CRISIL

New funding will help increase access to housing finance among economically weaker sections (EWS) and low-income groups (LIG), including women borrowers in India, with IFC's investment of up to $100 million in IIFL Home Finance Limited (IIFL HFL). The investment aims to catalyze India's affordable housing space, promote green construction, and support India's climate goals.

IFC and IIFL Home Finance Ltd. Partner to Boost Women's Access to Affordable Housing Finance, Promote Green Homes in India

Following the success of its first film, IIFL Home Finance Ltd., India's leading digital-first home finance company, is excited to announce the launch of its second film featuring veteran actor Pawan Malhotra as the beloved Bharosa Bhau. The film endures to capture the essence of trust and support that the brand unwaveringly offers its customers.

IIFL Home Finance Ltd. unveils second film in series

IIFL Group co-founder Nirmal Jain said a proposal to evaluate listing the company's mortgage and microfinance arms may soon be presented to the board. The listings aim to mitigate risks by allowing the IIFL Finance Ltd's units to independently access credit and capital markets, unfettered by holding company constraints. Guiding for a broad timeline of 18 months, managing director Nirmal Jain said that when IIFL Finance was faced with a regulatory ban by the Reserve Bank of India (RBI), banks froze the credit lines to gold loans, housing finance and microfinance businesses. “That’s another thing we understood — that is to de risk the businesses,” Jain said in an interview explaining the rationale for the possible listing of the housing finance and MFI businesses. On March 4, the RBI barred IIFL Finance from taking on new customers in the gold loan business. From a loan book of Rs 23,000 crore, its outstanding gold loans fell to Rs 12,162 crore as of August 5, 2024. The central bank lifted the ban on September 20. During the period, the lender faced issues in drawing down sanctioned loan facilities and couldn’t access bank funding.

IIFL Finance board to evaluate listing of mortgage, microfinance units

The resource profile, as on June 30, 2022, consisted of bank loans of 37%, assignment and securitization of 34%, debentures of 20%, and refinance facility of 10%.

During FY23, the company did a write-off of ₹170 crore, and including this, the GNPA would have been 3.07%. As on June 30, 2023, GNPA marginally improved to 2.10%.

IFHL is primarily into lending under the affordable housing segment which is quite competitive given the increasing number of housing finance companies lending in the affordable segment. This segment is exposed to the relatively risky customer segment which is highly susceptible to the impact of economic downturn.


The issuer has made timely interest payments.

Mr. S. Sridhar, Chairman

Mr. Monu Ratra, CEO

The company is supported by strong parentage support of IIFL which held 79.59% stake in the company as on June 30, 2023

Consolidated RoA and RoMA were 3.4% and 2.3%, respectively, in fiscal 2024 and 3.3% and 2.3%, respectively, for fiscal 2023.  On an absolute basis, consolidated net profit was Rs 1,974 crore in the fiscal 2024 and Rs 1,608 crore in fiscal 2023. Earnings were supported by lower credit cost (provisions and write-offs/average managed assets). Credit cost was marginally better at 1.1% during fiscal 2024 vis-à-vis 1.2% in fiscal 2023. 


8.20%IIFL Home Finance Limited 03 Jan 2027

ISIN:

INE477L07AN9

YOUR EARNING

Your Investment

Final Payout

₹0

*All Interest Payments will be subject to TDS (Not Applicable on Government Securities and Tax Free Bonds)

YOUR RISK

AA

CRISIL

AA+ (Negative)

BWR

Senior

Secured

ISSUER

IIFL Home Finance Limited

Recent News

IFC and IIFL Home Finance Ltd. Partner to Boost Women's Access to Affordable Housing Finance, Promote Green Homes in India

IIFL Home Finance Ltd. unveils second film in series

IIFL Finance board to evaluate listing of mortgage, microfinance units

Related Videos

Taxation

What are Bonds?

STEPS TO BUY THIS BOND

Information required for KYC

PAN Card

Bank Account Proof

Aadhaar Card

Demat Account Proof

How to exit the investment?

To know more about the Bond and the issuer, send a request for the Information Memorandum. You will receive an email shortly.

To read about the reasons for the ratings assigned to the Bond, download the Rating Rationale.

₹NaN

Price

%

Yield

Principal Amount

Accrued Interest from

Face Value

Market Value

Stamp Duty

Total Investment

as on Invalid date

as on Oct 24, 2024

Still looking for assistance?