IIFL Finance : Home Finance Limited - Tranche II Prospectus 2021

TRANCHE II PROSPECTUS

December 3, 2021

IIFL HOME FINANCE LIMITED

(Formerly known as India Infoline Housing Finance Limited)

IIFL Home Finance Limited (the "Company" or "Issuer") was incorporated at Mumbai on December 26, 2006 with the name India Infoline Housing Finance Limited under the provisions of the Companies Act, 1956. The name of our Company was changed to IIFL Home Finance Limited pursuant to a fresh certificate of incorporation dated on May 2, 2018 issued by the Registrar of Companies, Maharashtra, Mumbai. Our Company is registered with the National Housing Bank ("NHB") as housing finance company vide registration no. 09.0175.18 dated September 14, 2018. For more information about the Company, please refer "General information" on pages 18 and "History and Main Objects" on page 108 of this Tranche II Prospectus and page 111 of the Shelf Prospectus.

CIN: U65993MH2006PLC166475; PAN: AABCI6154K; Website: www.iiflhomeloans.com;

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: [phone]; Fax: [phone]

Corporate Office: Plot No. 98, Udyog Vihar Phase - IV, Gurgaon - 122015, Haryana, India; Tel.: [phone];

Chief Financial Officer: Amit Kumar Gupta; Email: [e-mail]; Telephone: + 91 124 4754 600;

Company Secretary and Compliance Officer: Ajay Jaiswal; Email: [e-mail]; Telephone: + 91 124 4754 600;

PUBLIC ISSUE BY IIFL HOME FINANCE LIMITED ("COMPANY" OR THE "ISSUER") OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF ₹ 1000 EACH ("SECURED NCDs") FOR AN AMOUNT OF ₹ ₹1,000 MILLION ("BASE ISSUE SIZE") WITH AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO ₹ 9,000 MILLION AMOUNTING TO ₹ ₹10,000 MILLION ("TRANCHE II ISSUE LIMIT") ("TRANCHE II ISSUE") WHICH IS WITHIN THE SHELF LIMIT OF ₹ 5 0,000 MILLION AND IS BEING OFFERED BY WAY OF THIS TRANCHE II PROSPECTUS DATED DECEMBER 3, 2021 CONTAINING INTER ALIA THE TERMS AND CONDITIONS OF TRANCHE II ISSUE ( "TRANCHE II PROSPECTUS"), WHICH SHOULD BE READ TOGETHER WITH THE SHELF PROSPECTUS DATED JUNE 29, 2021 ("SHELF PROSPECTUS") FILED WITH THE REGISTRAR OF COMPANIES, MUMBAI, MAHARASHTRA("ROC"), STOCK EXCHANGES AND SECURITIES AND EXCHANGE BOARD OF INDIA ("SEBI"). THE SHELF PROSPECTUS AND THIS TRANCHE II PROSPECTUS CONSTITUTE THE PROSPECTUS ("PROSPECTUS").

THIS TRANCHE II ISSUE IS BEING MADE PURSUANT TO THE PROVISIONS OF SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE AND LISTING OF NON- CONVERTIBLE SECURITIES) REGULATIONS, 2021 (THE "SEBI NCS REGULATIONS"), THE COMPANIES ACT, 2013 AND RULES MADE THEREUNDER AS AMENDED AND TO THE EXTENT NOTIFIED. THE TRANCHE II ISSUE IS NOT UNDERWRITTEN.

OUR PROMOTER

Our Promoter is IIFL Finance Limited (formerly known as IIFL Holdings Limited); Email: [e-mail]; Tel: [phone]. For details of our Promoter, please see "Our Promoter" on page 125.

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 Tranche II Issue, including the risks involved. Specific attention of the Investors is invited to the sections titled "Risk Factors" on page 34 and "Material Developments" on page 33. 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 Tranche II 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"), National Housing Bank ("NHB"), any registrar of companies or any stock exchange in India.

CREDIT RATING

The Secured 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 Ratings Limited ("CRISIL") vide their rating letter dated June 11, 2021 and revalidated vide letter dated November 25, 2021 and "BWR AA+/ Negative (Assigned)" (pronounced as "BWR Double A plus with Negative outlook") for an amount of ₹ 50,000 million by Brickwork Ratings India Private Limited vide their rating letter dated June 11, 2021 and revalidated vide letter dated November 26, 2021. 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 Tranche II Prospectus for the rationale of the above ratings.

COUPON RATE, COUPON PAYMENT FREQUENCY, REDEMPTION DATE, REDEMPTION AMOUNT & ELIGIBLE INVESTORS

For details relating to Coupon Rate, Coupon Payment Frequency, Redemption Date, Redemption Amount and eligible Investors of the Secured NCDs, please see "Issue Structure" on page 336.

LISTING

The Secured NCDs offered through this Tranche II Prospectus are proposed to be listed on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE"). Our Company has received an 'in-principle' approval from BSE vide its letter no. DCS/BM/PI-BOND/006/21-22 dated June 24, 2021 and NSE vide its letter no. NSE/LIST/D/2021/0061 dated June 24, 2021 and an extension of validity for three months vide letter dated November 25, 2021. For the purpose of the Tranche II Issue, NSE shall be the Designated Stock Exchange.

PUBLIC COMMENTS

The Draft Shelf Prospectus dated June 17, 2021 was filed with BSE and NSE, pursuant to the provisions of the SEBI Debt Regulations was open for public comments for a period of seven Working Days from the date of filing of the Draft Shelf Prospectus with the BSE and NSE.

LEAD MANAGERS TO THE ISSUE

Edelweiss Financial Services		IIFL Securities Limited*		ICICI Securities Limited	Equirus Capital Private Limited	Trust Investment Advisors Private
Limited		10th Floor, IIFL Centre, Kamala Centre,	ICICI Venture House	12th Floor, C Wing,	Limited
Edelweiss House		Senapati Bapat Marg, Lower Parel (West),	Appasaheb Marathe Marg,	Marathon Futurex,	109/110, Balarama,
Off CST Road, Kalina		Mumbai - 400 013, Maharashtra, India	Prabhadevi, Mumbai, 400025, India	N.M. Joshi Marg	Bandra Kurla Complex,
Mumbai 400 098		Tel: [phone]		Tel: [phone]	Lower Parel, Mumbai 400 013	Bandra (East), Mumbai 400 051,
	Fax: [phone]
Maharashtra, India			Email: [e-mail]	Maharashtra, India	Maharashtra, India
	Email: [e-mail]
Tel: [phone]		Investor Grievance Email:	Tel: + 91 22 4332 0700	Tel: [phone]
	Investor Grievance Email:
Email: [e-mail]		[e-mail]	Email: [e-mail]	Email: [e-mail]
[e-mail]
Website: www.edelweissfin.com		Website: www.icicisecurities.com	Website: www.equirus.com	Website: www.trustgroup.in
Website: www.iiflcap.com
Contact Person: Lokesh Singhi		Contact person: Ankit Sharma	Contact person: Ankit Jain	Contact Person: Hani Jalan
Contact Person: Nishita Mody
		Compliance Officer: Pawan Jain
DEBENTURE TRUSTEE		CREDIT RATING AGENCIES	STATUTORY AUDITORS			REGISTRAR TO THE ISSUE
TO THE ISSUE***
						M.P. Chitale & Co.		Suresh Surana & Associates
						1st Floor, Hamam House,	LLP
Catalyst Trusteeship Limited	CRISIL Limited	Brickwork Ratings India Private	Ambalal Doshi Marg,		308-309 Technopolis		Link Intime India Private
GDA House, Plot No. 85	CRlSIL House, Central Avenue	Limited			Fort, Mumbai 400 001		Knowledge Park, Mahakali		Limited
		Maharashtra, India		Caves Road Andheri ( East),
Bhusari Colony (Right)	Hiranandani Business Park	3rd Floor, Raj Alkaa Park, Kalena		C-101, 247 Park, L.B.S. Marg
Kothrud, Pune 411 038	Powai, Mumbai 400 076	Agahara, Banerghatta Road,	Tel.: [phone]		Mumbai - 400021		Vikhroli (West), Mumbai 400 083
Email:		Tel: [phone]
Maharashtra, India	Maharashtra, India	Bengaluru 560 076			Maharashtra, India
[e-mail]	Email: emails@ss-
Tel: + 91 22 4922 0542	Tel: [phone]	Karnataka, India				Tel.: + 91 22 4918 6200
		Membership No: 145160	associates.com
Email: ComplianceCTL-	Email:	Tel: [phone]		Fax: [phone]
Firm Registration No:		Membership No.: 102306
[e-mail]	[e-mail]	Email: [e-mail]				Email:
Website:	Website: www.crisil.com	Website:			101851W		Firm Registration No:			[e-mail]
		Contact Person: Harnish Shah	121750W/W-100010
www.catalysttrustee.com	Contact Person: Krishnan	www.brickworkratings.com		Website: www.linkintime.co.in
		Contact Person: Ramesh
Contact Person: Umesh Salvi	Sitaraman	Contact Person: K.N. Suvarna				Contact Person: Shanti
		Gupta
									Gopalkrishnan
					ISSUE PROGRAMME**
TRANCHE II ISSUE OPENS ON: WEDNESDAY, DECEMBER 8, 2021			TRANCHE II ISSUE CLOSES ON: TUESDAY, DECEMBER 28, 2021

* 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.

**This Tranche II 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 II 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 Tranche II 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 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 II Issue closure. Applications Forms for the Tranche II 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 II Issue Period. On the Tranche II 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 Issue Closing Date For further details please refer to the chapter titled "Issue Related Information" on page 336.

• Catalyst Trusteeship Limited under regulation 4(4) of SEBI Debt Regulations has by its letters dated May 28, 2021 and November 29, 2021, 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 Secured NCDs issued pursuant to the Issue and the same is annexed as Annexure C in this Tranche II Prospectus

A copy of the Shelf Prospectus and this Tranche II Prospectus has been filed with the Registrar of Companies, Mumbai, Maharashtra, in terms of section 26 and 31 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 387.

TABLE OF CONTENTS
SECTION I-GENERAL ........................................................................................................................................................	3
DEFINITIONS AND ABBREVIATIONS------------------------------------------------------------------------------------------------------------	3
CERTAIN CONVENTIONS, USE OF FINANCIAL, INDUSTRY AND MARKET DATA AND CURRENCY OF
PRESENTATION --------------------------------------------------------------------------------------------------------------------------------------	15
FORWARD-LOOKINGSTATEMENTS-----------------------------------------------------------------------------------------------------------	17
SECTION II - INTRODUCTION.......................................................................................................................................	18
GENERAL INFORMATION-------------------------------------------------------------------------------------------------------------------------	18
OBJECTS OF THE TRANCHE II ISSUE ----------------------------------------------------------------------------------------------------------	29
SECTION III - ABOUT OUR COMPANY ......................................................................................................................	33
MATERIAL DEVELOPMENTS --------------------------------------------------------------------------------------------------------------------	33
RISK FACTORS ---------------------------------------------------------------------------------------------------------------------------------------	34
CAPITAL STRUCTURE------------------------------------------------------------------------------------------------------------------------------	61
INDUSTRY OVERVIEW-----------------------------------------------------------------------------------------------------------------------------	70
OUR BUSINESS ---------------------------------------------------------------------------------------------------------------------------------------	90
HISTORY AND MAIN OBJECTS -----------------------------------------------------------------------------------------------------------------	108
OUR MANAGEMENT-------------------------------------------------------------------------------------------------------------------------------	110
OUR PROMOTER AND PROMOTER GROUP -------------------------------------------------------------------------------------------------	125
RELATED PARTY TRANSACTIONS------------------------------------------------------------------------------------------------------------	130
SECTION IV - LEGAL AND OTHER INFORMATION..............................................................................................	161
OUTSTANDING LITIGATIONS ------------------------------------------------------------------------------------------------------------------	161
FINANCIAL INFORMATION----------------------------------------------------------------------------------------------------------------------	185
STATEMENT OF TAX BENEFITS ---------------------------------------------------------------------------------------------------------------	308
OTHER REGULATORY AND STATUTORY DISCLOSURES------------------------------------------------------------------------------	317
SECTION V- ISSUE RELATED INFORMATION .......................................................................................................	336
ISSUE STRUCTURE ---------------------------------------------------------------------------------------------------------------------------------	336
TERMS OF THE ISSUE -----------------------------------------------------------------------------------------------------------------------------	342
ISSUE PROCEDURE---------------------------------------------------------------------------------------------------------------------------------	358
SECTION VI- OTHER INFORMATION .......................................................................................................................	387
MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION ----------------------------------------------------------------------	387
DECLARATION --------------------------------------------------------------------------------------------------------------------------------------	389
ANNEXURE A ...................................................................................................................................................................	390
ANNEXURE B ...................................................................................................................................................................	391
ANNEXURE C ...................................................................................................................................................................	392
ANNEXURE D ...................................................................................................................................................................	393
ANNEXURE E ...................................................................................................................................................................	401

2

SECTION I-GENERAL

DEFINITIONS AND ABBREVIATIONS

This Tranche II Prospectus uses certain definitions and abbreviations which, unless the context otherwise indicates or implies, shall have the meaning ascribed to such definitions and abbreviations set forth herein. References to any legislation, act, regulation, rules, guidelines, clarifications or policies shall be to such legislation, act, regulation, rules, guidelines, clarifications or policies as amended, supplemented or re-enacted from time to time until the date of this Tranche II Prospectus , and any reference to a statutory provision shall include any subordinate legislation notified from time to time pursuant to such provision.

The words and expressions used in this Tranche II Prospectus but not defined herein shall have, to the extent applicable, the same meaning ascribed to such words and expressions under the SEBI NCS Regulations, the Companies Act, 2013, the SCRA, the Depositories Act and the rules and regulations notified thereunder.

General Terms

Term	Description
"IIHFL" or "Company" or	IIFL Home Finance Limited (formerly known as India Infoline Housing Finance Limited), a
"the Company" or "the	company incorporated under the Companies Act, 1956, validly existing under Companies Act,
Issuer" or "our Company"	2013 and registered as a housing finance company with the NHB having its Registered Office
	at IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, MIDC, Thane Industrial
	Area, Wagle Estate Thane - 400604, Maharashtra, India.
"we" or "us" or "our"	Unless the context otherwise requires, IIFL Home Finance Limited.
Company related terms
Term	Description
"Articles" or "Articles of	Articles of Association of our Company
Association" "AOA"
Asset Liability Management	Asset Liability Management Committee of the Board of Directors
Committee or ALCO
Associate Company or	IIFL Samasta Microfinance Limited (Formerly known as Samasta Microfinance Limited)
"SML"
Audit Committee	Audit committee of the Board of Directors
"Auditors" or "Statutory	The statutory auditors of the Company, M/s M.P. Chitale & Co., Chartered Accountants and
Auditors" or "Joint Statutory	Suresh Surana & Associates LLP
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"
Committee	A committee constituted by the Board, from time to time.
Corporate Social	Corporate Social Responsibility Committee of the Board of Directors
Responsibility Committee
Corporate Office	The corporate office of our Company is at Plot No. 98, Udyog Vihar Phase - IV, Gurgaon
	122 015, India.
Credit Committee	Credit Committee as constituted by the Board of Directors
Directors	Directors of the Company
DSA	Direct Selling Agent
Equity Shares	Equity shares of the Company of face value of ₹ 10 each
Finance Committee	Finance committee as constituted by the Board of Directors
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 the Shelf Prospectus and appointed
Personnel	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 -
	3

Term	Description
	i. the chief executive officer or the managing director or the manager;
	ii. the company secretary;
	iii. the whole-time director;
	iv. the chief financial officer; and
	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 such other officer as
	may be prescribed"
LAP	Loan Against Property
Limited Review Financial	Limited Review Financial Results dated October 21, 2021 for the quarter ended September
Results	30, 2021 prepared in accordance with the provisions of the Companies Act, 2013 and the
	Indian Accounting Standards (Ind As) notified under the Companies (Indian Accounting
	Standard) Rules, 2015
Loan Book	Loan book of the Company recording relevant entries of the secured and/or unsecured loans
	advanced by the Company
"Memorandum" or "MoA" or	Memorandum of Association of our Company
"Memorandum of
Association"
Nomination and	Nomination and Remuneration Committee of the Board of Directors
Remuneration Committee
Net-worth	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) (pp) of the SEBI ICDR Regulations, 2018.
"Promoter" or "our Promoter"	The promoter of our Company is IIFL Finance Limited (formerly known as IIFL Holdings
	Limited)
Reformatted Financial	The Reformatted Statement of Assets and Liabilities of our Company as at March 31, 2021,
Statement	March 31, 2020 and March 31, 2019 and the Reformatted Statement of profit and loss for the
	year ended March 31, 2021, March 31, 2020 and March 31, 2019 and the Reformatted
	Statement of Cash Flows for the year ended March 31, 2021, March 31, 2020 and March 31,
	2019 and the Reformatted Statement of Changes in Equity for the year ended March 31, 2021,
	March 31, 2020 and March 31, 2019 and the Statement of Significant Accounting Policies and
	notes forming part thereof.
	The audited financial statements as at and for the year ended March 31, 2021, March 31, 2020
	and March 31, 2019 form the basis for such Reformatted Financial Statement under Ind AS.
Registered Office	The registered office of our Company is at IIFL House, Sun Infotech Park, Road No. 16V,
	Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate, Thane 400 604, Maharashtra,
	India
Risk Management Committee	Risk Management Committee of the Board of Directors
RoC/Registrar of Companies	Registrar of Companies, Maharashtra, Mumbai
Shareholders	The holders of the Equity Shares from time to time
Issue related terms

Term	Description
Abridged Prospectus	A memorandum containing salient features of the Shelf Prospectus and this Tranche II
	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 Secured NCDs allotted to
	the Allottees in accordance with the Basis of Allotment
"Allotment", "Allot" or	Unless the context otherwise requires, the allotment of Secured NCDs to the successful
	4

Term	Description
Allotted	Applicants pursuant to this Tranche II Issue to the successful Allottees
Allottee(s)	A successful Applicant to whom the Secured NCDs will be/have been allotted
"Applicant" or "Investor" or	Any person who applies for issuance and Allotment of Secured NCDs through ASBA process
"Bidder" or "ASBA	or through UPI mechanism pursuant to the terms of the Draft Shelf Prospectus, the Shelf
Applicant"	Prospectus, this Tranche II Prospectus and Abridged Prospectus and the Application Form for
	this Tranche II Issue
"ASBA" or "Application	An application (whether physical or electronic) to subscribe to the Secured NCDs offered
Supported by Blocked	pursuant to the Issue by submission of a valid Application Form and authorising the relevant
Amount" or "Application" or	SCSB to block the Application Amount in the relevant ASBA Account or to block the
"ASBA Application" or	Application Amount using the UPI Mechanism, where the Bid Amount will be blocked upon
"Application" or "Bid"	acceptance of UPI Mandate Request by retail investors for an Application Amount of upto ₹
	2,00,000 which will be considered as the application for Allotment in terms of this Tranche II
	Prospectus.
Application Amount/ Bid	The aggregate value of the Secured NCDs applied for, as indicated in the Application Form
Amount	for this Tranche II 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 Secured 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 Secured NCDs in terms of the Shelf Prospectus and this Tranche
	II 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 ₹ 2,00,000.
Banker(s) to the Issue	Collectively Sponsor Bank, Public Issue Account Bank(s) and Refund Bank
Base Issue Size	₹ 1,000 million
Basis of Allotment	The basis on which NCDs will be allotted to applicants under the Tranche II Issue and which
	is described in "Issue Procedure - Basis of Allotment" on page 380.
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
	Registered Brokers, Designated RTA Locations for RTAs and Designated CDP Locations for
	CDPs.
Brickwork/BWR	Brickwork Ratings India Private Limited
Broker Centres	Broker centres notified by the Stock Exchanges where Applicants can submit the ASBA Forms
	(including ASBA Forms under UPI in case of
	UPI Investors) to a Registered Broker. The details of such broker centres, along with the names
	and contact details of the Trading Members are available on the respective websites of the
	Stock Exchanges at www.bseindia.com and www.nseindia.com as updated from time to time.
BSE	BSE Limited.
Category I (Institutional	• Public financial institutions, scheduled commercial banks, Indian multilateral and bilateral
Investors)	development financial institutions which are authorised to invest in the Secured NCDs;
	• Provident funds and pension funds with a minimum corpus of ₹ 250 million, superannuation
	funds and gratuity funds, which are authorised to invest in the Secured NCDs;
	• Alternative Investment Funds, subject to investment conditions applicable to them under
	the Securities and Exchange Board of India (Alternative Investment Funds) Regulations,
	2012;
	• Resident Venture Capital Funds registered with SEBI;
	• Insurance companies registered with the IRDAI;
	• State industrial development corporations;
	• Insurance funds set up and managed by the army, navy, or air force of the Union of India;
	• Insurance funds set up and managed by the Department of Posts, the Union of India;
	• Systemically Important Non-Banking Financial Company registered with the RBI and
	having a net-worth of more than ₹ 5,000 million as per the last audited financial statements;
	• National Investment Fund set up by resolution no. F.No. 2/3/2005-DDII dated November
	23, 2005 of the Government of India published in the Gazette of India; and
	• Mutual funds registered with SEBI.
Category II (Non Institutional	• Companies within the meaning of Section 2(20) of the Companies Act, 2013;
Investors)	• statutory bodies/ corporations and societies registered under the applicable laws in India
	5