18-Apr-2024
2 mins read
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Motilal Oswal Financial Services NCD issue will open on Tuesday April 23, 2024 and will close on Tuesday, May 7, 2024. It is a Secured, Redeemable, Non-Convertible Debentures. The overall issue size is of Rs 1000 crores. The base issue size is 500 crore, and the oversubscription issue size remains 500 crore. Motilal Oswal Financial Services 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 debenture Trustee is Beacon Trusteeship Limited.The listing is at (Bombay Stock Exchange) BSE and the tenor is of 24, 36, 60, 120 months. The lead managers of Motilal Oswal Financial Services Limited NCD are Trust Investment Advisors Private Limited, Motilal Oswal Investment Advisors Limited and Nuvama Wealth Management Limited. The registrar of this IPO issue is Link Intime India Private Limited.
About Motilal Oswal Financial Services Limited
Motilal Oswal Financial Services incorporated in May 2005, is engaged in the stock broking. MOFS is a full service broker in India with the highest gross brokerage revenue as of March 31, 2023. The group offers financial services such as broking, asset management, investment banking, private equity, wealth management and housing finance. MOFS serves as a stock broker and commodities broker for a diverse range of clients including retail customers, mutual funds, FII, HNI, financial institutions and corporate clients. The company provides broking and other related services through three channels. It has a vast network and has a presence in 2500 business locations across more than 550 cities in India. MOFS also provides services through online, digital platforms, including mobile applications. It also had a network of over 8000 Business associates spreaded across the various locations in India. The company has a nationwide presence with offices in 22 states and two union territories. As on March 31, 2024, the company has a team of 11,290 full time employees.
Objectives of Motilal Oswal Financial Services NCD
The net proceeds from this non-convertible debentures issue will be used to meet W.C requirements, repay existing liabilities, and fund general corporate purposes.
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Financial Performance of Motilal Oswal Financial Services (In Rs Crore)
Motilal Oswal Financial Services Limited posted a revenue of Rs 3,181.06 crore and net profit of Rs 1,059.52 crore. The company’s revenue decreased by -2.76% and PAT declined by -28.93% between the financial year ending with 31 March 2023 and 31 March 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 |
| Assets | 29,184.48 | 23,009.94 | 169,323.34 |
| Revenue | 3,181.06 | 4,197.12 | 4,316.41 |
| Profit After Tax | 1,059.52 | 932.82 | 1,312.45 |
Important Details of Motilal Oswal Financial Services Limited NCD 2024
| Issue Open | April 23, 2024 - May 7, 2024 |
| Security Name | Motilal Oswal Financial Services Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures |
| Issue Size (Base) | Rs 500 Crores |
| Issue Size (Oversubscription) | Rs 500 Crores |
| Overall Issue Size | Rs 1,000 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, NSE |
| Credit Rating | CRISIL AA/Stable by CRISIL Ratings Limited |
| Tenor | 24, 36, 60 and 120 months |
| Series | Series I to VIII |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
Coupon Rates of Motilal Oswal Financial Services Limited NCD
| Series 1 | Series 2 | Series 3 | Series 4 | |
| Frequency of Interest Payment | Annual | NA | Annual | NA |
| Nature | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months |
| Coupon (% P.A) | 8.85% | NA | 9.10% | NA |
| Effective Yield (% P.A) | 8.85% | 8.85% | 9.10% | 9.10% |
| Amount on Maturity (In Rs.) | Rs 1,000 | Rs 1,184.85 | Rs 1,000 | Rs 1,298.60 |
| Series 5 | Series 6 | Series 7 | Series 8 | |
| Frequency of Interest Payment | Monthly | Annual | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured |
| Tenor | 60 Months | 60 Months | 120 Months | 120 Months |
| Coupon (% P.A) | 8.97% | 9.35% | 9.30% | 9.70% |
| Effective Yield (% P.A) | 9.35% | 9.35% | 9.70% | 9.70% |
| Amount on Maturity (In Rs.) | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 |
NCD Rating
The NCD has been rated "CRISIL AA/Stable" by CRISIL Ratings Limited.
Lead Manager of Motilal Oswal Financial Services Limited NCD
The lead manager for the Motilal Oswal Financial Services Limited NCD is Trust Investment Advisors Private Limited, Motilal Oswal Investment Advisors Limited and Nuvama Wealth Management Limited.
How to Apply for Motilal Oswal Financial Services 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 Motilal Oswal Financial Services Limited NCD?
The Motilal Oswal Financial Services Limited NCD 2024 registrar is Link Intime India Private Limited. To check your allotment status, please click here.
FAQs
1. When will the Motilal Oswal Financial Services Limited NCD be open for subscription?
Motilal Oswal Financial Services Limited NCD issue will open on Monday April 23, 2024 and will close on May 7, 2024.
2. What is the issue size and price of the NCD?
The overall issue size is of Rs 1000 crores. The base issue size is 500 crore and for oversubscription issue size remains 500 crore.
3. What are the main objectives of the Motilal Oswal Financial Services Limited NCD?
The net proceeds from this non-convertible debentures issue will be used to meet working capital requirements, repay existing liabilities, and fund general corporate purposes.
4. How has Motilal Oswal Financial Services Limited performed financially?
Motilal Oswal Financial Services Limited posted a revenue of Rs 3,181.06 crore and net profit of Rs 1,059.52 crore. The company’s revenue decreased by -2.76% and PAT declined by -28.93% between the financial year ending with 31 March 2023 and 31 March 2022.
5. What types of financial services does Motilal Oswal Financial Services offer?
MOFS offers financial services such as broking, asset management, investment banking, private equity, wealth management and housing finance.
6. How can I apply for the Motilal Oswal Financial Services Limited NCD ?
Wait for the NCD to open for subscription, then click here to apply for the Motilal Oswal Financial Services Limited NCD.
7. How can I check the allotment status of the NCD?
The Motilal Oswal Financial Services Limited NCD registrar is Link Intime India Private 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 24, 24, 36, 36, 60, 60, 120 and 120 months, with coupon rates varying from 8.85% to 9.70% from Series 1 to Series 8.
9. Who is the lead manager for the Motilal Oswal Financial Services Limited NCD?
Trust Investment Advisors Private Limited, Motilal Oswal Investment Advisors Limited and Nuvama Wealth Management Limited are appointed as the lead managers for this NCD issue.
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