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Established in 1995, IIFL Samasta is a microfinance institution (NBFC MFI) in India offering innovative and affordable financial products to women registered as members and organized in a Joint Liability Group. IIFL Samasta is a subsidiary of IIFL Finance Limited.
The company offers loans specifically designed for underserved individuals who do not have access to traditional banking services. These loans include Income Generating Loans (IGL) for starting a new business or expanding an existing business, top-up loans, real estate loans, micro-enterprise loans and lifestyle and family welfare loans. The latter offer financing for products that can improve their living conditions, e.g. loans for dairy cattle, sanitation and hygiene loans and loans for the purchase of everyday items such as cook stoves, water purifiers, cell phones and solar lights.
| Issue Open | June 3, 2024 - June 14, 2024 |
| Security Name | IIFL Samasta Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 200.00 Crores |
| Issue Size (Oversubscription) | Rs 800.00 Crores |
| Tranche Issue Size | Rs 1,000.00 Crores |
| Issue Size (Shelf) | Rs 2,000.00 Crores |
| Tranche Number | II |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL AA-/Watch Developing by CRISIL Ratings Limited and 'ACUITE AA | Rating Watch Negative Implications' by Acuite Ratings & Rese |
| Tenor | 24, 36 and 60 Months |
| Series | Series I to VI |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 30% |
| HNI | 30% |
| Retail | 30% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 200,000 |
| Non-Institutional | 600,000 |
| HNI | 600,000 |
| Retail | 600,000 |
| Total NCD's | 2,000,000 |
IIFL Samasta Finance Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 |
|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Annual | Monthly | Annual | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 9.20% | 9.60% | 9.57% | 10.00% | 10.03% | 10.50% |
| Effective Yield (% per Annum) | 9.60% | 9.60% | 10.00% | 10.00% | 10.50% | 10.49% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
The ratings of NCDs proposed to be issued under the terms of this Tranche II Prospectus have been revalidated to CRISIL AA-/Watch Developing (Continues on 'Rating Watch with Developing Implications') for an amount of ₹ 2,000 crore by CRISIL Ratings Limited vide their rating letter dated May 8, 2024 and 'ACUITE AA | Rating Watch Negative Implications' for an amount of ₹ 2,000 crore by Acuite Ratings & Research Limited vide their rating revalidation letter dated May 10, 2024.
Mr. Narayanaswamy Venkatesh, Mr. Shivaprakash Deviah, and IIFL Finance Limited are the promoters of the company.
IIFL Samasta Finance Limited's revenue increased by 58.02% and profit after tax (PAT) rose by 292.45% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 11,400.26 | 8,904.10 |
| Revenue | 2,770.93 | 1,753.51 |
| Profit After Tax | 503.04 | 128.18 |
| Net Worth | 1,919.99 | 1,272.85 |
| Amount in ₹ Crore | ||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
The IIFL Samasta Finance NCD Tranche II May 2024 was subscribed 1.08 times on June 14, 2024 6:00:00 PM. The NCD subscribed 1.22 times in Retail, 1.65 times in HNI, 0.73 times in Non-Institutional, and 0.00 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 1.22x |
| HNI | 1.65x |
| Non-Institutional | 0.73x |
| Institutional | 0.00x |
| Total | 1.08x |
1 2.0 Rating:  Vote Here ... |
IIFL Samasta Finance Limited
110/3, Lalbagh Main Road,
Krishnappa Layout,
Bengaluru–560027
Phone: +91 80 4291 3588
Email: secretarial@iiflsamasta.com
Website: http://www.iiflsamasta.com/
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: iiflsamasta.ncd2024@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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The one you are using is for the Equity IPO and not for the NCD IPO.
Please update this.
Thanks!