Indiabulls Consumer Finance Ltd NCD
CARE has rated these NCDs as AA/Stable and Brickworks rated them as AA+/Stable, which indicate that instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations and carry lowest credit risk.
About the company:
Incorporated in 1994, Mumbai based Indiabulls Consumer Finance Limited (ICFL) is a non-deposit taking NBFC. The company is a 100% subsidiary of Indiabulls Ventures Limited. It also has a product called ‘Indiabulls Dhani’, a completely online personal loan fulfilment offering.
IBCFL also offers business loans to small and medium businesses.
The company also offers online trading services. It has a client base of over 6 lacs customers. The company has a dedicated sales team of over 900 individuals in more than 18 cities. It also markets non-discretionary wealth management products through its subsidiaries.
Public issue of secured redeemable, Non-Convertible Debentures.
Objective of NCD Indiabulls Consumer Finance Limited NCD:
- For the purpose of onward lending, financing and for repayment of interest and principal of existing borrowings of the company.
- For General Corporate purposes.
Promoters of the Company:
The promoter is Indiabulls Ventures Limited.
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