Kosamattam NCD Offer Secured NCDs
Kosamattam Finance Limited is coming with a new NCD scheme. It is scheduled for subscription on 11th November 2019. The new NCD offers up to 10.25 percent of interest rates. Moreover, It provides high yields of over 10.75 percent. The experienced investment experts said that the investors may double their money by investing in this scheme. Interested investors should consult your investment advisor before invest. The other details of Kosamattam Finance NCD November 2019 available here.
Basic Details Of Kosamattam Finance NCD
|Scheme Name||Kosamattam Finance NCD November 2019|
|Security Name||Kosamattam Finance Limited|
|Subscription Period||Nov 11, 2019 – Dec 11, 2019|
|Type of Issue||Secured NCDs|
|Interest Rates and High Yields||10.25% and 10.75%|
The scheme opened for subscription on 11th November. These NCDs are secured and unsecured redeemable NCDs. The promoters of the scheme registered it at Karvy Fintech Pvt. Ltd. Kosamattam NCD will close for subscription on 11th December 2019. The total size of the issue is Rs 350 crore. It plans to raise over Rs 175 crore with an option of retaining oversubscription up to Rs 175 crore.
Objects Of The Issue
As of the NDC draft prospectus, the firm stated as net incomes of the issue will utilize towards onward lending and the repayment of interest as the primary objective. The second one is for general corporate purposes.
Investors who want to invest in this scheme will invest a minimum of Rs 10,000 (10 bonds) and in multiples of 1 bond.
It is available for 18, 24, 48, 66, and 84 months tenure. The face value of the scheme is Rs 1000 per NCD bond.
|Series||Category||Tenures in Months||Interest Payments||Coupon Rates||Effective Yields||Maturity Value|
The Scheme is reserved for qualified institutional investors, non-institutional investors, and retail investors. As of the report, the 10% of issue size reserved for QIB, 40% for NII, and 50% of issue reserved for Retail investors.
The proposed NCDs have been rated as ‘IND BBB‘ by India Ratings and Research Pvt. Ltd. This type of rating indicates that instruments with this rating are considered to have a moderate level of safety about appropriate servicing of financial obligations. These NCDs listed on Bombay Stock Exchange.
Disclaimer: This article provides information about the scheme. It does not give any advice or recommendation. Please consult your financial adviser before investing.