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Let’s have a detailed review of the company and analytics of the ICFL NCD or Indiabulls Consumer Finance NCD release date, NCD issue size, subscription, Indiabulls Consumer Finance NCD allotment and other details like the company’s background, its financial positions, its promoters and other related things.

Indiabulls Consumer Finance NCD / ICFL NCD – MAY 2019 Detail

Credit Rating CARE AA Stable by CARE and BWR AA+ Stable by Brickwork Ratings India Private Limited
Issue Open May 30, 2019
Issue Close June 21, 2019
Issue Size (Base) Rs. 1000 million
Issue Size (Shelf) Rs. 30,000 million
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 1 NCD
Listing At BSE and NSE
Tenor 400 days/ 24 months/ 36 months/ 60 months
Series Series I to Series IX
Payment Frequency Monthly and Annual
Basis of Allotment Priority basis

Indiabulls Consumer Finance NCD – Basis of the Offer Price

Security Name Indiabulls Consumer Finance Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Coupon payment frequency Monthly and Annual
Coupon type Fixed
Tenor 400 days/ 24 months/ 36 months/ 60 months
Depository NSDL and CDSL
Disbursement SEBI Debt Regulations
Debenture Trustee IDBI Trusteeship Services Limited

Indiabulls Consumer Finance NCD or ICFL NCD Dates

The opening and the closing date of Indiabulls Consumer Finance NCD is May 30, 2019 to June 21, 2019.

Indiabulls Consumer Finance NCD Subscription

Day / Date QIB Category 1 NII Category 2 HNI Category 3 RII Category 4 Total Subscription
1st – 10th Day : till 19th Sept
10th – 20th Day : till
20th – 30th Day : till
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.

Indiabulls Consumer Finance NCD Allotment Status

Here, you can find the Allotment Status of this NCD.

ICFL NCD Share Offering

Issue of 5,22,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. [ ] per Equity Share (including a share premium of Rs.[ ] per Equity share) aggregating Rs. [ ] lakhs.

ICFL NCD Allocation Ratio

NCD Allocation Ratio
Category NCD’s Allocated
QIB – Category 1 20%
Corporate – Category 2 20%
HNI – Category 3 30%
RII – Category 4 30%

Indiabulls Consumer Finance NCD Offered

NCD Offered
Category NCD’s Reserved
QIB – Category 1 20,00,000
NII – Category 2 20,00,000
HNI – Category 3 30,00,000
RII – Category 4 30,00,000
Total NCD’s 1,00,00,000

Indiabulls Consumer Finance NCD / ICFL NCD Coupon Rates

NA Annual NA Monthly Annual NA Monthly Annual NA
Min. Application Rs. 10,000 (10 NCDs) across all Series
Face Value Rs. 1,000
In Multiples of thereafter (Rs.) Rs. 1,000/- (1 NCD)
Tenor 400 days 24 months 24
36 months 36
60 months 60 months
Coupon (% per annum) NA 10.27% NA 9.95% 10.41% NA 10.13% 10.61% NA
Effective Yield (% per annum) 10.00% 10.25% 10.25% 10.41% 10.40% 11.40% 10.60% 10.60% 10.60%
Moe of Interest
Through various mode available
Amount (Rs / NCD) Rs. 1,110.10 Rs. 1,000.00 Rs.1,215.83 Rs. 1,000 Rs. 1,000 Rs. 1,345.94 Rs. 1,000 Rs. 1,000 Rs. 1655.83
Put and Call Option NA NA NA NA NA NA NA NA NA

Indiabulls Consumer Finance NCD Issue Object

These are the NCD Issue Objects of the company

  • For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company; and
  • General corporate purposes

Indiabulls Ventures Limited – Company Overview

They are part of the Indiabulls Ventures group, which is a prominent financial services company providing brokering, lending and wealth management businesses, amongst other businesses. The Promoter, Indiabulls Ventures Limited, was incorporated in 1995; and its long standing presence in financial services has enabled them to establish “Indiabulls” as a recognized brand in the financial services sector.

In order to ensure expansion of the Company’s lending operations, the Promoter has infused funds periodically in the form of equity in the Company. As of March 31, 2019, they had presence in more than 100 cities throughout India through which they market their loan products, enabling them to operate on a pan-India basis.

In Fiscal 2018, they launched their end-to-end personal loan fulfillment mobile based application “Dhani”, an automated mode of lending which will enable loan application, risk analysis, credit approval, underwriting and disbursal processes to be carried out electronically through the application. Further, they use various analytical techniques which enables them to deliver digitized and customized offering to customers.

The Company has made significant investments in technology in Fiscal 2018, which has resulted in the development of quick application based electronic disbursals reducing the operating costs of the Company. This model is scalable; and going forward, the Company’s products offerings can be expanded to different geographies through “Dhani”.

Indiabulls Consumer Finance NCD Lead Managers

Lead Managers




Indiabulls Consumer Finance NCD Debenture Trustee

Debenture Trustee**
Asian Building, Ground Floor,
17, R. Kamani Marg, Ballard Estate,
Mumbai – 400 001
Telephone No.: +91 22 40807018
Facsimile No.: +91 22 66311776
Email: anjalee@idbitrustee.com
Investor Grievance Email: response@idbitrustee.com
Website: www.idbitrustee.com
Contact Person: Ms. Anjalee Athalye
SEBI Registration No.: IND000000460
CIN: U65991MH2001GOI131154

ICFL NCD Registrar to offer

Registrar to the Offer
Karvy Selenium, Tower B, Plot No – 31 & 32,
Financial District, Nanakramguda, Serilingampally
Hyderabad Rangareddy, Telangana – 500 032
Telephone No.: +91 40 6716 2222;
Facsimile No.: +91 40 2343 1551
Email: icfl.ncd2@karvy.com
Investor Grievance Email: einward.ris@karvy.com
Website: www.karvyfintech.com
Contact Person: Mr. M Murali Krishna
SEBI Registration. No.: INR000000221
CIN: U72400TG2017PTC117649

Indiabulls Consumer Finance NCD / ICFL NCD Ratings

The NCDs proposed to be issued under this Tranche II Issue have been rated CARE AA; Stable (pronounced as Double A; Outlook: Stable), for an amount of Rs 30,000 million by CARE Ratings Limited vide their letter no. CARE/HO/RL/2018-19/4260 dated December 28, 2018, and revalidated vide their letter no. CARE/HO/RL/2018-19/4596 dated January 30, 2019.

Further, they have been rated BWR AA+ (pronounced as BWR Double A Plus) (Outlook: Stable), for an amount of Rs 30,000 million by Brickwork Ratings India Private Limited vide their letter no. BWR/NCD/HO/ERC/MM/0468/2018-19 dated October 19, 2018.

Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.

Indiabulls Consumer Finance NCD News

News 1 – Download RHP Prospectus

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