Manappuram Finance Limited NCD
Manappuram Finance Limited (previously known as Manappuram General Finance and Leasing Limited) is to issue Secured, Redeemable, Non-Convertible Debentures with Coupon rate upto 12.20% p.a. (No TDS), Tenor of the NCD is 400 days / 24 months under two options.
NCD Details
1. Allotment for Resident Individuals/HUF
- 70% of the issue is reserved for resident individuals and HUF’s. In the event of under subscription in any other category, resident individuals and HUF’s (application size < Rs.5 Lakhs) would get the first preference in spill-over allotment.
2. Secured NCD
- The bond to be issued is secured by way of immovable property & future receivables of the company.
3. No TDS
- Since allotment of NCD is in demat form & to be listed, there will be no TDS.
- Issue opens: August 18, 2011
- Issue Basis: First come, first served (will close earlier on full subscription)
- Issue Closes: September 05, 2011
- Issue Size – Rs 400 Crores with an option to retain an oversubscription upto Rs 350 crores,
- Rating: CARE AA- (CARE) and BWR AA- (Brickwork)
- Who Can Apply: Resident Individuals, HUF’s, Corporates, Public Financial Institutions, Banks, Provident/Pension funds & QIB’s
Download Application Form
Options |
I | II |
| Tenor | 400 Days | 24 Months |
| Minimum application | Rs.5,000 and in multiples of one bond thereafter | |
| Face Value | Rs.1,000 | |
| Issue Price | Rs.1,000 | |
| Interest Payment | Cumulative, on Maturity | Semi-Annual |
| Coupon Rate (%) | ||
| Resident Individuals/HUF | NA | 12.20% |
| Corporate/Institutions/QIB’s | NA | 12.00% |
| Yield (%) | ||
| Resident Individuals/HUF | 12.00% | 12.56% |
| Corporate/Institutions/QIB’s | 12.00% | 12.34% |
| Redemption Amount | Rs. 1,132.25 for all categories (face value + redemption premium) | Face value of NCDs plus any interest that may have accrued |
| Nature of Indebtedness | Pari Passu with other secured creditors and priority over unsecured creditors. | |
Notes:
- Application for the debentures are mendatory to be in “demat” form.
- There is no upper limit on maximum investment
- The debentures will be listed on BSE
- Interest on Application money on the amount allotted 7%, on refund amount 3%
- Invest now
Cheque/DD to be issued in favour of “Escrow Account – Manappuram Bond Issue”.
Manappuram Bond Issue closing on August 26, 2011
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jitendra
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jilakari naveen