IIFL SPECIAL OPPORTUNITIES FUND * - Pre-IPO and IPO focused Cat II AIF
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IIFL SPECIAL OPPORTUNITIES FUND * Pre-IPO and IPO focused Cat II AIF * IIFL Special Opportunities Fund (IIFL SOF) in this presentation, refers to Series 7 and onwards launched under IIFL SOF
FUND OBJECTIVE & STRATEGY
• Objective And Strategy
• Investment Stages:
- Pre – IPO Investments
- IPO Investments – Anchor And QIB Segment
• Past IPO Subscription Figures
• Proposed IPO Pipeline
1
OBJECTIVE & STRATEGY
One of a kind Fund offering in the market giving access to Pre-IPO/IPO Opportunities
OBJECTIVE: The fund provides investors the opportunity to participate primarily in IPO and Pre-IPO
events as institutional investors. The fund would be seeking to generate Long Term Capital
appreciation through investment in Equity and Equity related instruments of to be listed companies.
STRATEGY: The fund would be achieving its objective by investing in the following opportunities:
• Pre-IPO – The fund would be investing into unlisted companies in the Pre-IPO stage. These would
be those companies which are in the pipeline for IPO and would be listing in the coming months.
• IPO through Anchor or QIB route – The fund due to its nature would be able to invest in IPOs as
an Anchor investor or through the QIB route thereby increasing the yield on capital during times
of over-subscription.
• Investments post IPO - The Fund can also invest in select opportunities post IPO like:
• Special Corporate events like QIP, Preferential allotment, FPO, Open Offer, Buy Back and
Mergers.
• Invest in IPO shares post listing if available at attractive valuations.
2
INVESTMENT STAGES (1/2)
PRE-IPO INVESTMENTS
Entering companies before they hit the roads for IPO
There are many companies which are in the IPO pipeline but their actual IPO subscription dates are still
some months away. This results in various opportunities from existing investors of the company who would
want to exit from the company before the IPO starts.
• Why would an existing investor Exit before IPO – Several times an existing investor of a company
wishes to exit from the company before the IPO happens as he doesn’t want to remain locked-in for 1
years from the IPO date (as per SEBI norms) and wishes to part or full exit before listing.
• Why would a company do Pre-IPO allocation – Many a times companies do pre-ipo allotment to
institutional investors in an effort to do price discovery and gauge market demand for their IPO issue.
• What is in it for us – We as an investor would be able to get a reasonable discount to the IPO price by
buying the shares from such an existing investor who wishes to exit. This discount is on account of us
giving him liquidity before IPO but binds us for 1 year lock-in. Also when companies give Pre-IPO shares,
it enables us to get assured allocation.
• Benefits of Pre-IPO: If we are able to arrange Pre-IPO shares through the merchant bankers then it
removes the uncertainty that is linked with the IPO allocation and also gives better yield on capital
blocked.
3INVESTMENT STAGES (2/2)
IPO INVESTMENT – ANCHOR AND QIB SEGMENT
Anchor and QIB category have the edge over the non-institutional segment
The fund would be applying in the IPO of various companies which are priced attractively and also
have sound fundamentals supporting the valuations. The fund is eligible to apply in the IPO through
the Anchor segment or the QIB category which gives it an edge over applying through the Non-
Institutional category.
Why QIB category is better than Non-Institutional category in IPO – There are various benefits of
applying through the QIB category as follows:
• By applying through the QIB category, the fund has the option of becoming an Anchor Investor in
the IPO and thereby guaranteeing the number of shares that would be allotted. However the same
would be required to be held with a lock-in of 1 month.
• The QIB category has been historically much less subscribed as compared to the Non-
Institutional category thereby improving the allocation that would happen in the IPO.
• The QIB category also has higher % allocation as compared to the Non-Institutional category.
4PAST IPO SUBSCRIPTION FIGURES
Applying through Anchor and QIB segment clearly have the edge
In any IPO, larger allocation happens to Anchor and QIB segment. This helps in getting more yield on capital in the IPO
Amount allotted
No. Of times Non-
No. Of times % Reserved % Reserved for under HNI
Institutional % Reserved
IPO Name QIB segment for Anchor Non- Category for an
segment for QIB
subscribed Investor Institutional investment of INR
subscribed
1 Cr
Reliance Nippon Asset Mgmt 117.26 210.47 30.0% 20.0% 15.0% 47,513
Godrej Agrovet Limtied 155.17 238.28 30.0% 20.0% 15.0% 41,841
Capacite Infrprojects Limited 133.96 647.11 30.0% 20.0% 15.0% 15,456
Cochin Shipyard Ltd 63.5 287.1 NA 48.7% 14.6% 1,33,333
AU Financiers India Limited 78.7 143.5 30.0% 20.0% 15.0% 69,930
Shankara Building Products 48.9 90.2 30.0% 20.0% 15.0% 1,10,277
RBL Bank 85.7 197.3 29.9% 20.0% 15.0% 50,686
Ujjivan Financial Services 34.3 134.9 32.2% 19.5% 14.5% 74,140
PERFORMANCE OF SOME RECENT IPOS
Issue Listing Price as on 29th Gains from IPO price as on
% Gain on listing day
price Price December’17 29th December’17 (%)
Reliance Nippon Asset Mgmt 252 284 12.7% 300.20 19.13
Godrej Agrovet Limtied 460 596 29.5% 579.25 25.92
Capacite Infrprojects Limited 250 343 37.0% 395.85 58.34
Cochin Shipyard Ltd 432 528 22.3% 552.10 27.80
AU Financiers India Limited 358 542 51.3% 666.80 86.26
Shankara Building Products 460 633 37.6% 1779.20 286.78
RBL Bank 225 299 32.9% 510.10 126.71
Ujjivan Financial Services 210 232 10.5% 389.10 85.29
Source: www.nseindia.com and www.bseindia.com
5PROPOSED IPO PIPELINE
After raising over INR 73,000 cr in FY17-18, IPO pipeline for 2018-19 looks promising
Aakash Education Services H.G. Infra Engineering National Insurance Company
ACME Solar HDFC Asset Management Company Limited National Stock Exchange of India Limited
Ajooni Biotech Hindustan Aeronautics Nazara Technologies
Amber Enterprises ICICI Securities Newgen Software Technologies
India Railway Catering and Tourism
Apollo Micro Systems Policybazaar.com
Corporation
Aster DM Healthcare IRCON Prince Pipes and Fittings
Bandhan Bank Jhandewalas Foods Rail Vikas Nigam
Barbeque nation Hospitality Joyalukkas Reliance General Insurance Company
Bharat Serum and Vaccines Kalyan Jewellers Reliance Jio
CMS Info Systems Karda Constructions Rithwik Facility Management Services
Energy Efficiency Services KIMS Hospital Sandhar Technologies
Gandhar Oil Refinery Laqshya Media Seaways Shipping and Logistics
Genesis Colors Lemon Tree Hotels Seven Islands Shipping
GMR Airports Lite Bite Foods SREI Equipment Finance
Go Air Lodha Developers
Galaxy Surfactants Moksh Ornaments
Note: Above list is tentative and not exhaustive
Source: Public data sources and SEBI reportings
6OUR TRACK RECORD
• Our Track Record – Past Series
• Value Unlocking by Portfolio Companies
• Past Performance Snapshot
• Our Success Story – Our Pre IPO & QIB Deals
- Portfolio Investments- Pre IPO Deals
- Portfolio Investments – QIB Deals
• Past Pre IPO Opportunities
7OUR TRACK RECORD – PAST SERIES (SERIES 1 TO SERIES 5)
Our Investment track record (since inception)
Fund Raising and Deployment Status Amount (INR Crores)
Total Funds Raised 7,340
Total Funds Deployed 2,338 ~72% of corpus
Deals Identified and being deployed 2,900
committed in 3
quarters
Overall Deployment* 5,238
• Strong Value created across deals– 5 out of our top 10 portfolio companies have seen value
appreciation (more than 50% IRR) post our investment
• Listing of Pre-IPO investments : Out of 7 investments in the Pre-IPO space, 4 portfolio companies
have already issued IPO, leading to improved portfolio liquidity. Another company has done a fund
raise within a month of our investment at ~10% higher value
• Advantage due to size: Fund size gives us the ability to execute exclusive mandates for investments
(like Nazara technologies), and makes us the first port of call for deals in the range of $50-100 mio.
Couple of our current pipeline deals are also being discussed on exclusive basis
*Includes all type of investments (Pre-IPO/QIB/Secondary Market/Anchor) in the securities mentioned above.
8
Investment Portfolio as on January 8, 2018VALUE CREATION BY PORTFOLIO COMPANIES
Current
Funds Absolute
Sr Market XIRR
Break-up of Investments Deal Type Deployed Returns
no Value (INR (%)
(INR Crore) (%)
Crore)
1 NATIONAL STOCK EXCHANGE Pre-IPO 2,095 2,153* 3 123
2 NSDL E-GOVERNANCE# Pre-IPO 1,150 1,150 - -
3 ICICI LOMBARD GENERAL INSURANCE Pre-IPO/QIB 370 650 76 204
4 SBI LIFE INSURANCE COMPANY LIMITED QIB/Listed 525 528 1 2
RELIANCE NIPPON LIFE ASSET MANAGEMENT
5
LIMITED Pre-IPO 373 441 18 50
6 NAZARA TECHNOLOGIES PVT. LTD. Pre-IPO 296 334** 13 160
7 INDIAN ENERGY EXCHANGE Pre-IPO 238 238 0 0
HDFC STANDARD LIFE INSURANCE COMPANY
8
LIMITED QIB 65 94 45 1246
9 CAPACITE INFRAPROJECTS LIMITED Pre-IPO 46 74 61 352
10 OTHERS
- 73 96 32 -
Total Investments 5,238 5,758
*NSE Valuation done as per last traded price, part of the trade is subject to regulatory approvals.
# NSDL E Governance- our bid has been accepted, transaction document terms is under discussion
**Nazara – the value stated is as per last sale of shares in the company
9OUR SUCCESS STORIES – OUR PRE IPO & QIB DEALS (1/2)
PORTFOLIO INVESTMENTS – PRE IPO
One of India’s leading private sector General Insurance Company
• It is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of
Rs 109.60 billion (FY2017).
• It markets assurance products including Car Insurance, Health Insurance, International Travel Insurance,
Overseas Student Travel Insurance, Two Wheeler Insurance, Home Insurance and Weather insurance.
One of the Leading Asset Management Companies in India
• Reliance Nippon Life Asset Management - RNAM (formerly Reliance Capital Asset Management Limited) is
one of the largest asset manager in India and manages and advises Rs. 3,58,059 crore (US$ 55.1 billion) as
per March, 2017, across mutual funds, pension funds, managed accounts, alternative investments and
offshore funds.
• As per Mar’17, RMF manages the highest assets from ‘beyond Top 15 cities’ category across all AMCs in the
Industry. RNAM acts as the advisor for India focused Equity and Fixed Income funds in Japan (launched by
Nissay Asset Management) and Korea (Samsung Asset Management).
A Boutique Construction Company
• Capacite Infraprojects Limited (CIL) is a fast-growing construction company focussed on residential,
commercial and institutional buildings, predominantly serving clientele based in Mumbai Metropolitan
Region (MMR), National Capital Region (NCR) and Bengaluru.
• CIL’s quality of work and timely execution has allowed it to enhance relationships with existing clients and
to secure projects from new clients.
Leading Stock Exchange in India
• National Stock Exchange (NSE) is the leading stock exchange in India and the fourth largest in the world (by
number of trades done on any exchange).
• The exchange was incorporated in 1992 as a tax-paying company and was recognized as a stock exchange in
1993 under the Securities Contracts (Regulation) Act,1956 as the first demutualized electronic exchange in
the country.
10OUR SUCCESS STORIES – OUR PRE IPO & QIB DEALS (2/2)
Profitable Mobile Games Publisher
• Nazara is a leading mobile games publisher focused on the large mobile consumer base in India.
• Nazara, founded by Mr. Nitish Mittersain in 2000, publishes mobile games on the Chhota Bheem series and
Virat Kohli (Stick Cricket), among others, and is one of the rare profitable VC-backed digital companies.
• It is a dominant mobile gaming subscription service in India, having captured more than 50% of the market
share in India and more than 80% share of profits in Indian Markets.
PORTFOLIO INVESTMENTS – QIB DEALS
One of India's leading organised retailers of home improvement and building products in India
• Shankara Building Products Ltd is engaged in the business of organized retailer of home and building
products.
• The Company’s business units include retail, processing and enterprise. Retail unit’s products include
cement, scaffolding, msand, steel pipes, roofing solution, plumbing, electrical, paints, tiles, exterior cladding
and solar products.
One of the 2 depositories in India
• Central Depository Services (India) Limited (CDSL) commenced depository business in 1999. As a security
depository, CDSL facilitates holding of securities in electronic form and enables security transactions,
including off market transfer and pledge to be processed by book entry.
• CDSL was initially promoted by the BSE, which subsequently divested part of its stake to leading Indian
banks.
One of India’s leading Life Insurance Companies in Private Sector
• HDFC Standard Life Insurance Company Limited (HDFC Life) is a life insurance company which provides
various individual and group insurance solutions across India.
• It offers a range of life insurance plans, such as term insurance plan, women's plan, health insurance plans,
pension plans for retirement planning, child education plans, unit linked insurance plans (ULIPs), and
savings and investment plans.
11PRE-IPO OPPORTUNITIES – ICICI LOMBARD GENERAL INSURANCE
124 ICICI LOMBARD NIFTY CNX 500
ICICI LOMBARD:
122 68.2%
120
118
116
114 CNX 500: 8.7%
112
110
108
106
104 NIFTY:6.8%
102
100
98
Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17
Issue Details Price Details Returns Since Investment Date*
Absolute
Investment Date July ’17 Buy Price Rs 461 XIRR (%)
Returns (%)
IPO Listing Date 27th Sept ‘17 ICICI
IPO Offer Price Rs 661 68.22 201.54
Lombard
QIB Subscription 8.16 times Closing Price on NIFTY 50
Rs 681.20 8.85 19.23
Listing Day
Amount Invested Rs 353 Cr
CMP (as on 29th NIFTY 500
Rs 775.50 11.89 26.25
IPO Size Rs 5,700 Cr December 17)
Exit Done No
* Returns as on 29th December 2017
12PAST PRE-IPO OPPORTUNITIES - RELIANCE NIPPON LIFE ASSET
MANAGEMENT LIMITED (RELIANCE AMC)
125 Reliance AMC NIFTY CNX 500
RELIANCE AMC:
120 19.17%
115 CNX 500: 11.7%
110
105
NIFTY:7.2%
100
95
August 17 September 17 October 17 November 17 December 17
Issue Details Price Details Returns Since Investment Date*
Absolute
Investment Date August ’17 Buy Price Rs 251.90 XIRR (%)
Returns (%)
IPO Listing Date 6th Nov ‘17
IPO Offer Price Rs 252 Reliance AMC 19.17 57.47
QIB/HNI 117.2/210.4
Subscription times Closing Price on
Rs 284 NIFTY 50 7.23 19.82
Listing Day
Amount Invested Rs 385 Cr
CMP (as on 29th
Rs 300.20 NIFTY 500 11.68 33.12
IPO Size Rs 1,542 Cr December 17)
Exit Done No
* Returns as on 29th December 2017
13PAST PRE-IPO OPPORTUNITIES – CAPACITE INFRAPROJECTS LTD
190 CAPACITE NIFTY CNX 500
170 CAPACITE: 61.27%
150
130
CNX 500: 8.6%
110
NIFTY: 6.2%
90
September 17 October 17 November 17 December 17
Issue Details Price Details Returns Since Investment Date*
Absolute
Investment Date Sept ’17 Buy Price Rs 247.17 XIRR (%)
Returns (%)
25th Sept
IPO Listing Date IPO Offer Price Rs 250.00 CAPACITE 60.15 351.72
’17
QIB/HNI 133.9/647.1
Closing Price on
Subscription times Rs 342.55 NIFTY 50 6.20 21.23
Listing Day
Amount Invested Rs 42 Cr CMP (as on 29th
Rs 395.85 NIFTY 500 8.68 30.55
December 17)
IPO Size Rs 400 Cr
Exit Done No
* Returns as on 29th December 2017
14PAST QIB OPPORTUNITIES – SHANKARA BUILDING PRODUCTS
400 SHANKARA NIFTY CNX 500
SHANKARA: 286.7%
350
300
250
200
150 CNX 500: 17.2%
100
NIFTY: 13.6%
50
April17 June17 August17 October17 December17
Issue Details Price Details Returns Since Investment Date*
Absolute
Investment Date April ’17 Buy Price Rs 460 XIRR (%)
Returns (%)
IPO Listing Date 5th April ’17
IPO Offer Price Rs 460 SHANKARA 286.78 531.10
QIB/HNI 48.9 / 90.2
Subscription times Closing Price on
Rs 630.39 NIFTY 50 13.66 19.05
Listing Day
Amount Invested Rs 1.94 Cr
CMP (as on 29th
Rs 1779.20 NIFTY 500 17.24 24.19
IPO Size Rs 350 Cr December 17)
Exit Done No
* Returns as on 29th December 2017
15PAST QIB OPPORTUNITIES – CDSL
190 CDSL NIFTY CNX 500
170
CDSL: 140.0%
150
130
CNX 500: 13.9%
110
NIFTY: 10.6%
90
June 17 July 17 August 17 September 17 October 17 November 17 December 17
Issue Details Price Details Returns Since Investment Date*
Absolute
Investment Date June ’17 Buy Price Rs 149 XIRR (%)
Returns (%)
IPO Listing Date 30th June ‘17
IPO Offer Price Rs 149 CDSL 140.00 478.78
QIB/HNI 14.8 / 558.0
Subscription times Closing Price on
Rs 261.60 NIFTY 50 10.61 22.92
Listing Day
Amount Invested Rs 6.62 Cr
CMP (as on 29th
Rs 357.60 NIFTY 500 13.91 29.85
IPO Size Rs 524 Cr December 17)
Exit Done No
* Returns as on 29th December 2017
16PAST QIB OPPORTUNITIES – HDFC STANDARD LIFE INSURANCE LTD
117
HDFC LIFE NIFTY CNX 500
115 HDFC LIFE: 33.1%
113
111
109
107 CNX 500: 3.8%
105
103
101
99 NIFTY: 2.4%
97
95
November 17 December 17
Issue Details Price Details Returns Since Investment Date*
Absolute
Investment Date November ’17 Buy Price Rs 290 XIRR (%)
Returns (%)
17th
IPO Listing Date IPO Offer Price Rs 290 HDFC LIFE 33.10 1100.23
November ’17
QIB/HNI 85.7 / 197.3
Closing Price on
Subscription times Rs 344.60 NIFTY 50 2.40 22.92
Listing Day
Amount Invested Rs 64.67 Cr CMP (as on 29th
Rs 386.00 NIFTY 500 3.87 39.09
December 17)
IPO Size Rs 8695 Cr
Exit Done No
* Returns as on 29th December 2017
17KEY TERMS
• Fund Structure & Key Terms
18FUND STRUCTURE & KEY TERMS (1/2)
Fund Set Up & Regulatory Aspects
PARTICULARS DESCRIPTION
FUND NAME IIFL Special Opportunities Fund *, a close ended scheme IIFL Private Equity Fund
CATEGORY OF FUND Category II Alternative Investment Fund
TARGET SIZE INR 3,000 cr
SPONSOR
2.5% or INR 5 cr whichever is lower
COMMITMENT
Up to 42 months from final close; option to extend by 1 year subject to approval of two-thirds of
TERM
the unit holders by value of their investment in the Alternative Investment Fund
18 months from the initial closing date, with the discretion of the Investment Manager to extend
DRAWDOWN PERIOD
the draw down period
UPFRONT 35% of the Commitment Amount or such other amount as may be decided by the
DRAWDOWN Investment Manager
INVESTMENT
IIFL Asset Management Limited
MANAGER
FUND MANAGER Mr. Amit Mehta
Resident Indians including individuals, companies, trusts, or any other eligible resident Indian
investor and Non Resident Investors (Foreign Investors, NRIs from NRE and NRO Account or
TYPE OF INVESTORS
Foreign Investors under Schedule 8 of FEMA, as permitted under RBI and SEBI regulations from
time to time).
* Series 7 and onwards
19FUND STRUCTURE & KEY TERMS (2/2)
Fees & Expenses and Exit Loads
DESCRIPTION
PARTICULARS
Share Class Class A1 Class A2 Class A3 Class A4
INR 1 cr & multiple INR 5 cr & multiple INR 15 cr & INR 20 cr &
Minimum
of Rs. 1 lakh of Rs. 1 lakh multiple of Rs. 1 multiple of Rs. 1
Commitment
thereafter thereafter lakh thereafter lakh thereafter
Not to exceed Not to exceed Not to exceed Not to exceed
Management Fee 2.00% p.a. on daily 1.75% p.a. on daily 1.50% p.a. on daily 1.00% p.a. on daily
Fixed Fee Net assets Net assets Net assets Net assets
Terms
Hurdle Rate # Post tax post expenses internal rate of return of 10% p.a. on CAGR basis
Performance Fee 10% of returns over and above the Hurdle Rate without catch-up
Administration
At actuals, not exceeding 0.15% per annum on daily net assets
Expenses
Set-up Fee Upto 2% of aggregate Capital Commitment
Redemption
Not Available
Frequency
Drawdown
30-35% every 2-4 months (subject to investment avenues availability with the Fund Manager)
Schedule
* On their net Capital Contribution(s) from the date of allotment
20 # Taxation rate applicable to an individual shall be considered for calculating the hurdle rateFUND MANAGEMENT TEAM
IIFL Special Opportunities Fund
* IIFL Special Opportunities Fund (IIFL SOF) in this presentation,
refers to Series 7 and onwards launched under IIFL SOF
21INVESTMENT MANAGER- IIFL ASSET MANAGEMENT LIMITED
In-house 6 member research team and Proven track record of investment
Experienced key personal managing
unparalleled access to Corporates philosophy. Investment focus on margin
over Rs 10,000 crores in AIFs
leading to preferential access to deals of safety and growth at reasonable price
KEY PERSONS
Prashasta Seth, - Senior Managing Partner and CEO IIFL AMC, has over 16 years of experience in the financial
services industry. Prashasta has been in IIFL Wealth since inception and has been instrumental in setting up the
equity desk at IIFL Wealth. He is currently the CEO -IIFL AMC and has been instrumental in launching and
consistently generating outperformance in various equity funds. Prashasta is a MBA from IIM Ahmedabad and B
Tech from IIT Kanpur. His previous assignment includes a stint in JP Morgan , London and heading Irevna (a
Standard & Poor’s company)
Amit Mehta – Principal, IIFL AMC and Fund Manager, has over 12 years of investing experience in India. Amit
joined IIFL AMC in 2016 and has been a key member of Private Equity team. In his investing career Amit has
invested in Companies across Financial Service, Consumer & Healthcare sectors. Amit is a MBA from IIM
Ahmedabad and B.Tech from LIT, Nagpur. His previous assignment includes a stints at marquee Private Equity
funds such as MayField Fund and Motilal Oswal Private Equity.
22KEY RISKS
IIFL Special Opportunities Fund
* IIFL Special Opportunities Fund (IIFL SOF) in this presentation,
refers to Series 7 and onwards launched under IIFL SOF
23KEY RISK FACTORS
1. GENERAL RISKS:
Risk of Investing in equity markets:
• Delay in IPO of the proposed IPO of the company
• Price fluctuation on daily basis and volatility in the value of securities.
• Strategy risk (i.e. IPO pipeline drying up due to poor market conditions)
• Macro-economic risks other market factors affecting the equity markets.
• Management Risk & Financial Risk of the companies invested in the IPO
• Liquidity risk: There may be investments in companies where market liquidity is thin. As a pre IPO investor, the
fund may be subject to lock-in as per SEBI (ICDR) Regulations, which may have liquidity issues
• Regulatory risk: Investments may be restricted from investing in certain sectors or companies, or be subject to
investment limits.
• Country risk: Investments are subject to the geographical, political, economic and social issues specific to India
2. ACTIVE RISKS
Concentration Risk:
• Concentrated Strategies are likely to witness significant volatility in returns
24DISCLAIMER
ABOUT IIFL Asset Management Limited
Contact Details – Registered Office – IIFL Centre, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Tel: (91-22) 3958 5600. Fax:
(91-22) 4646 4706
Registration Details -CIN No.: U74900MH2010PLC201113; PORTFOLIO MANAGER: INP000004565
Terms & Conditions with respect to this Report/Presentation:-
The purpose of this presentation is to provide general information to prospective investors in a manner to assist them in making investment
decision. It does not purport to contain all the information that the prospective investor may require. The presentation is made for informational
purposes only and should not be regarded as an official opinion of any kind or a recommendation. It does not constitute an offer, solicitation or an
invitation to the public in general to invest in the AIF. This presentation is intended for the use of prospective investors only to whom it is addressed
and who is willing and eligible to invest in AIF. The information contained in this presentation is obtained from sources believed to be reliable.
The Scrips/Stocks stated herein and the Portfolio of existing schemes may or may not be forming part of Portfolio of IIFL SOF -7 and onwards. Past
performance is no indication of future performance and no representation / warranty, express or implied is made regarding future performance.
Securities investment are subject to market risk is dependent on prevalent market factors, liquidity and credit conditions.
We do not represent that any information, including any third party information, is accurate or complete and it should not be relied upon without
proper investigation on the part of the investor/s. IIFL Asset Management Limited (IIFL AMC) or any of its director/s or employees does not
assure/give guarantee for any accuracy of any of the facts/interpretations in this document, and shall not be liable to any person including the
beneficiary for any claim or demand for damages or otherwise in relation to this opinion or its contents. This presentation is qualified in its entirety
by the Information Memorandum/PPM and other related documents, copies of which will be provided to prospective investors. All investors must
read the detailed Private Placement Memorandum (PPM) including the Risk Factors and consult their tax advisors, before making any investment
decision/contribution to AIF. Capitalized terms used herein shall have the meaning assigned to such terms in the PPM and other documents.
NOTE:
IIFL Wealth Management Limited (IIFLW) is Co-sponsor of the Scheme. IIFL Wealth Management Limited (IIFW) is holding company of Investment
Manager/Trustee Company of the Scheme and Co-Sponsor to the Scheme which may receive distribution or any other fees in this connection.
Further, IIFLW and its group, associate and subsidiary companies are engaged in providing various financial services and for the said services
(including the service for acquiring and sourcing the units of the fund) may earn fees or remuneration in form of arranger fees, referral fees, advisory
fees, management fees, trustee fees, Commission, brokerage, transaction charges, underwriting charges, issue management fees and other fees.
25THANK YOU.
Contact us at Customer Service: (91-22) 39585896 / 5172 / 5600
8th Floor, IIFL Centre, Kamala Mills Compound, Lower Parel, Mumbai 400 013
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