DRAFT SHELF PROSPECTUS
August 5, 2022
IIFL FINANCE LIMITED
IIFL Finance Limited (the "Company" or "Issuer") was incorporated at Mumbai on October 18, 1995 as a private limited company with the name Probity Research & Services Private Limited under the provisions of the Companies Act, 1956. The status of our Company was changed to a public limited company and our name was changed to Probity Research & Services Limited pursuant to a fresh certificate of incorporation dated on April 28, 2000 issued by the Registrar of Companies, Maharashtra, Mumbai. The name of our Company was subsequently changed to India Infoline.Com Limited, and a fresh certificate of incorporation, consequent upon change of name was issued by the Registrar of Companies, Maharashtra, Mumbai on May 23, 2000. The name of our Company was further changed to India Infoline Limited, and a fresh certificate of incorporation, consequent upon change of name was issued by the Registrar of Companies, Maharashtra, Mumbai on March 23, 2001. Thereafter, the name of our Company was changed to IIFL Holdings Limited, and a fresh certificate of incorporation, consequent upon change of name was issued by Registrar of Companies, Maharashtra, Mumbai on February 18, 2014. Thereafter, the name of our Company was changed to IIFL Finance Limited and a fresh certificate of incorporation, consequent upon change of name was issued by Registrar of Companies, Maharashtra, Mumbai on May 24, 2019. Also, our Company has obtained a Certificate of Registration dated March 06, 2020 bearing Registration No. N-13.02386 issued by the Reserve Bank of India ("RBI") to commence the business of a non-banking financial institution without accepting public deposits under Section 45 IA of the RBI Act, 1934. Our Company is a Systemically Important Non-Deposit taking Non-Banking Finance Company ("NBFC"). For more information about the Company, please see "General information" and "History and Main Objects" on pages 46 and 136, respectively.
Registered Office: IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Area, Wagle Estate, Thane 400 604, Maharashtra, India;
Tel.: +91 22 4103 5000; Fax: +91 22 2580 6654; PAN: AABCI0745G; Website: www.iifl.com; CIN: L67100MH1995PLC093797
Corporate Office: 802, 8th Floor, Hub Town Solaris, N.S. Phadke Marg, Vijay Nagar, Andheri East, Mumbai 400069, Maharashtra, India.; Tel.: +91 22 6788 1000; Fax: +91 22 6788 1010;
Chief Financial Officer: Rajesh Rajak; Email: rajesh.rajak@iifl.com; Telephone: +91 22 6788 1000
Company Secretary and Compliance Officer: Sneha Patwardhan; Email: csteam@iifl.com; Telephone: +91 22 6788 1000;
PUBLIC ISSUE BY IIFL FINANCE LIMITED ("COMPANY" OR THE "ISSUER") OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF ₹1,000 EACH ("NCDS") FOR AN AMOUNT AGGREGATING UPTO ₹50,000 MILLION ("SHELF LIMIT") HEREINAFTER REFERRED TO AS THE "ISSUE". THE NCDs WILL BE ISSUED IN ONE OR MORE TRANCHES, ON TERMS AND CONDITIONS INCLUDING TRANCHE ISSUE SIZE AS SET OUT IN THE RELEVANT TRANCHE PROSPECTUS FOR ANY TRANCHE ISSUE (EACH "TRANCHE ISSUE") WHICH SHOULD BE READ TOGETHER WITH THIS DRAFT SHELF PROSPECTUS AND THE SHELF PROSPECTUS (COLLECTIVELY, THE "OFFER DOCUMENTS"). THE ISSUE IS BEING MADE PURSUANT TO THE PROVISIONS OF SEBI NCS REGULATIONS, THE COMPANIES ACT, 2013 AND RULES MADE THEREUNDER AS AMENDED TO THE EXTENT NOTIFIED AND THE SEBI OPERATIONAL CIRCULAR. THE ISSUE IS NOT UNDERWRITTEN.
OUR PROMOTER
- Mr. Nirmal Bhanwarlal Jain; Email: csteam@iifl.com; Tel: +91 22 6788 1000 and (ii) Mr. R. Venkataraman; Email: csteam@iifl.com ; Tel: +91 22 6788 1000. For details of our Promoter, please refer to the section "Our Promoter" on page 165
GENERAL RISKS
Investment in debt securities involve a degree of risk and investors should not invest any funds in such securities unless they can afford to take the risk attached to such investments. Investors are advised to take an informed decision and to read the risk factors carefully before investing in this offering. For taking an investment decision, investors must rely on their own examination of the Issuer and the Issue, including the risks involved. Specific attention of the Investors is invited to the sections titled "Risk Factors" and "Material Developments" on page 18 and 186, respectively. These risks are not, and are not intended to be, a complete list of all risks and considerations relevant to the debt securities or investor's decision to purchase such securities. This Draft Shelf Prospectus has not been and will not be approved by any regulatory authority in India, including the Securities and Exchange Board of India ("SEBI"), the Reserve Bank of India ("RBI"), any registrar of companies or any stock exchange in India nor do they guarantee the accuracy or adequacy of this document.
CREDIT RATING
The NCDs proposed to be issued under the Issue have been rated "CRISIL AA/Stable" (pronounced as CRISIL double A rating with Stable outlook) for an amount of ₹50,000 million by CRISIL Limited ("CRISIL") vide their rating letter dated June 28, 2022, revalidated vide letter dated July 29, 2022 and [ICRA] AA (stable) (pronounced as ICRA Double A (stable)) for an amount of ₹ 50,000 million by ICRA Limited ("ICRA") vide their rating letter dated August 2, 2022. The rating given by CRISIL and ICRA are valid as on the date of this Draft Shelf Prospectus and shall remain valid until the ratings are revised or withdrawn. The aforesaid rating indicates that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk. The rating is not a recommendation to buy, sell or hold securities and investors should take their own decision. The rating may be subject to revision or withdrawal at any time by the assigning rating agency and each rating should be evaluated independently of any other rating. The rating agency has a right to suspend or withdraw the rating at any time on the basis of factors such as new information. Please refer to Annexures A and B of this Draft Shelf Prospectus for the rationale and press release of the above ratings.
COUPON RATE, COUPON PAYMENT FREQUENCY, REDEMPTION DATE, REDEMPTION AMOUNT & ELIGIBLE INVESTORS
For the details relating to Coupon Rate, Coupon Payment Frequency, Redemption Date, Redemption Amount and Eligible Investors of the NCDs, see "Terms of the Issue" on page 287. For details relating to eligible investors please see "Issue Procedure" on page 301.
LISTING
The NCDs offered through this Draft Shelf Prospectus along with Shelf Prospectus and relevant Tranche Prospectus are proposed to be listed on National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") and NSE shall be the Designated Stock Exchange. Our Company has received an 'in-principle' approval from NSE vide their letter no. [•] dated [•] 2022 and from BSE vide their letter no. [•] dated [•] 2022.
PUBLIC COMMENTS
This Draft Shelf Prospectus dated August 5, 2022 has been filed with the NSE and BSE, pursuant to the provisions of the SEBI NCS Regulations and is open for public comments for a period of seven Working Days (i.e., until 5 p.m.) from the date of filing of this Draft Shelf Prospectus with the NSE and BSE. All comments on this Draft Shelf Prospectus are to be forwarded to the attention
of the Compliance Officer of our Company. Comments may be sent through post, facsimile or e-mail. | |||||||||||||||
LEAD MANAGERS TO THE ISSUE | REGISTRAR TO THE ISSUE | ||||||||||||||
Edelweiss Financial Services | IIFL Securities Limited* | Equirus Capital Private Limited | Trust Investment Advisors Private | Link Intime India Private Limited | |||||||||||
Limited | 10th Floor, IIFL Centre | Limited | C-101, 247 Park, L.B.S. Marg | ||||||||||||
Edelweiss House | Kamala Centre, Senapati Bapat Marg | 12th Floor, C Wing, Marathon | 109/110, Balarama, | Vikhroli (West), Mumbai 400 083 | |||||||||||
Off CST Road, Kalina | Lower Parel (West), Mumbai 400 013 | Futurex | Bandra Kurla Complex, | Maharashtra, India | |||||||||||
Mumbai 400 098 | Maharashtra, India | N.M. Joshi Marg | Bandra (East), Mumbai 400 051, | Tel.: + 91 22 4918 6200 | |||||||||||
Maharashtra, India | Tel: +91 22 4646 4728 | Lower Parel, Mumbai 400 013 | Maharashtra, India | Fax: +91 22 4918 6195 | |||||||||||
Tel: +91 22 4086 3535 | Email: iifl.ncd2022@@iiflcap.com | Maharashtra, India | Tel: +91 22 4084 5000 | Email: | |||||||||||
Email: iifl.ncd@edelweissfin.com | Website: www.iiflcap.com | Tel: + 91 22 4332 0736 | Email: projectinca@trustgroup.in | iifl.ncd2022@linkintime.co.in | |||||||||||
Website: www.edelweissfin.com | Contact Person: Nishita | Email: iifl.ncd@equirus.com | Website: www.trustgroup.in | Website: www.linkintime.co.in | |||||||||||
Contact Person: Lokesh Singhi | Mody/Pawan Kumar Jain | Website: www.equirus.com | Contact Person: Hani Jalan | Contact Person: Shanti | |||||||||||
Contact person: Malay Shah | Gopalkrishnan | ||||||||||||||
DEBENTURE TRUSTEE TO THE ISSUE*** | CREDIT RATING AGENCIES | STATUTORY AUDITOR | |||||||||||||
M/S. V. Sankar Aiyar & Co. | M/s Chhajed & Doshi, | ||||||||||||||
2-C, Court Chambers | 101, Hubtown Solaris, N S | ||||||||||||||
35, New Marine Lines, | Phadke Marg, Near East West | ||||||||||||||
Vardhman Trusteeship Private | CRISIL LIMITED | ICRA Limited | Mumbai 400020 | Flyover, Andheri (East) | |||||||||||
Maharashtra, India | Mumbai- 400 069 | ||||||||||||||
Limited | CRlSIL House, Central Avenue, | Electric Mansion, 3rd Floor, | |||||||||||||
The Capital, 412 A, A Wing, | Hiranandani Business Park, | Appasaheb Marathe Marg, | Tel.: + 91 22 2200 4465 | Tel: 022-61037878 | |||||||||||
Email: mumbai@vsa.co.in | Email: info@cndindia.com | ||||||||||||||
Bandra Kurla Complex, Bandra (East) | Powai, Mumbai 400 076 | Prabhadevi, Mumbai - 400025 | |||||||||||||
Website: www.vsa.co.in | Website: www.cndindia.com | ||||||||||||||
Mumbai - 400 051, Maharashtra | Maharashtra, India | Tel: +91-22-61143406 | |||||||||||||
Contact Person: G Sankar | Contact Person: M P Chhajed | ||||||||||||||
Tel: 022 4264 8335 / 8657900674 | Tel: +91 22 3342 3000 | Fax: +91-22-24331390 | |||||||||||||
Email: | Email: crisilratingdesk@crisil.com | Email: shivakumar@icraindia.com | |||||||||||||
nilesh@vardhmantrustee.com | Website: www.crisil.com | Website: www.icra.in | |||||||||||||
Website: | Contact Person: Krishnan Sitaraman | Contact Person: L Shivakumar | |||||||||||||
http://www.vardhmantrustee.com/ | |||||||||||||||
Contact Person: Mr. Nilesh Palav | |||||||||||||||
ISSUE PROGRAMME** | |||||||||||||||
Issue opens on: As specified in the relevant Tranche Prospectus | Issue Closes on: As specified in the relevant Tranche Prospectus |
- IIFL Securities Limited is deemed to be our associate as per the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, as amended (Merchant Bankers Regulations). Further, in compliance with the provisions of Regulation 21A and explanation to Regulation 21A of the Merchant Bankers Regulations, IIFL Securities Limited would be involved only in marketing of the Issue.
**The Issue shall remain open for subscription on Working Days from 10 a.m. to 5 p.m. (Indian Standard Time) during the period indicated in the relevant Tranche Prospectus, except that the Issue may close on such earlier date or extended date as may be decided by the Board of Directors of our Company or the Finance Committee, thereof, subject to relevant approvals. In the event of an early closure or extension of the Issue, our Company shall ensure that notice of the same is provided to the prospective investors through an advertisement in a daily national newspaper with wide circulation on or before such earlier or initial date of Issue closure. On the Issue Closing Date, the Application Forms will be accepted only between 10 a.m. and 3 p.m. (Indian Standard Time) and uploaded until 5 p.m. or such extended time as may be permitted by the Stock Exchange. Further, pending mandate requests for bids placed on the last day of bidding will be validated by 5 PM on one Working Day post the Issue Closing Date. For further details please refer to the chapter titled "Issue Related Information" on page 282. - Vardhman Trusteeship Private Limited under regulation 8 of SEBI NCS Regulations has by its letter dated June 27, 2022 given its consent for its appointment as Debenture Trustee to the Issue and for its name to be included in Offer Document and in all the subsequent periodical communications sent to the holders of the NCDs issued pursuant to the Issue and the same is annexed as Annexure C to this Draft Shelf Prospectus
A copy of the Shelf Prospectus and the relevant Tranche Prospectuses shall be filed with the Registrar of Companies, Mumbai, Maharashtra, in terms of section 26 of Companies Act, 2013, along with the endorsed/certified copies of all requisite documents. For further details please refer to the chapter titled "Material Contracts and Documents for Inspection" on page 337.
TABLE OF CONTENTS | |
DEFINITIONS AND ABBREVIATIONS -------------------------------------------------------------------------------------------- | |
CERTAIN CONVENTIONS, USE OF FINANCIAL, INDUSTRY AND MARKET DATA AND CURRENCY OF | |
PRESENTATION ----------------------------------------------------------------------------------------------------------------------- | 14 |
FORWARD-LOOKING STATEMENTS -------------------------------------------------------------------------------------------- | 17 |
SECTION II - RISK FACTORS ...................................................................................................................... | 18 |
SECTION III - INTRODUCTION ................................................................................................................... | 46 |
GENERAL INFORMATION ---------------------------------------------------------------------------------------------------------- | 46 |
CAPITAL STRUCTURE --------------------------------------------------------------------------------------------------------------- | 56 |
OBJECTS OF THIS ISSUE ------------------------------------------------------------------------------------------------------------ | 74 |
SECTION IV - ABOUT OUR COMPANY ..................................................................................................... | 87 |
INDUSTRY OVERVIEW -------------------------------------------------------------------------------------------------------------- | 87 |
OUR BUSINESS ----------------------------------------------------------------------------------------------------------------------- | 108 |
HISTORY AND MAIN OBJECTS-------------------------------------------------------------------------------------------------- | 136 |
OUR MANAGEMENT --------------------------------------------------------------------------------------------------------------- | 142 |
OUR PROMOTERS ------------------------------------------------------------------------------------------------------------------- | 165 |
RELATED PARTY TRANSACTIONS -------------------------------------------------------------------------------------------- | 167 |
REGULATIONS AND POLICIES -------------------------------------------------------------------------------------------------- | 168 |
SECTION V - FINANCIAL STATEMENTS ............................................................................................... | 185 |
FINANCIAL INFORMATION ------------------------------------------------------------------------------------------------------ | 185 |
MATERIAL DEVELOPMENTS ---------------------------------------------------------------------------------------------------- | 186 |
FINANCIAL INDEBTEDNESS ----------------------------------------------------------------------------------------------------- | 188 |
SECTION IV - LEGAL AND OTHER INFORMATION ............................................................................ | 235 |
OUTSTANDING LITIGATIONS --------------------------------------------------------------------------------------------------- | 235 |
OTHER REGULATORY AND STATUTORY DISCLOSURES -------------------------------------------------------------- | 260 |
SECTION VII - ISSUE RELATED INFORMATION................................................................................. | 282 |
ISSUE STRUCTURE ----------------------------------------------------------------------------------------------------------------- | 282 |
TERMS OF THE ISSUE -------------------------------------------------------------------------------------------------------------- | 287 |
ISSUE PROCEDURE ----------------------------------------------------------------------------------------------------------------- | 301 |
SECTION VIII - SUMMARY OF KEY PROVISIONS OF ARTICLES OF ASSOCIATION ................ | 329 |
SECTION IX - MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION .......................... | 337 |
DECLARATION----------------------------------------------------------------------------------------------------------------------- | 340 |
ANNEXURE A ................................................................................................................................................. | 343 |
ANNEXURE B.................................................................................................................................................. | 344 |
ANNEXURE C ................................................................................................................................................. | 345 |
ANNEXURE D ................................................................................................................................................. | 346 |
1
SECTION I - GENERAL
DEFINITIONS AND ABBREVIATIONS
Unless the context otherwise indicates, all references in this Draft Shelf Prospectus to "the Issuer", "our Company", "the Company" or " IIFL" "IIFL Finance Limited" are to IIFL Finance Limited, public limited company incorporated under the Companies Act, 1956, validly existing under Companies Act, 2013, registered as an NBFC with the RBI under Section 45-IA of the RBI Act and having its Registered Office at IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Area, Wagle Estate Thane - 400604, Maharashtra, India.
Unless the context otherwise indicates, all references in this Draft Shelf Prospectus to "we" or "us" or "our" are to our Company. Unless the context otherwise indicates, all references in this Draft Shelf Prospectus to "Subsidiaries" shall mean Subsidiaries of our Company namely, IIFL Home Finance Limited, IIFL Samasta Finance Limited (Formerly known as Samasta Microfinance Limited), IIHFL Sales Limited and IIFL Open Fintech Private Limited.
Unless the context otherwise indicates or implies, the following terms have the following meanings in this Draft Shelf Prospectus, and references to any statute or regulations or policies includes any amendments or re-enactments thereto, from time to time.
Company related terms
Term | Description |
"Articles" or "Articles of | Articles of Association of our Company |
Association" "AOA" | |
Asset Liability | Asset Liability Management Committee of the Board of Directors |
Management Committee or | |
ALCO | |
Audit Committee | Audit committee of the Board of Directors |
"Auditors" or "Statutory | The statutory auditors of the Company, M/s. V. Sankar Aiyar & Co. and Chhajed & |
Auditors" or "Joint | Doshi |
Statutory Auditors" | |
"Board" or "Board of | Board of Directors of our Company or any duly constituted committee thereof. |
Directors" or "our Board" | |
or "our Board of Directors" | |
Brickworks | Brickworks Ratings India Private Limited |
Committee | A committee constituted by the Board, from time to time. |
Corporate Social | Corporate Social Responsibility Committee of the Board of Directors |
Responsibility Committee | |
"Credit Committee" or | Credit Committee/ Group Credit Committee as approved by the Board of Directors |
"Group Credit Committee" | depending upon the value of transactions. |
Directors | Directors of the Company |
DSA | Direct Selling Agent |
Equity Shares | Equity shares of the Company of face value of ₹ 2 each |
ESOP/s | Employee Stock Options |
Finance Committee | Finance Committee as constituted by the Board of Directors |
IIFL ESOP Plan | IIFL Finance Employees Stock Option Plan 2007; IIFL Finance Employee Stock |
Option Plan 2008; and IIFL Finance Employee Stock Option Plan 2020 - Merger | |
Scheme | |
IIFL Open Fintech | IIFL Open Fintech Private Limited |
IIHFL | IIFL Home Finance Limited |
Independent Director(s) | The independent Director(s) on our Board, in terms of Section 2(47) and Section 149(6) |
of the Companies Act, 2013 | |
IT Strategy Committee | IT Strategy Committee as constituted by the Board of Directors |
KMP / Key Managerial | Key managerial personnel of our Company as disclosed in this Draft Shelf Prospectus |
Personnel | and appointed in accordance with Key Managerial Personnel, as defined under Section |
2(51) of the Companies Act, 2013, as under: | |
"key managerial personnel", in relation to a company, means - | |
i. the chief executive officer or the managing director or the manager; | |
2 |
Term | Description |
ii. the company secretary; | |
iii. the whole-time director; | |
iv. the chief financial officer; | |
v. such other officer not more than one level below the directors who is in whole-time | |
employment designated as key managerial personnel by the Board; and | |
vi. such other officer as may be prescribed" | |
LAP | Loan Against Property |
Limited Review Financials | The Unaudited Standalone Financial Results and Unaudited Consolidated Financial |
/ Limited Review Financial | Results for the three months ended June 30, 2022 prepared in accordance with the |
Results | provisions of the Companies Act, 2013 and the Indian Accounting Standards (Ind AS) |
notified under the Companies (Indian Accounting Standard) Rules, 2015 (as amended | |
for time to time) issued by Ministry of Corporate Affairs in exercise of the powers | |
conferred by Section 133 read with Sub-section (1) of section 210A of Companies Act, | |
2013, as amended and presented in accordance with the requirements of the SEBI | |
LODR Regulations. | |
Limited Review Report | Limited review report dated July 27, 2022 for quarter ended June 30, 2022 |
Loan Book | Loan book of the Company recording relevant entries of the secured and/or unsecured |
loans advanced by the Company | |
"Memorandum" or | Memorandum of Association of our Company |
"Memorandum of | |
Association" or "MoA" | |
Nomination and | Nomination and Remuneration Committee of the Board of Directors |
Remuneration Committee | |
Networth | As defined in Sec 2(57) of the Companies Act, 2013, as follows: |
"Networth means the aggregate value of the paid-up share capital and all reserves | |
created out of the profits, securities premium account and debit or credit balance of | |
profit and loss account, after deducting the aggregate value of the accumulated losses, | |
deferred expenditure and miscellaneous expenditure not written off, as per the audited | |
balance sheet but does not include reserves created out of revaluation of assets, write | |
back of depreciation and amalgamation." | |
Preference Shares | Preference shares of the Company |
Promoter Group | Includes such persons and entities constituting the promoter group of our Company |
pursuant to Regulation 2 (1) (ff) of the SEBI NCS Regulations | |
"Promoters" or "our | The promoters of our Company are Mr. Nirmal Bhanwarlal Jain and Mr. R |
Promoter" | Venkataraman |
Reformatted Consolidated | The reformatted consolidated statement of Assets and Liabilities as at March 31, 2022, |
Financial Statements | March 31, 2021 and March 31, 2020 and the reformatted consolidated Statement of |
Profit and Loss for the Fiscal 2022, Fiscal 2021 and Fiscal 2020 and the reformatted | |
consolidated Statement of Cash Flows for the Fiscal 2022, Fiscal 2021 and Fiscal 2020 | |
and the reformatted consolidated statement of Changes in Equity for the Fiscal 2022, | |
Fiscal 2021 and Fiscal 2020, each prepared in accordance with IND AS, as examined | |
by the Statutory Auditors of our Company. | |
Our audited consolidated financial statements as at and for the year ended March 31, | |
2022, March 31, 2021 and March 31, 2020 form the basis for such Reformatted | |
Consolidated Financial Information. | |
Reformatted Financial | Reformatted Standalone Financial Statements and Reformatted Consolidated Financial |
Statements | Statements |
Reformatted Standalone | The reformatted standalone statement of Assets and Liabilities as at March 31, 2022, |
Financial Statements | March 31, 2021 and March 31, 2020 and the reformatted standalone statement of profit |
and loss for the Fiscal 2022, Fiscal 2021 and Fiscal 2020 and the reformatted standalone | |
statement of cash flows for the Fiscal 2022, Fiscal 2021 and Fiscal 2020 and the | |
reformatted standalone statement of changes in equity for the Fiscal 2022, Fiscal 2021 | |
and Fiscal 2020, each prepared in accordance with IND AS, as examined by the | |
Statutory Auditors of our Company. | |
3 |
Term | Description |
Our audited standalone financial statements as at and for the year ended March 31, | |
2022, March 31, 2021 and March 31, 2020 form the basis for such Reformatted | |
Standalone Financial Information. | |
Registered Office | The registered office of our Company is at IIFL House, Sun Infotech Park, Road No. |
16V, Plot No. B-23, Thane Industrial Area, Wagle Estate, Thane - 400604, | |
Maharashtra, India | |
Risk Management | Risk Management Committee of the Board of Directors |
Committee | |
RoC/Registrar of Companies | Registrar of Companies, Maharashtra, Mumbai |
Shareholders | The holders of the Equity Shares from time to time |
Samasta | IIFL Samasta Finance Limited (Formerly known as Samasta Microfinance Limited) |
Stakeholders Relationship | Stakeholders Relationship Committee as constituted by the Board of Directors |
Committee | |
Subsidiaries | Subsidiaries of our Company namely, IIHFL, Samasta and IIFL Open Fintech Private |
Limited | |
Issue related terms | |
Term | Description |
Abridged Prospectus | A memorandum containing salient features of the Shelf Prospectus and relevant |
Tranche Prospectus | |
Acknowledgement Slip | The slip or document issued by the Designated Intermediary to an Applicant as proof |
of registration of the Application Form | |
Allotment Advice | The communication sent to the Allottees conveying the details of NCDs allotted to the |
Allottees in accordance with the Basis of Allotment | |
"Allotment", "Allot" or | Unless the context otherwise requires, the allotment of NCDs to the successful |
Allotted | Applicants pursuant to the Shelf Prospectus and relevant Tranche Prospectus to the |
successful Allottees | |
Allottee(s) | A successful Applicant to whom the NCDs will be/have been allotted |
"Applicant" or "Investor" or | Any person who applies for issuance and Allotment of NCDs through ASBA process |
"Bidder" or "ASBA | or through UPI mechanism pursuant to the terms of this Draft Shelf Prospectus, the |
Applicant" | Shelf Prospectus, relevant Tranche Prospectus and Abridged Prospectus and the |
Application Form for the relevant Tranche Prospectus Issue | |
"ASBA" or "Application | An application (whether physical or electronic) to subscribe to the NCDs offered |
Supported by Blocked | pursuant to the Issue by submission of a valid Application Form and authorising the |
Amount" or "Application" | relevant SCSB to block the Application Amount in the relevant ASBA Account or to |
or "ASBA Application" or | block the Application Amount using the UPI Mechanism, where the Bid Amount will |
"Application" or "Bid" | be blocked upon acceptance of UPI Mandate Request by retail investors for an |
Application Amount of upto ₹ 5,00,000 which will be considered as the application for | |
Allotment in terms of the Shelf Prospectus and relevant Tranche Prospectus. | |
Application Amount/ Bid | The aggregate value of the NCDs applied for, as indicated in the Application Form for |
Amount | the Issue or the amount blocked in the ASBA Account. |
Application Form/ASBA | Form in terms of which an Applicant shall make an offer to subscribe to NCDs through |
Form/ Bid cum Application | the ASBA process or through the UPI Mechanism and which will be considered as the |
Form | Application for Allotment of NCDs in terms of this Draft Shelf Prospectus, the Shelf |
Prospectus and relevant Tranche Prospectus. | |
ASBA Account | A bank account maintained with an SCSB as specified in the ASBA Form submitted |
by ASBA Applicants for blocking the Bid Amount mentioned in the ASBA Form and | |
will include a bank account of a retail individual investor linked with UPI, for retail | |
individual investors submitting application value upto ₹ 5,00,000. | |
Banker(s) to the Issue | Collectively Sponsor Bank, Public Issue Account Bank(s) and Refund Bank. |
Base Issue Size | As will be specified in the relevant Tranche Prospectus for each Tranche Issue. |
Basis of Allotment | As will be specified in the relevant Tranche Prospectus for each Tranche Issue. |
Bidding Centres | Centres at which the Designated Intermediaries shall accept the Application Forms, i.e., |
Designated Branches of SCSB, Specified Locations for Syndicate, Broker Centres for | |
4 |
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IIFL Finance Ltd. published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 18:55:16 UTC.