Dear All,
India Infoline Investment Services Limited (IIISL) is a downstream subsidiary of India Infoline Ltd and has holdings in India Infoline Housing Finance Ltd (license received in 2009), Moneyline Credit Ltd. (an NBFC) & India Infoline Distribution Co. Ltd.
IIISL is coming up with a NCD (Non Convertible Debenture) issue on 4th Aug 2011 and issue closes on 12th Aug 2011 The coupon is 11.70%-11.90% depending upon series (1, 2 & 3) selected.
The base issue size is Rs 375 Crore with a greenshoe option of Rs 375 Crore making the Issue size to be Rs 750 Crores out of which 40% is reserved for the Retail Category.
The Issue is Rated AA- by CARE and AA-/Stable by ICRA indicating stable outlook.
There is a 40 month premium on redemption option in Series 2 (cumulative option) which is fairly attractive considering the fact that the issue is going to be listed on NSE/BSE and hence offers better tax adjusted returns (Gains in listed NCDs for a holding period of more than 12 months are treated as Long term capital gains).
Given the attractive yields and current state of equity markets the issue is likely to be oversubscribed in first 2-3 days. Request planning in advance for the same.
Online Applications:
Online option for existing clients will be made available; wherein client can place orders online using the Insta plus Login.
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