06-Apr-2024
2 mins read
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Kosamattam Finance Limited NCD issue will open on Monday April 8, 2024 and will close on Tuesday, April 23, 2024. It is a Secured, Redeemable, Non-Convertible Debentures. The overall issue size is of Rs 250 crores. The base issue size is 125 crore and for oversubscription issue size remains 125 crore. Kosamattam Finance NCD issue price is Rs 1000 per NCD and face value is Rs 1000 each NCD. The minimum lot size is 10 NCD. The basis of allotment is first come and first serve basis. The listing is at (Bombay Stock Exchange) BSE and the tenor is of 18, 24, 30, 36, 39, 48, 54 and 88 months. The lead manager of Kosamattam Finance Limited NCD is SMC Capitals Limited. The registrar for this NCD is Kfin Technologies Limited.
About Kosamattam Finance Limited
Kosamattam Finance Limited is a Non-banking finance company primarily engaged in the business of gold loans. The company is part of Kosamattam which is headed by Mathew K. Cherian. Company provides loans against the pledge of household ornaments to businessmen, vendors, traders, farmers, employees and families in Kerala and other southern states. In addition to the gold loans, the company also provides fee based additional services such as micro finance, money transfer services and power generation, foreign currency exchange, agriculture and flight ticketing services. Kosamattam Finance Limited has branches spread across the rural and semi urban localities in the country. It provides loans which are instantly processed with the minimum documentation, making things easier for the common man. As of December 2023, the company had 988 branches in Kerala and other states of India and the UT of Puducherry and employees over 3818 people.
Objectives of Kosamattam Finance Limited NCD
The net amount received from this NCD issue will be used for the purpose of lending. Other than this, money will be utilised for the repayment of principal and interest of existing debts of the company. Also, the remaining funds will be used for fulfilling the general corporate purposes.
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Financial Performance of Kosamattam Finance Limited (In Rs Crore)
Kosamattam Finance Limited posted a revenue of Rs 782.54 crore and profit after tax of Rs 107.05 crore for the period ending on 31st March 2023. The company’s revenue increased by 25.25% and net profit increased by 33.82% between the FY ending on 31st March 2023 and 31st March 2022.
| Period Ended | 31-Mar-23 | 31-Mar-22 |
| Assets | 5,444.34 | 4,568.89 |
| Revenue | 782.54 | 624.79 |
| Profit After Tax | 107.05 | 80 |
Important Details of Kosamattam Finance Limited NCD 2024
| Issue Open | April 8, 2024 - April 23, 2024 |
| Security Name | Kosamattam Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures. |
| Issue Size (Base) | Rs 125 Crores |
| Issue Size (Oversubscription) | Rs 125 Crores |
| Overall Issue Size | Rs 250 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 | A-Stable by India Ratings & Research Private Limited |
| Tenor | 18, 24, 30, 36, 39, 48, 54 and 88 Months |
| Series | Series I to VIII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vistra Itcl India Limited |
Coupon Rates of Kosamattam Finance Limited NCD
| Series 1 | Series 2 | Series 3 | Series 4 | |
| Frequency of Interest Payment | Cumulative | Monthly | Cumulative | Monthly |
| Nature | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 24 Months | 30 Months | 36 Months |
| Coupon (% pa) | - | 8.75% | - | 9.50% |
| Effective Yield (% pa) | 8.52% | 9.11% | 9.00% | 9.92% |
| Amount on Maturity (Rs) | Rs 1,130.50 | Rs 1,000 | Rs 1,240 | Rs 1,000 |
| Series 5 | Series 6 | Series 7 | Series 8 | |
| Frequency of Interest Payment | Cumulative | Monthly | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured |
| Tenor | 39 Months | 48 Months | 54 Months | 88 Months |
| Coupon (% pa) | - | 10.00% | - | |
| Effective Yield (% pa) | 9.42% | 10.47% | 9.43% | 9.91% |
| Amount on Maturity (Rs) | Rs 1,340 | Rs 1,000 | Rs 1,500 | Rs 2,000 |
NCD Rating
The NCDs Issue have been rated A-Stable by India Ratings & Research Private Limited.
Lead Manager of Kosamattam Finance Limited NCD
The lead manager for the Kosamattam Finance Limited NCD is SMC Capitals Limited.
How to Apply for Kosamattam Finance 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 to Check the Allotment Status of Kosamattam Finance Limited NCD?
The Kosamattam Finance Limited NCD 2024 registrar is Kfin Technologies Limited. To check your allotment status, please click here.
FAQs
1. When will the Kosamattam Finance Limited NCD be open for subscription?
Kosamattam Finance Limited NCD issue will open on Monday April 8, 2024 and will close on Tuesday, April 23, 2024.
2. What is the issue size and price of the NCD?
The overall issue size is of Rs 250 crores. The base issue size is 125 crore and for oversubscription issue size remains 125 crore.
3. What are the main objectives of the Kosamattam Finance Limited NCD?
The net amount received from this NCD issue will be used for the purpose of lending. Other than this, money will be utilised for the repayment of principal and interest of existing debts of the company. Also, the remaining funds will be used for fulfilling the general corporate purposes.
4. How has Kosamattam Finance Limited performed financially?
Kosamattam Finance Limited posted a revenue of Rs 782.54 crore and profit after tax of Rs 107.05 crore for the period ending on 31st March 2023. The company’s revenue increased by 25.25% and net profit increased by 33.82% between the FY ending on 31st March 2023 and 31st March 2022.
5. What types of financial services does Kosamattam Finance offer?
Company provides retail and corporate credit, asset management services including mutual fund and alternatives asset management, asset reconstruction. They also provide life insurance and general insurance services.
6. How can I apply for the Kosamattam Finance Limited NCD ?
Wait for the NCD to open for subscription, then click here to apply for the Kosamattam Finance Limited NCD.
7. How can I check the allotment status of the NCD?
The Kosamattam Finance Limited NCD registrar is Kfin Technologies 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, 30, 36, 39, 48, 54 and 88 months, with coupon rates varying from 8.52% to 9.91% from Series 1 to Series 8.
9. Who is the lead manager for the Kosamattam Finance Limited NCD?
SMC Capitals Limited is appointed as the lead manager for this NCD issue.
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