25-Jun-2024
2 mins read
Sakthi Finance Limited NCD issue is open on Thursday, June 20, 2024 and will close on Wednesday, July 3, 2024. It is a Secured, Redeemable, Non-Convertible Debenture. The base issue size is 75 crore, and the oversubscription issue size remains 75 crore. Sakthi Finance NCD issue price is Rs 1000 per NCD, and the face value is Rs 1000 for each NCD. The minimum lot size is 10 NCD. The basis of allotment is first come and first serve basis. The debenture Trustee is Catalyst Trusteeship Limited. The listing is at BSE, the tenor is of 24, 36, 60, 85 months. The lead managers of Sakthi Finance Limited NCD is Bonanza Portfolio Limited. The registrar of this IPO issue is Link Intime India Private Limited.
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About Sakthi Finance Limited
Sakthi Finance Limited, founded in 1955, is a part of Sakthi Group based in South India. Sakthi Finance is an investment and lending company specialized in financing used commercial vehicles. Sakthi also offers financing for purchasing machinery, cars, jeeps, and multi-purpose vehicles for infrastructure construction. A lien on the financed assets secures the financing provided. Sakthi has a network of 54 branches in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana, and the Union Territory of Puducherry. Currently, Sakthi Finance has 17 wind power plants with a total capacity of 5,150 kW in the states of Tamil Nadu and Gujarat. As of December 31, 2023 the company’s AUM is of 1,22,168.76 lakhs.
Objectives of Sakthi Finance Limited
The company intends to utilize the net profit for lending, financing, and repayment of principal and interest on its existing borrowings. Additionally, the general corporate purposes will also be fulfilled.
Financial Performance of Sakthi Finance (In Rs Crore)
Sakthi Finance Limited posted a revenue of Rs 152.59 crore and net profit of Rs 11.52 crore for the period ended on 31 December 2023. The revenue increased by 5.84% and PAT increased by 31.25% between the FY ending on 31 March 2023 and 31 March 2022.
|
Period Ended |
31 Dec 2023 |
31 Mar 2023 |
31 Mar 2022 |
31 Mar 2021 |
|
Assets |
1,381.26 |
1,300.58 |
1,269.43 |
1,240.43 |
|
Revenue |
152.59 |
191.94 |
181.35 |
171.34 |
|
Profit After Tax |
11.52 |
12.49 |
9.52 |
9.26 |
|
Net Worth |
185.21 |
179.27 |
170.95 |
164.89 |
Important Details of Sakthi Finance Limited NCD 2024
|
Issue Open |
June 20, 2024 - July 3, 2024 |
|
Security Name |
Sakthi Finance Limited |
|
Security Type |
Secured, Redeemable, Non-Convertible Debentures |
|
Issue Size (Base) |
Rs 75 Crores |
|
Issue Size (Oversubs) |
Rs 75 Crores |
|
Overall Issue Size |
Rs 150.00 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 |
BBB Stable by ICRA Limited. |
|
Tenor |
24, 36, 60 and 85 months |
|
Series |
Series I to VII |
|
Payment |
Monthly and Cumulative |
|
Allotment |
First Come First Serve Basis |
|
Trustee/s |
Catalyst Trusteeship Limited |
Coupon Rates of Sakthi Finance Limited NCD
|
Series 1 |
Series 2 |
Series 3 |
Series 4 |
Series 5 |
Series 6 |
Series 7 |
|
|
Tenor ( in Months) |
24 |
24 |
36 |
36 |
60 |
60 |
85 |
|
Coupon P.a%) |
9.00% |
- |
9.25% |
- |
10.25% |
- |
- |
|
Effective Yield (P.a%) |
9.00% |
9.31% |
9.25% |
9.58% |
10.25% |
10.65% |
10.38% |
|
Amount on Maturity (In Rs.) |
Rs 1,000 |
Rs 1,194.83 |
Rs 1,000 |
Rs 1,315.66 |
Rs 1,000 |
Rs 1,658.72 |
Rs 2,013.13 |
NCD Rating
Sakthi Finance NCD is rated BBB Stable by ICRA Limited.
NCD Allocation Ratio
Institutional 5%, Non-institutional 15%, HNI 40% and Retail 40%.
Lead Manager of Sakthi Finance Limited NCD
The lead manager for the Sakthi Finance Limited NCD is Bonanza Portfolio Limited.
How to Apply for Sakthi 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 do you check the allotment status of Sakthi Finance Limited NCD?
The Sakthi Finance Limited NCD registrar is Link Intime India Private Limited. To check your allotment status, please click here.
FAQs
1. When will the Sakthi Finance Limited NCD be open for subscription?
Sakthi Finance Limited NCD issue is open on Thursday, June 20, 2024 and will close on Wednesday, July 3, 2024.
2. What is the issue size and price of the NCD?
The base issue size is 75 crore and for oversubscription issue size remains 75 crore.
3. What are the main objectives of the Sakthi Finance Limited NCD?
The company intends to utilize the net profit for lending, financing, and repayment of principal and interest on its existing borrowings. Additionally, the general corporate purposes will also be fulfilled.
4. How has Sakthi Finance Limited performed financially?
Sakthi Finance Limited posted a revenue of Rs 152.59 crore and net profit of Rs 11.52 crore for the period ended on 31 December 2023. The revenue increased by 5.84% and PAT increased by 31.25% between the FY ending on 31 March 2023 and 31 March 2022.
5. What types of financial services does Sakthi Finance offer?
Sakthi Finance Limited offers financing for the purchase of machinery, cars, jeeps, and multi-purpose vehicles for infrastructure construction.
6. How can I apply for the Sakthi Finance Limited NCD ?
Wait for the NCD to open for subscription, then click here to apply for the Sakthi Finance Limited NCD.
7. How can I check the allotment status of the NCD?
The Sakthi Finance 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 24, 36, 60, 85 months with coupon rates varying from 9.00% to 10.38% from Series 1 to Series 7.
9. Who is the lead manager for the Sakthi Finance Limited NCD?
Bonanza Portfolio Limited are the lead managers for the Sakthi Finance Limited NCD.
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