Private Placement-Dhanlaxmi Bank Ltd. (Subordinated Bonds)

Dhanlaxmi Bank Ltd. is issuing Subordinated Bonds  of face value of Rs. 10,00,000/- each  at the coupon rate of 11.90% & 11.95% under two different tenure. The annual yield in the above product comes to 12.25% and 12.31% .

Highlights of the Bank:

• Bank has 84 years of time tested existence.
• Bank has Network of 275 branches and 425 ATMs covering 160 centers across 14 states.
• Bank has total business of over Rs. 21,500 crore as on March 31, 2011.
• Bank’s operating Profit is of Rs. 67.43 crore in FY 2010-11.
• Bank has broad customer base of 1.6 million.
• Bank has successfully raised Rs. 380.73 crore through a Qualified Institutional Placement (QIP) of equity shares in July 2010.

For Application Form, mail us at : aarkay@moneyvriksh.com

Details of the Issue:

Issuer	Dhanlaxmi Bank Ltd. (“the Issuer”/ “the Bank”)
Issue Size	Rs. 200 crore including option to retain over subscription of up to Rs. 100 crore
Instrument	Redeemable Non-Convertible Bonds in the nature of Debentures (“Bonds”)
Instrument Form	In Dematerialized Form
Credit Rating	“CARE BBB+” by CARE and “BWR BBB+ [Outlook: Stable]” by BRICKWORK
Security	Unsecured & Subordinated
Face Value	Rs. 10,00,000/- per Bond
Issue Price	At par (Rs. 10,00,000/- per Bond)
Redemption Price	At par (Rs. 10,00,000/- per Bond)
Minimum Application	5 Bonds and in multiples of 1 Bond thereafter
Option/ Bond Series	Option-I	Option-II
Tenure	5 Years 11 Months	7 Years
Put & Call Option	None	None
Redemption/ Maturity *	At par at the end of 5 years 11 months from the Deemed Date of Allotment	At par at the end of 7th year from the Deemed Date of Allotment
Coupon Rate	11.90% p.a.	11.95% p.a.
Interest Payment	Semi-Annual	Semi-Annual
Annualized Yield	12.25%	12.31%
Interest on Application Money	At the respective coupon rate from and including the date of realization ofcheque(s)/ demand draft(s)/ RTGS up to but excluding the Deemed Date ofAllotment
Listing	Proposed on the Wholesale Debt Market (WDM) Segment of the National Stock Exchange of India Ltd. (NSE)
Trustee	Axis Trustee Services Ltd.
Who can apply	Scheduled Commercial Banks, Financial Institutions, Insurance Companies, Primary/State/ District/ Central Co-operative Banks (subject to permission from RBI),Regional Rural Banks, Mutual Funds, Provident, Gratuity, Superannuation andPension Funds, Companies, Bodies Corporate authorised to invest in Bonds, Trusts,Individuals, Association of Persons, Societies registered under the applicable laws inIndia which are duly authorised to invest in Bonds.

*as per RBI norms

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Tags: Dhanlaxmi Bank, June 2012, Private Placement, subordinated bonds

Category: Blog, Fixed Deposit