Sep 14, 2011

IFCI TIER II SUBORDINATE BONDS – SERIES III - September 2011

IFCI is a non-banking financial company as per the Reserve Bank of India Act, 1949. IFCI is also a notified Public Financial Institution under Section 4A of the Companies Act, 1956. The company has developed for itself niche products, covering the entire range of capital structure including debt, equity, equity related products, mezzanine instruments etc. of short, medium and long term duration.

IFCI provides the entire gamut of financial advisory services to clients across different sectors of the economy. IFCI is the nodal agency for channelizing the Sugar Development Fund (SDF) Loans of the Government of India. The ndustrial Sectors in which Company has major exposures includes Power Generation, Service Sector and other Infrastructure/Logistics. Major Clientele of the company includes Ranbaxy Lab., Jaypee Group, Lanco, Emaar, Adani Group, JSW energy, Bhushan Power and Steel etc.


Subsidiaries of IFCI
IFCI Financial Services Ltd (IFIN)
IFCI Factors Ltd (IFL)
MPCON Ltd.
IFCI Infrastructure Development Ltd (IIDL)
IFCI Venture Capital Funds Ltd (IVCF)
Issuer
IFCI Limited ("the Issuer")
Offering
1,50,000 Nos. Subordinated, Unsecured, Redeemable, Non-Convertible Bonds Series – III of Rs.10,000/- each aggregating to Rs.150 crore with a green-shoe option to retain over-subscription
Type
Private Placement basis
Instrument
Subordinated, Unsecured, Redeemable, Non-Convertible Bonds – Series III
Eligible Investors
Resident Individuals/ HUFs and Domestic Non-Individual Entities.
Rating
'BWR AA–' by Brickwork Ratings India Pvt. Limited CARE 'A' by CARE Ratings (Credit Analysis & Research Ltd.) 'LA' by ICRA Limited
Face Value
Rs.10,000/- per bond
Minimum Application
Rs.1,00,000/- (i.e. 10 Bonds of Rs.10,000 each)
Application in multiples of
Rs.10,000/- (i.e.1 Bond)
Maximum Application
Rs.50 crore (Rupees Fifty crore) (50,000 Bonds of Rs.10,000/- each)
Options for Subscription
I
II
III
IV
Frequency of Interest Payment
Cumulative
Annual
Annual
10.75% p.a.
Annual
Eligible investors
( FIIs, NRIs, OCBs and Foreign Nationals are not permitted to apply in this Issue)
Individuals/HUFs for aggregate application amount upto Rs. 5 lakh(Rupees Five lakh only)
Annual Interest- All eligible investors (all other entities including Individuals/ HUFs whose aggregate application amount is more than Rs. 5 lakh)
Coupon (% p.a.)
10.60 % p.a.(Annual compounding)
10.60 % p.a
10.50 % p.a.
10.75% p.a.
Tenor
10 (Ten) years
10 (Ten) years
10 (Ten) years
15 (Fifteen) years
Call option
At the end of 7 (seven) years from the Deemed date of allotment
At the end of 7 (seven) years from the Deemed date of allotment
At the end of 7 (seven) years from the Deemed date of allotment
At the end of 10 (ten) years from the Deemed date of allotment
Deemed Date of Allotment
October 31,2011
Security
Unsecured
Nature of indebtedness and ranking
The Bonds are Unsecured Redeemable Non-Convertible and Taxable Bonds in the nature of Promissory Notes, the claims of its investors being subordinate to the claims of all other creditors.
Trustee
Axis Trustee Services Limited
Listing
Proposed to be listed on BSE
Depositories
National Securities Depository Ltd. and Central Depository Services (India) Ltd.
Registrars
Link Intime India Pvt. Ltd.
Issuance & Trading
In dematerialised mode only
Mode of Interest Payment / Redemption
RTGS/ECS/At Par Cheques/Demand Drafts
Issue Schedule
Issue Open Date : September 5,2011
Issue Close Date : October 10, 2011
The issuer would have the right to pre-close the issue or extend the closing date by giving 1 day notice to the Arrangers
Interest on Application Money shall be paid at the respective coupon from the date of realisation of subscription amount to the date immediately preceding the deemed date of allotment.
The redemption of Bonds on maturity/call option, as applicable shall be made only with approval of RBI.

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