Tranche I Issue opens on Thursday, January 11, 2024, and closes on Wednesday, January 24, 2024 with an option of Early Closure

• Public Issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs) of face value of ₹ 1,000 each
• The Tranche I Issue of NCDs is for a Base Issue Size of ₹ 200 crores with a green shoe option of up to ₹ 800 crores aggregating up to ₹ 1,000 crores, (“Tranche I Issue”) which is within the shelf limit of ₹ 1,500 crores (“Shelf Limit”).
• NCDs rated as CRISIL AA/Stable by CRISIL Ratings Limited and [ICRA]AA (Stable) by ICRA Limited
• Coupon Rate up to 9.66% p.a.*
• NCDs are proposed to be listed on BSE Limited
• Allotment by First Come First Served Basis**

* On Series VIII having tenor of 60 months with Annual Interest Payment option. For further details please refer to chapter titled ‘Issue Structure’ on page 126 of the Tranche I Prospectus dated December 28, 2023 (“Tranche I Prospectus”).

** Basis of Allotment: As per the SEBI Master Circular, in consultation with BSE Limited, the Designated Stock Exchange, the allotment in this Tranche I Issue is required to be made on date priority basis, i.e., first come first served basis, based on the date of upload of each application into the electronic book of the Stock Exchange, in each portion subject to the Allocation Ratio indicated in the Tranche I Prospectus. However, from the date of oversubscription and thereafter, the allotments will be made to the applicants on proportionate basis. The date of oversubscription for each category will be determined as per the bucket size based on the allocation ratio stated in Tranche I Prospectus not taking into account any spill overs due to undersubscription in other categories. Please refer “Basis of Allotment” on Page 186 of Tranche I Prospectus for more information.

MUMBAI, 8 JANUARY, 2024 (GPN): 360 ONE Prime Limited (formerly known as IIFL Wealth Prime Limited), a wholly-owned subsidiary of 360 ONE WAM Limited (formerly known as IIFL Wealth Management Limited), operating as a lending vehicle of the 360 ONE group, has announced the launch of its maiden public issue of secured, rated, listed, redeemable, non-convertible debentures (“NCDs”). 360 ONE Prime will issue Tranche I of secured, rated, listed, redeemable, NCDs, with Base Issue Size of ₹ 200 crores, with an option to retain over-subscription of up to ₹ 800 crores aggregating to ₹ 1,000 crores, which is within the Shelf Limit of ₹ 1,500 Crores. The company shall maintain a minimum-security cover of at least 1.05 times (1.05x) of the outstanding principal amounts of the NCDs and all interest due and payable thereon at all times until the Maturity Date.

The company proposes to raise funds for the purpose of onward lending, financing / refinancing the existing indebtedness of the Company, and/or debt servicing (payment of interest and/or repayment / prepayment of interest and principal of existing borrowings of the Company) and General Corporate Purposes.

The NCDs issued through the Tranche I Prospectus dated December 28, 2023 read with Shelf Prospectus dated December 28, 2023 offer a coupon of up to 9.66% per annum (under Series VIII). The NCDs are available in tenors of 18 months, 24 months, 36 months and 60 months with monthly and annual interest payment options across eight series.

NCDs proposed to be issued under Tranche I Issue are rated CRISIL AA/Stable by CRISIL Ratings Limited and [ICRA]AA (Stable) by ICRA Limited, which indicates that the instruments are considered to have a high degree of safety for timely servicing of financial obligations and carry very low credit risk.

Commenting on the NCD issue, Karan Bhagat, Founder, MD & CEO, 360 ONE said, “We have an experienced management team. Our loan approval and administration procedures, collection and enforcement procedures are designed to minimize delinquencies and maximize recoveries. Further, our processes have been standardized with the objective of providing high levels of service quality while maintaining process. The solutions offered by our Company are customized as per the clients’ requirements and credit profile.”

Himanshu Jain, CEO and Whole-time Director, 360 ONE Prime Limited said,“Our Company has a synergistic partnership with the 360 ONE Group, which ensures that clients receive best-of-the-class financial solutions. We have also benefitted by adopting good practices of 360 ONE group, which has helped in enhancing our Company’s risk underwriting abilities, which is reflected in our healthy asset quality over the years. We have an integrated technology platform for providing operational and decision-making support through the complete loan lifecycle. Our Company has credit ratings from agencies including CRISIL, CARE and ICRA. We believe our credit rating allows us to borrow funds at competitive rates from diverse sources.”

The lead managers to the issue are JM Financial Limited, A. K. Capital Services Limited and IIFL Securities Limited^#. The NCDs are proposed to be listed on BSE Limited. BSE Limited has been appointed as the Designated Stock Exchange.

The NCDs would be issued at face value of ₹1,000 each, aggregating up to ₹1,000 crore. The public issue opens on Thursday, 11^th January, 2024 and closes on Wednesday, 24^th January, 2024, with an option of early closure or extension in compliance with Securities and Exchange Board of India Issue and listing of (Non-Convertible Securities) Regulations 2021, as amended (“SEBI NCS Regulations”). The allotment will be made on a first come first served basis.Ends

About 360 ONE Prime Limited:

360 ONE Prime Limited (formerly known as IIFL Wealth Prime Limited) is a wholly owned subsidiary of 360 ONE WAM Limited (formerly known as IIFL Wealth Management Limited) operating as a lending vehicle of the 360 ONE group. It is registered as a non-deposit taking non-banking financial company with the Reserve Bank of India under Section 45-IA of the Reserve Bank of India Act (“NBFC”) and classified as a middle layer NBFC. Its product suite primarily includes Loans against Securities (LAS), Loan-against-Property (LAP) and unsecured lending products. It provides customized lending solutions including financing against a combination of liquid and illiquid financial assets to meet all funding requirements of its clients in form of term loans and advances.

AUM of the Company has grown to Rs 4,926.79 crore as of March 31, 2023 from Rs 3,703.25 crore as of March 31, 2021. For fiscal 2023, the company reported profit after tax of Rs 234.52 crore on a total revenue from Operations of Rs 673.66 crore. The total revenue and profit for the half year ended September 30, 2023 (unaudited) was Rs 458.31 crore and Rs 172.92 crore, respectively.