360 ONE Prime Limited NCD: All You Need to Know

VSF Projects Limited is coming with its rights issue in the coming week. The bid opens on June 5, 2024 and closes on June 20, 2024. The last date to buy shares is Thursday, May 23, 2024. The record date of this new issue is Friday, May 24, 2024. The issue size is of 9,865,121 equity shares amounting to Rs 49.33 crores. The issue price is Rs 50 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy VSF Projects equity shares at a discounted price. VSF Projects's share price is Rs 85 per share. The eligible shareholders are being offered three Rights Equity shares for every two fully paid-up equity shares held on a May 24, 2024, record date. The payment terms are decided as the full amount of Rs 50 per share is payable on application. Through this rights issue, the company plans to raise Rs 49.33 crores. The registrar for this issue is Purva Sharegistry India Private Limited. The lead managers for this issue have yet to be announced. 

Also Read | Vilas Transcore IPO: Diving Into The Details of Upcoming Issue

About 360 ONE Prime Limited

360 ONE Prime Limited is an asset management firm that offers portfolio and wealth management services. The company also provides services such as consulting, financial planning, investment advisory, etc. The company is based in Mumbai. Formerly, it is known as IIFL Wealth Prime Limited. They rebranded in 2022, with 360 signifying a holistic view and ONE representing a customer-centric approach. The company is in 15 states in India and five other countries. The company has been rated AA/Stable by CRISIL Ratings Limited and AA (stable) by ICRA Limited. The company has helped over 1000 customers to obtain capital for various purposes such as investing in markets, meeting short-term W.C. requirements, early-stage debt, and even undertaking large acquisitions.

Objectives of 360 ONE Prime NCD

The net funds raised through NCD will be used for onward lending, financing, refinancing the company's existing indebtedness, and debt servicing. Additionally, the general corporate purposes will be met.

Financial Performance of 360 ONE Prime (In Rs Crore)

360 ONE Prime Limited posted a revenue of Rs 897.21 crore and PAT of Rs 273.63 crore for the period ending on 31 March 2024. The company’s revenue increased by 33.18% and net profit increased by 16.68% between the FY ending on 31 March 2024 and 31 March 2023.

Important Details of 360 ONE Prime Limited NCD 2024

Coupon Rates of 360 ONE Prime Limited NCD

NCD Rating 

The NCD has been rated AA/Stable by CRISIL Ratings Limited and AA (stable) by ICRA Limited.

NCD Allocation Ratio

Institutional 25%, Non-institutional 25%, HNI 25% and Retail 25%. 

Lead Manager of 360 ONE Prime Limited NCD

The lead manager for the 360 ONE Prime Limited NCD is Trust Investment Advisors Private Limited, AK Capital Services Limited, IIFL Securities. 

How to Apply for 360 ONE Prime Limited NCD?

Wait for the NCD to open for subscription, then click here to apply for this NCD online and in a hassle free way.

How do you check the allotment status of 360 ONE Prime Limited NCD?

The 360 ONE Prime Limited NCD 2024 registrar is Link Intime India Limited. To check your allotment status, please click here.

FAQs

1. When will the 360 ONE Prime Limited NCD be open for subscription?

360 ONE Prime Limited NCD issue is open on Friday, 24 May 2024 and will close on Thursday, June 6 2024.

2. What is the issue size and price of the NCD?

The base issue size is 100 crore and for oversubscription issue size remains 400 crore.

3. What are the main objectives of the 360 ONE Prime Limited NCD?

The net funds raised through NCD will be used for onward lending, financing, refinancing the company's existing indebtedness and debt servicing. Additionally, the general corporate purposes will be met.

4. How has 360 ONE Prime Limited performed financially?

360 ONE Prime Limited posted a revenue of Rs 897.21 crore and PAT of Rs 273.63 crore for the period ending on 31 March 2024. The company’s revenue increased by 33.18% and net profit increased by 16.68% between the FY ending on 31 March 2024 and 31 March 2023.

5. What types of financial services does 360 ONE Prime offer?

360 ONE Prime Limited is an asset management firm that offers portfolio and wealth management services. It also provides services like consulting, financial planning and investment advisory. 

6. How can I apply for the 360 ONE Prime Limited NCD ?

Wait for the NCD to open for subscription, then click here to apply for the 360 ONE Prime Limited NCD. 

7. How can I check the allotment status of the NCD?

The 360 ONE Prime Limited NCD registrar is Link Intime India Limited. To check your allotment status, please click here.

8. What are the tenors and effective yields for the NCD?

The NCDs offer tenors of 18, 24, 36, 60, and 120 months, with coupon rates varying from 8.86% to 9.85% from Series 1 to Series 10. 

9. Who is the lead manager for the 360 ONE Prime Limited NCD?

360 ONE Prime Limited NCD are Trust Investment Advisors Private Limited, AK Capital Services Limited, IIFL Securities are appointed as the lead managers for this NCD issue.

Also Read | GSM Foils IPO: What Investors Need to Know Before Investing?