proceeds will be used for general corporate and lending purposes, it
said."This is the best option available in the present interest rate scenario, looking at the rates offered by government
securities (at around over 8 percent). Coupon rate of 9.5 percent is very attractive," said Malay Mukherjee, Managing
Director, IFCI Ltd at a press conference here today. NCDs with a tenure of 5 years, with annual coupon payout option, will
carry coupon rate of 9.35 per cent per annum for all categories of investors. It will carry additional incentive of 0.10 percent
for High Networth Individuals (HNIs) and Retail Individual Investors (RII)"...the aggregate of coupon rate and additional
incentive for HNIs and RII is 9.45 percent per annum," IFCI said. For 10-year tenure, the bonds will carry coupon rate of 9.40
percent per annum for all kind of investors. HNIs and RII will have incentive of additional 0.10 per cent at 9.50 percent.
Besides, the company will also offer NCDs with premium on redemption option for both the tenors."NCDs with a tenure of 5
years will be redeemed on the maturity at Rs 1,563.87 (for QIBs and corporate) and Rs1,571.04 (for HNIs and RII)."The NCDs
with tenure of 10 years will be redeemed on maturity at Rs 2,457.50 (for QIB and corporates) and Rs2,480.08 (for HNIs and
RII)," it added.PTI
India Infoline Date: 01/06/2015 Edition: Online Web By Line:Bureau
IFCI to raise upto Rs. 790.813 crore through Public issue of Secured, Redeemable, NCDs
IFCI Limited, acompany promoted and controlled by Government of India,is,subject to market conditions and other
considerations,proposing a public issue of secured redeemable non-convertible debentures of face value of Rs. 1,000 each
amounting to Rs. 250.00 crore ("Base Issue Size") with an option to retain oversubscription aggregating upto the Residual
Shelf Limit i.e. Rs790.813crore.
The NCDs are rated"BWR AA- (Outlook: Stable)" byBrickwork Rating India Private Limited.Instruments with this rating are
considered to have thehighdegree of safety regarding timely servicing of financial obligations. Such instruments carry
verylowcredit risk. The NCDs are rated "[ICRA]A (Stable)" by ICRA Limited.Instruments with this rating are considered to
have the adequate degree of safety regarding timely servicing of financial obligations.The NCDs are proposed to be listed on
the BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE"). The designated Stock Exchange for the Issue is
BSE.
SBI Capital Markets Limited, A.K. Capital Services Limited, Edelweiss Financial Services Limited and RR Investors Capital
Services Private Limited are the Lead Managers to the issue. Axis Trustee Services Limited has pursuant to regulation 4(4) of
SEBI Debt Regulations given its consent for its appointment as Debenture Trustee to the Issue and Karvy Computershare
Private Limited is the Registrar to the Issue. Dhir&Dhir Associates is the Legal Counsel to the Issue.
The NCDs are being offered for two tenors - 5 years and 10 years and both the tenors have an option of annual coupon or
premium on redemption. The NCDs with a tenure of 5 years, having annual coupon payout option, will have a coupon rate of
9.35% p.a. for all categories of Investors i.e Category I Investor i.e. Qualified Institutional Buyers ("QIB"), Category II Investor
i.e. Corporates, Category III Investor i.e. High Networth Individuals ("HNIs") and Category IV Investor i.e. Retail Individual
Investors ("RII"). There is an additional incentive of 0.10% p.a over coupon rate applicable only for HNIs and RII. Thus, the
aggregate of coupon rate and additional incentive for HNIs and RII is 9.45% p.a.
The NCDs with tenure of 10 years having annual coupon payout option, and will have a coupon rate of 9.40% p.a for all
categories of Investors i.e QIB, Corporates, HNIs and RII. There is an additional incentive of 0.10% p.a over coupon rate
applicable only for HNIs and RII. Thus, the aggregate of coupon rate and additional incentive for HNIs and RII is 9.50% p.a.
The Company is also offering NCDs with premium on redemption option for both the tenors i.e. 5 years and 10 years. The
NCDs of face value of Rs. 1,000 with a tenure of 5 years will be redeemed on the Maturity Date at Rs. 1,563.87(for QIBs and
Corporates) and Rs. 1,571.04 (for HNIs and RII). The NCDs of face value of Rs. 1,000 with tenure of 10 years will be redeemed
on the Maturity Date at Rs. 2,457.50( for QIB and Corporates) and Rs. 2,480.08 ( for HNIs and RII).
The Hindu Business Line Date: 01/06/2015 Edition: Online Web By Line:KR Srivats
IFCI keen on development financial institution status: CEO
Malay Mukherje, CEO&MD, IFCI Ltd.
Taps market to raise up to ?790 crore via NCD issue
IFCI Ltd will continue to pitch for a development financial institution (DFI) status even as the Reserve Bank of India has some
reservation about it, Malay Mukherjee, CEO and Managing Director, said.
"We are very keen on a DFI status. It will help reduce our cost of borrowing. We can also lend long-term and fulfil the
aspiration of undertaking specialised role in infrastructure financing," Mukherjee told BusinessLine here.
IFCI wants to get into long-term lending, say a 30-year tenure loan, a facility that it is not currently able to provide, said
Mukherjee.
The State-owned non-banking finance company is currently in the market with a public issue of non-convertible debentures
(NCDs) with base issue size of ?250 crore.
In this second tranche of NCD issue, IFCI has an option to retain oversubscription up to the residual shelf limit of ?790.813
crore. Mukherjee said IFCI had, in the first tranche in October-November 2014, mobilised about ?1,210 crore and the entire
proceeds have been deployed. The latest NCDsare being offered for two tenures, five years and 10 years, both having an
option of annual coupon or premium on redemption.
The NCDs with tenure of five years will have a coupon rate of 9.35 per cent a year for all categories of investors.
There is an additional incentive of 0.10 per cent a year over coupon rate applicable only for high networth individuals (HNIs)
and retail investors. Thus, the aggregate of coupon rate and additional incentive for HNIs and retail investors is 9.45 per cent
a year.
For NCDs with tenure of 10 years, the aggregate of coupon rate and additional incentive for HNIs and retail investors is 9.5
per cent a year.
"From the perspective of safety, liquidity and good return, our NCDs provide good investment opportunity. This is the best
option available in the current interest rate scenario, especially when 10-year G-sec is hovering around 7.86 per cent,"
Mukherjee said
Mint Date: 01/06/2015 Edition: Online Web By Line:Joel Rebello
IFCI to raise up to Rs791 crore
The bonds will have two options, one maturing in five years and another maturing in 10 years with a coupon rate of 9.35%
and 9.40% respectively. Photo: Bloomberg
State-owned IFCI Ltd Monday said it plans to sell bonds worth
Rs.791 crore to raise money to fund infrastructure projects. In its
Rs.250 crore issue which will close on 4 February, the company will reserve the right to keep up to
Rs.791 crore oversubscription, IFCI said in a press release.
The bonds will have two options, one maturing in five years and another maturing in 10 years with a coupon rate of 9.35%
and 9.40% respectively.
SBI Capital Markets Ltd, AK Capital Services Ltd, Edelweiss Financial Services Ltd and RR Investors Capital Services Pvt. Ltd are
the lead managers to the issue.
Money Control Date: 01/06/2015 Edition: Online Web By Line:Bureau
Should you invest in IFCI ncd?
Juzer Gabajiwala
Ventura Securities
About the Issue:
IFCI Ltd has planned an issue of Secured, Redeemable, Non-Convertible Debentures (NCDs) amounting to Rs. 250 crores with
an option to retain over-subscription upto a residual shelf limit of Rs 790.81 crore. The details of the issue are as under:
Issue is rated by ICRA as "A (Stable)" and Brickwork Ratings as BWR "AA- (Outlook - Stable)".
Tenure (Years) 5 10 Effective Yield (p.a.) 9.45% 9.50%
*Interest Payout Option is Annual and Cumulative. Details are for HNIs and Retail Individual Investors
Taxation Implication:
Interest earned on these NCDs will be taxable as per the tax slab of the investor. There is no Tax Deducted at Source (TDS) on
NCDs in the demat form. However, TDS will be applicable if the NCDs are taken in the physical form and the interest amount
exceeds Rs. 5,000 in any financial year.
Moreover, if these NCDs are sold after being held for more than 12 months, the investor is liable to pay long term capital
gain (LTCG) tax at a flat rate of 10.30%. And, if sold prior to the completion of 12 months, short term capital gain (STCG) tax is
applicable at the slab rate of the investor.
NDTV Profit Date: 01/06/2015 Edition: Online Web By Line:PTI
IFCI to Raise Over Rs 790 Crore From NCD Issue
State-owned term lender IFCI is looking at raising over Rs 790 crore in the second round of non-convertible debentures which
opened on January 1.
The company had raised Rs 1,209.19 crore in October in the first round of the Rs 2,000 crore issue for the current financial
year 2014-15. The NCDs are being offered in tenors of 5 years and 10 years. The issue will close on February 4.
"IFCI is proposing a public issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each amounting
to Rs 250 crore (Base Issue Size) with an option to retain over-subscription aggregating up to the Residual Shelf Limit of Rs
790.81 crore," the company said.
The proceeds will be used for general corporate and lending purposes, it said.
"This is the best option available in the present interest rate scenario, looking at the rates offered by government securities
(at around over 8 per cent). Coupon rate of 9.5 per cent is very attractive," said Malay Mukherjee, Managing Director, IFCI
Ltd at a press conference here today.
NCDs with a tenure of 5 years, with annual coupon payout option, will carry coupon rate of 9.35 per cent per annum for all
categories of investors. It will carry additional incentive of 0.10 per cent for High Networth Individuals (HNIs) and Retail
Individual Investors (RII)
"...the aggregate of coupon rate and additional incentive for HNIs and RII is 9.45 per cent per annum," IFCI said.
For 10-year tenure, the bonds will carry coupon rate of 9.40 per cent per annum for all kind of investors. HNIs and RII will
have incentive of additional 0.10 per cent at 9.50 per cent.
Besides, the company will also offer NCDs with premium on redemption option for both the tenors.
"NCDs with a tenure of 5 years will be redeemed on the maturity at Rs 1,563.87 (for QIBs and corporates) and Rs 1,571.04
(for HNIs and RII).
"The NCDs with tenure of 10 years will be redeemed on maturity at Rs 2,457.50 (for QIB and corporates) and Rs 2,480.08 (for
HNIs and RII)," it added.
Shares in IFCI closed at Rs 38.05, down 0.13 per cent, on the BSE.
News Patroling Date: 01/06/2015 Edition: Online Web By Line:Bureau
IFCI Limited to raise upto Rs. 790.813 crore through Public issue of Secured, Redeemable, Non-
convertible Debentures
Tranche II Issue has opened for subscription on January 1, 2015 and is scheduled to close on February 4, 2015 with an option
for early closure or extension by such period, as may be decided by the Board of Directors of the Company or the Board
Committee subject to necessary approval. In the event of such early closure or extension of period of the Tranche II Issue,
the Company shall ensure that public notice of such early closure or extension is published on or before such early date of
closure or the Issue Closing Date, as applicable, through advertisement(s) in at least one leading national newspaper with
wide circulation.
New Delhi, January 05, 2015: IFCI Limited ("Company" or "IFCI"), a company promoted and controlled by Government of
India, is, subject to market conditions and other considerations, proposing a public issue of secured redeemable non-
convertible debentures ("NCDs") of face value of Rs. 1,000 each amounting to Rs. 250.00 crore ("Base Issue Size") with an
option to retain oversubscription aggregating upto the Residual Shelf Limit i.e. Rs790.813crore.
The NCDs are rated "BWR AA- (Outlook: Stable)" by Brickwork Rating India Private Limited. Instruments with this rating are
considered to have the high degree of safety regarding timely servicing of financial obligations. Such instruments carry
very low credit risk. The NCDS are rated "[ICRA]A (Stable)" by ICRA Limited. Instruments with this rating are considered to
have the adequate degree of safety regarding timely servicing of financial obligations. The NCDs are proposed to be listed on
the BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE"). The designated Stock Exchange for the Issue is
BSE.
SBI Capital Markets Limited, A.K. Capital Services Limited, Edelweiss Financial Services Limited and RR Investors Capital
Services Private Limited are the Lead Managers to the issue. Axis Trustee Services Limited has pursuant to regulation 4(4) of
SEBI Debt Regulations given its consent for its appointment as Debenture Trustee to the Issue and Karvy Computershare
Private Limited is the Registrar to the Issue. Dhir&Dhir Associates is the Legal Counsel to the Issue.
The NCDs are being offered for two tenors - 5 years and 10 years and both the tenors have an option of annual coupon or
premium on redemption. The NCDs with a tenure of 5 years, having annual coupon payout option, will have a coupon rate of
9.35% p.a. for all categories of Investors i.e Category I Investor i.e. Qualified Institutional Buyers ("QIB"), Category II Investor
i.e. Corporates, Category III Investor i.e. High Networth Individuals ("HNIs") and Category IV Investor i.e. Retail Individual
Investors ("RII"). There is an additional incentive of 0.10% p.a over coupon rate applicable only for HNIs and RII. Thus, the
aggregate of coupon rate and additional incentive for HNIs and RII is 9.45% p.a.
The NCDs with tenure of 10 years having annual coupon payout option, and will have a coupon rate of 9.40% p.a for all
categories of Investors i.e QIB, Corporates, HNIs and RII. There is an additional incentive of 0.10% p.a over coupon rate
applicable only for HNIs and RII. Thus, the aggregate of coupon rate and additional incentive for HNIs and RII is 9.50% p.a.
The Company is also offering NCDs with premium on redemption option for both the tenors i.e. 5 years and 10 years. The
NCDs of face value of Rs. 1,000 with a tenure of 5 years will be redeemed on the Maturity Date at Rs. 1,563.87(for QIBs and
Corporates) and Rs. 1,571.04 ( for HNIs and RII). The NCDs of face value of Rs. 1,000 with tenure of 10 years will be redeemed
on the Maturity Date at Rs. 2,457.50( for QIB and Corporates) and Rs. 2,480.08 ( for HNIs and RII).
News Voir Date: 01/06/2015 Edition: Online Web By Line:Bureau
IFCI Limited to Raise Upto Rs. 790.813 Crore through Public Issue of Secured, Redeemable, Non-
convertible Debentures
Tranche II Issue has opened for subscription on January 1, 2015 and is scheduled to close on February 4, 2015 with an option
for early closure or extension by such period, as may be decided by the Board of Directors of the Company or the Board
Committee subject to necessary approval. In the event of such early closure or extension of period of the Tranche II Issue,
the Company shall ensure that public notice of such early closure or extension is published on or before such early date of
closure or the Issue Closing Date, as applicable, through advertisement(s) in at least one leading national newspaper with
wide circulation.IFCI Limited ("Company" or "IFCI"), a company promoted and controlled by Government of India, is, subject
to market conditions and other considerations, proposing a public issue of secured redeemable non-convertible debentures
("NCDs") of face value of Rs. 1,000 each amounting to Rs. 250.00 crore ("Base Issue Size") with an option to retain
oversubscription aggregating upto the Residual Shelf Limit i.e. Rs. 790.813 crore.The NCDs are rated "BWR AA- (Outlook:
Stable)" by Brickwork Rating India Private Limited. Instruments with this rating are considered to have the high degree of
safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The NCDS are rated
"[ICRA]A (Stable)" by ICRA Limited. Instruments with this rating are considered to have the adequate degree of safety
regarding timely servicing of financial obligations. The NCDs are proposed to be listed on the BSE Limited ("BSE") and
National Stock Exchange of India Limited ("NSE"). The designated Stock Exchange for the Issue is BSE.
SBI Capital Markets Limited, A.K. Capital Services Limited, Edelweiss Financial Services Limited and RR Investors Capital
Services Private Limited are the Lead Managers to the issue. Axis Trustee Services Limited has pursuant to regulation 4(4) of
SEBI Debt Regulations given its consent for its appointment as Debenture Trustee to the Issue and Karvy Computershare
Private Limited is the Registrar to the Issue. Dhir&Dhir Associates is the Legal Counsel to the Issue.The NCDs are being
offered for two tenors - 5 years and 10 years and both the tenors have an option of annual coupon or premium on
redemption. The NCDs with a tenure of 5 years, having annual coupon payout option, will have a coupon rate of 9.35% p.a.
for all categories of Investors i.e Category I Investor i.e. Qualified Institutional Buyers ("QIB"), Category II Investor i.e.
Corporates, Category III Investor i.e. High Networth Individuals ("HNIs") and Category IV Investor i.e. Retail Individual
Investors ("RII"). There is an additional incentive of 0.10% p.a over coupon rate applicable only for HNIs and RII. Thus, the
aggregate of coupon rate and additional incentive for HNIs and RII is 9.45% p.a. The NCDs with tenure of 10 years having
annual coupon payout option, and will have a coupon rate of 9.40% p.a for all categories of Investors i.e QIB, Corporates,
HNIs and RII. There is an additional incentive of 0.10% p.a over coupon rate applicable only for HNIs and RII. Thus, the
aggregate of coupon rate and additional incentive for HNIs and RII is 9.50% p.a. The Company is also offering NCDs with
premium on redemption option for both the tenors i.e. 5 years and 10 years. The NCDs of face value of Rs. 1,000 with a
tenure of 5 years will be redeemed on the Maturity Date at Rs. 1,563.87(for QIBs and Corporates) and Rs. 1,571.04 ( for HNIs
and RII). The NCDs of face value of Rs. 1,000 with tenure of 10 years will be redeemed on the Maturity Date at Rs. 2,457.50(
for QIB and Corporates) and Rs. 2,480.08 ( for HNIs and RII).
The Economic Times Date: 01/06/2015 Edition: Online Web By Line:PTI
IFCI to raise over Rs 790 crore in second tranche of NCD issue
State-owned term lender IFCI is looking at raising over Rs 790
crore in the second round of non-convertible debentures which opened on January 1.
State-owned term lender IFCI is looking at raising over Rs 790 crore in the second round of non-convertible debentures which
opened on January 1.
The company had raised Rs 1,209.19 crore in October in the first round of the Rs 2,000 crore issue for the current financial
year 2014-15. The NCDs are being offered in tenors of 5 years and 10 years. The issue will close on February 4.
"IFCI is proposing a public issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each amounting
to Rs 250 crore (Base Issue Size) with an option to retain over-subscription aggregating up to the Residual Shelf Limit of Rs
790.81 crore," the company said.
The proceeds will be used for general corporate and lending purposes, it said.
"This is the best option available in the present interest rate scenario, looking at the rates offered by government securities
(at around over 8 per cent). Coupon rate of 9.5 per cent is very attractive," said Malay Mukherjee, Managing Director, IFCI
Ltd at a press conference here today.
NCDs with a tenure of 5 years, with annual coupon payout option, will carry coupon rate of 9.35 per cent per annum for all
categories of investors. It will carry additional incentive of 0.10 per cent for High Networth Individuals (HNIs) and Retail
Individual Investors (RII)
"...the aggregate of coupon rate and additional incentive for HNIs and RII is 9.45 per cent per annum," IFCI said.
For 10-year tenure, the bonds will carry coupon rate of 9.40 per cent per annum for all kind of investors. HNIs and RII will
have incentive of additional 0.10 per cent at 9.50 per cent.
Besides, the company will also offer NCDs with premium on redemption option for both the tenors.
"NCDs with a tenure of 5 years will be redeemed on the maturity at Rs 1,563.87 (for QIBs and corporates) and Rs 1,571.04
(for HNIs and RII).
"The NCDs with tenure of 10 years will be redeemed on maturity at Rs 2,457.50 (for QIB and corporates) and Rs 2,480.08 (for
HNIs and RII)," it added.
The IFCI Ltd scrip closed at Rs 38.05, down 0.13 per cent, on the BSE.