Kosamattam Finance NCD: Kosamattam Finance NCD July 2019 Deatils

Kosamattam Finance NCD July 2019 

Kosamattam Non-Convertible Debentures Scheme In July

Kosamattam Finance, one of the leading Gold Loan providers in India. It is a non-banking finance company that has raised about Rs 150 crore from the capital market through an issue of Secured NCDs and Unsecured Subordinated Non-convertible Debentures. This non-banking Finance company operating from Kerala and has a presence across south India.

Features of Kosamattam Finance NCD July 2019 

 Issue Open  July 16, 2019, to August 14, 2019
 Security Name  Kosamattam Finance Ltd
 Security Type  Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)
 Issue Size (Base)  Rs 150.00 Crores
 Issue Size (Shelf)  Rs 150.00 Crores
 Issue Price  Rs 1000 per NCD
 Face Value  Rs 1000 each NCD
 Minimum Lot size  10 NCD
 Market Lot  1 NCD
 Listing At  BSE
 Credit Rating  IND BBB’ Outlook Stable, by India Rating and Research Private Limited (“India Rating”).
 Tenor  400 days/24 months/48 months/60 months/84 months
 Series  Series I to Series VIII
 Payment Frequency  Cumulative and monthly.
 Basis of Allotment  First Come First Serve Basis

Kosamattam Finance NCD opened for subscription on 16th August and will close on 14th August. The size of the issue is RS 150 crore. Moreover, there is a chance to retain another Rs. 150 crore aggregation to Rs 300 crores. The NCDs offer interest rates start from 9.75% to 10.25%. The offer price is fixed at Rs 1,000 per NCD and the bid lot is margin at 10. Investors should invest for a minimum of Rs 10,000. The company has been fixed a face value of Rs 1,000 per NCD. Both Secured NCDs are available for 400days, 24 months, 48 months, 60 months, and 84 months tenor. It has monthly and cumulative Interest payment methods. Kosamattam NCDs are liquid investments and NCD bonds should be listed on BSE. This offer is led manage by Karvy Investor Services Limited and SMC Capitals Limited.

Note: Non-resident Indians (NRI’s) are not eligible for this NCD.

Objects of the Issue:

1. For onward lending,
2. Repayment of interest and principal of existing loans,
3. General Corporate Purposes

The company will use net proceeds raised from the Issue is 55 % for Onward lending, 20 % for repayment of interest and principal of existing loans, and 25 % for General corporate purposes.

NCD’s Offered

Category NCD’s Reserved
Category 1 (QIB) 150,000
Category 2 (NII) 600,000
Category 3 (HNI) 750,000
Category 4 (RII) 0
Total NCD’s
1,500,000

Coupon Rates Offered In Kosamattam Finance July NCDs

Series 1 Series 2  3rd Series Series 4 Series 5  6th Series Series 7 Series 8
Frequency of Interest Payment Cumulative Monthly Cumulative Monthly Cumulative
Tenor in Months 400 Days 24  36  48  60  84 
Coupon Rate (Retail) For Category I & II/ for III & IV NA 9.75% 10% NA 10% 10.25% NA
Amount on Maturity For Category I & II/ for III & IV ₹1,101.81 ₹1,000 ₹1,350 ₹1,500 ₹1,000 ₹2,000

Credit Ratings for NCDs

The Issue has been rated ‘IND BBB’ Outlook Stable, by India Rating and Research Private Limited (“India Rating”) for an amount up to Rs 30,000 lakhs vide its letter dated June 26, 2019. The rating of NCDs by India Ratings indicates that instruments with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.

Prospectus Details of Kosamattam NCD

Draft Prospectus 

Red Herring Prospectus 

Kosamattam Finance July 2019 Registrar

Karvy Computershare Private Limited
Karvy Registry House, 8-2-596, St. No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India

Phone: +91-40-23312454
Email: [email protected]
Website: https://karisma.karvy.com/

About the Company:

Kosamattam Finance Limited is a systemically important non-banking finance company. The main purpose of the company is to provide Gold Loan Business and Lending money against the Pledge of Household Jewellery in the state of Kerala.

0 Reviews

Write a Review

Read Previous

IRCON International Ltd – 541956 – Announcement under Regulation 30 (LODR)-Newspaper Publication

Read Next

PBM POLYTEX LTD.-$ – 514087 – Compliances-Reg. 39 (3) – Details of Loss of Certificate / Duplicate Certificate

One Comment

  • […] 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 […]

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »