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Indiabulls Commercial Credit Limited’s NCD Tranche I Issue Opens Today, January 05, 2023 Coupon Rate Upto 10.30% p.a.# Effective Yield Up to 10.30% p.a.#

• Public issue of secured redeemable non-convertible debentures (“NCDs”) of face value and issue price of ₹ 1,000 each
• The Tranche I Issue includes a base issue size of ₹ 100 crores with an option to retain oversubscription up to ₹ 100 crores aggregating up to ₹ 200 crores; within a shelf limit of ₹ 1,000 crore
• NCDs proposed to be issued pursuant to the Tranche I Issue are rated as “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited
• Tenor options: 24 months, 36 months & 60 months with monthly, annual and cumulative coupon payment options
• Staggered Redemption Options for 36 months & 60 months; Coupon rate up to 10.30% p.a.# and Effective Yield up to 10.30% p.a.#
• The Tranche I Issue opens on Thursday, January 05, 2023 and closes on Friday, January 27, 2023 **
• The NCDs are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. BSE Limited is the designated stock exchange for the Tranche I Issue.
# For further details, please refer to the section titled “Issue Related Information” on Page 79 of the Tranche I Prospectus dated December 30, 2022
**The Tranche I Issue shall remain open for subscription on Working Days from 10 a.m. to 5 p.m. (Indian Standard Time) during the period indicated above, except that the Tranche I Issue may close on such earlier date or extended date as may be decided by the Board of Directors of the Company or the Bond Issue Committee, thereof, subject to relevant approvals. In the event of an early closure or extension of the Tranche I Issue; the 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 and a regional daily at the place where the registered office of the Company is situated on or before such earlier or extended date of Tranche I Issue closure. Applications Forms for this Tranche I Issue will be accepted only from 10:00 a.m. to 5:00 p.m. or such extended time as may be permitted by BSE and NSE, on Working Days during the Tranche I Issue Period. On the Tranche I Issue Closing Date, Application Forms will be accepted only between 10:00 a.m. to 3:00 p.m. and uploaded until 5:00 p.m. (Indian Standard Time) or such extended time as may be permitted by BSE and NSE. Further, pending mandate requests for bids placed on the last day of bidding will be validated by 5 PM on one Working Day after the Tranche I Issue Closing Date. For further details please refer to the section titled “Issue Related Information” on page 79 of the Tranche I Prospectus.
Mumbai, January 05, 2023: Headquartered in New Delhi, Indiabulls Commercial Credit Limited (ICCL) (“Company” or “Issuer”), is a Non-Banking Financial Company (NBFC), registered with the Reserve Bank of India (RBI), has announced the public issue of secured, redeemable, non-convertible debentures of the face value of Rs. 1,000 each (“NCDs”). The Tranche I Issue opens Today, January 05, 2023 and closes on Friday, January 27, 2023.
The Tranche I Issue has a base issue size of ₹ 100 crores with an option to retain oversubscription up to ₹ 100 crores, aggregating up to ₹ 200 crores (“Tranche I Issue”) within a shelf limit of ₹ 1,000 crore. The Tranche I Issue offers various series of NCDs for subscription with coupon rates ranging from 9.05% p.a to 10.30% p.a. The NCDs are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” together with BSE, the “Stock Exchanges”) BSE shall be the Designated Stock Exchange for the Tranche I Issue. The NCDs have been rated “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited.
The NCDs under the Tranche I Issue have tenures of 24 months (Series I, II, III), 36 months (Series IV, V, VI), and 60 months (Series VII, VIII). Effective yield (per annum) for the NCD holders in Category I (Institutional Investors) & Category II (Non-Institutional Investors) ranges from 9.39% p.a to 9.81% p.a and for Category III (High Net-worth Individual Investors) and Category IV (Retail Individual Investors) holders ranges from 9.79% p.a to 10.30% p.a. Interest payment modes for the NCDs are Annually, Monthly or Cumulative as per the series selected by the investors. Amount on maturity for the NCD holders in Category I (Institutional Investors) & Category II (Non-Institutional Investors) ranges from ₹ 1,000 to ₹ 1,315.10 per NCD and for Category III (High Net-worth Individual Investors) and Category IV (Retail Individual Investors) ranges from ₹ 1,000 to ₹ 1,333.20 per NCD. The Tranche I Issue option for staggered redemption by face value through annual payments under 36 months (Series IV and Series VI) and 60 months (Series VII and Series VIII).
The Company is also offering an additional incentive of 0.25% to the Category III and Category IV Investors in the proposed Tranche I Issue who are also holders of NCD(s)/bond(s) previously issued by Company, and/or its holding company as the case may be, and/or are equity shareholder(s) of Indiabulls Housing Finance Limited as the case may be (“Primary Holder(s)”) on the Deemed Date of Allotment and applying in Series I, Series III, Series IV, Series VI, Series VII and/or Series VIII, provided the NCDs issued under this Tranche I Issue are held by the investors on the relevant Record Date applicable for payment of respective coupons, in respect of Series I, Series III, Series IV, Series VI, Series VII and/or Series VIII.
The Lead Managers to the Issue are Edelweiss Financial Services Limited, Elara Capital (India) Private Limited, and Trust Investment Advisors Private Limited. Beacon Trusteeship Limited is the Debenture Trustee to the Issue and KFin Technologies Limited is the Registrar to the Tranche I Issue.
Net proceeds of the Tranche I Issue, after meeting the expenditures of and related to the Tranche I Issue, at least 75% shall be utilised for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company and up to 25% for general corporate purposes.
For the six months ended September 30, 2022, ICCL reported a PAT of ₹ 236.90 crore on a total income of ₹ 937.11 crore, compared with ₹ 268.53 crore and ₹ 859.60 crore, respectively during the corresponding period of the previous fiscal.
The terms of each series of NCDs offered under the Tranche I Issue are set out below:
Series I II III IV* V VI VII VIII
Frequency of Interest Payment Annual Cumulative Monthly Annual Cumulative Monthly Annual Monthly
Minimum Application ₹ 10,000 (10 NCDs) across all Series
Face Value/ Issue Price of NCDs (₹/ NCD) ₹ 1,000
In Multiples of thereafter (₹) ₹ 1,000 (1 NCD)
Type of Instrument Secured NCDs
Tenor 24 Months 24 Months 24 Months 36 Months 36 Months 36 Months 60 Months 60 Months
Coupon (% per annum) for NCD Holders in Category I & II 9.40% NA 9.05% 9.55% NA 9.16% 9.80% 9.40%
Coupon (% per annum) for NCD Holders in Category III & IV 9.80% NA 9.40% 10.05% NA 9.61% 10.30% 9.85%
Effective Yield (per annum) for NCD Holders in Category I & II 9.39% 9.40% 9.43% 9.54% 9.55% 9.54% 9.79% 9.81%
Effective Yield (per annum) for NCD Holders in Category III & IV 9.79% 9.80% 9.80% 10.04% 10.05% 10.04% 10.29% 10.30%
Mode of Interest Payment Through various modes available
Amount (₹ / NCD) on Maturity for NCD Holders in Category I & II ₹ 1,000 ₹ 1,197.15 ₹ 1,000 Staggered Redemption in Three (3) annual payments of ₹ 333 for year 1, ₹ 333 for year 2 and ₹ 334 for year 3 starting from 1st Anniversary* until Maturity ₹ 1,315.10 Staggered Redemption in Three (3) annual payments of ₹ 333 for year 1, ₹ 333 for year 2 and ₹ 334 for year 3 starting from 1st Anniversary* until Maturity Staggered Redemption in Five (5) annual payments of ₹200 each, starting from 1st Anniversary* until Maturity Staggered Redemption in Five (5) annual payments of ₹200 each, starting from 1st Anniversary* until Maturity
Amount (₹ / NCD) on Maturity for NCD Holders in Category III & IV ₹ 1,000 ₹ 1,206.00 ₹ 1,000 Staggered Redemption in Three (3) annual payments of ₹ 333 for year 1, ₹ 333 for year 2 and ₹ 334 for year 3 starting from 1st Anniversary* until Maturity ₹ 1,333.20 Staggered Redemption in Three (3) annual payments of ₹ 333 for year 1, ₹ 333 for year 2 and ₹ 334 for year 3 starting from 1st Anniversary* until Maturity Staggered Redemption in Five (5) annual payments of ₹200 each, starting from 1st Anniversary* until Maturity Staggered Redemption in Five (5) annual payments of ₹200 each, starting from 1st Anniversary* until Maturity
Maturity / (from the Deemed Date of Allotment) 24 Months 24 Months 24 Months 36 Months 36 Months 36 Months 60 Months 60 Months
Maturity / Redemption Date (Months from the Deemed Date of Allotment) 24 Months 24 Months 24 Months Staggered Redemption by Face Value as per “Principal Redemption Schedule and Redemption Amounts” on page 102 of the Tranche I Prospectus 36 Months Staggered Redemption by Face Value as per “Principal Redemption Schedule and Redemption Amounts” on page 102 of the Tranche I Prospectus Staggered Redemption by Face Value as per “Principal Redemption Schedule and Redemption Amounts” on page 102 of the Tranche I Prospectus Staggered Redemption by Face Value as per “Principal Redemption Schedule and Redemption Amounts” on page 102 of the Tranche I Prospectus
Put and Call Option Not Applicable
* Company shall allocate and allot Series IV NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.

About Indiabulls Commercial Credit Limited (ICCL):
Indiabulls Commercial Credit Limited (ICCL) is a Non-Banking Financial Company (NBFC), registered with the Reserve Bank of India (RBI). The NCDs proposed to be issued by ICCL are rated ‘AA’ by rating agencies including CRISIL and ICRA. It was incorporated in 2006 and is a wholly owned subsidiary of Indiabulls Housing Finance Limited, with Loan book of ₹ 8,846.99 crore as of September 30, 2022. The Company, continues to focus on asset classes such as LAP and commercial real estate. For Fiscal 2022, ICCL had a profit after tax (PAT) of ₹ 508.22 crore on a total income of ₹ 1,841.88 crore, compared with ₹ 139.04 crore and ₹ 1,632.94 crore, respectively, in the previous fiscal.

Disclaimer: INDIABULLS COMMERCIAL CREDIT LIMITED (“Company”), subject to market conditions and other considerations is proposing a public issue of secured redeemable non-convertible debentures of face value of ₹ 1,000 each (“NCDs”) and has filed the Shelf Prospectus dated December 30, 2022 and Tranche I Prospectus dated December 30, 2022 (collectively “Prospectus”) with the Registrar of Companies, National Capital Territory of Delhi and Haryana, National Stock Exchange of India Limited, BSE Limited and SEBI. The Prospectus is available on the Company’s website www.indiabullscommercialcredit.com; on the website of the stock exchanges www.nseindia.com, www.bseindia.com, on the website of SEBI at www.sebi.gov.in and the respective websites of the lead managers at www.edelweissfin.com; www.elaracapital.com and www.trustgroup.in. Investors proposing to participate in the Tranche I Issue, should invest only on the basis of the information contained in the Prospectus. Investors should note that investment in the Public Issue of NCDs involves a high degree of risk and for details relating to the same, please refer to Shelf Prospectus and Tranche I Prospectus dated December 30, 2022 and the section titled “Risk Factors” beginning on page 20 of the Shelf Prospectus.
LISTING: The NCDs offered through the Draft Shelf Prospectus along with the Shelf Prospectus and Tranche I Prospectus are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” along with BSE, the “Stock Exchanges”). Our Company has received an ‘in-principle’ approval from BSE vide its letter no. DCS/BM/PI-BOND/019/22-23 dated December 28, 2022 and NSE vide its letter no. NSE/LIST/D/2022/0192 dated December 28, 2022. For the purposes of the Issue, BSE shall be the Designated Stock Exchange.

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