26-Oct-2023
2 mins read
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Vivriti Capital Ltd, an RBI-registered non-deposit accepting systemically crucial NBFC, has declared its intention to float a public offering of secured NCDs with a face value of Rs 1,000 each. They aim to raise a sum of Rs 250 crore but could potentially accommodate oversubscriptions, pushing the overall collection to Rs 500 crore. This offering will be available to the public between August 18 and August 31, although it could close ahead of schedule.
Vineet Sukumar, the MD and Founder of Vivriti Capital Ltd., expressed his enthusiasm about this first-time public NCD offering, highlighting it as a pivotal moment in their growth trajectory. He proudly noted the company’s management of a Rs 5,835.80 crore portfolio, financial aid to nearly 194 mid-scale businesses across diverse industries, and track record of sustaining good asset health while expanding their lending operations.
The firm plans to allocate a minimum of 75% of the net proceeds from this offering for lending purposes, refinancing, and clearing existing debt obligations. The remaining amount, up to 25%, will be used to cover miscellaneous operational expenses.
Vivriti Capital Limited Product Portfolio
Founded in 2017, Vivriti Capital Limited offers financial solutions to mid-sized businesses throughout India. The firm has earned its registration with the RBI as a non-deposit-accepting, systemically vital NBFC (NBFC-NDSI).
Vivriti Capital extends a variety of financial services. This includes term loans, working capital loans, collaborative lending with financial affiliates, securitizing receivables, assigning receivables directly, providing supply chain financing, and investing in bonds and commercial papers. Particularly noteworthy is their inclination to support entities that find it challenging to obtain conventional bank financing due to their location in urban or semi-urban regions or lack of favourable ratings.
The company’s diverse customer base spans sectors such as healthcare, pharmaceuticals, logistics, retail, trading, steel, automotive, manufacturing, financial services, and fast-moving consumer goods. By March 31, 2023, Vivriti’s outstanding loan assets amounted to Rs 450,873.24 lakhs, while its investments in bonds, securitizations, and commercial papers stood at Rs 132,706.77 lakhs.
As of the same date in 2023, Vivriti reported Assets Under Management (AUM) worth Rs 583,580.01 lakhs, a significant increase from the Rs 381,686.09 lakhs in 2022. Their expansive reach covers 194 mid-sized corporates and a robust 13.21 lakh borrowers or clients. Their co-lending initiatives and supply chain financing encompass 24 key anchors, catering to 183 diverse MSME and non-MSME entities.
Regarding their credit reputation, ICRA Limited rated Vivriti Capital at A with a stable outlook, and CARE Ratings offered an A with a positive perspective, both as of March 31, 2023. The company’s presence extends across various Indian states, with offices in Tamil Nadu, Maharashtra, Karnataka, Rajasthan, and Delhi.
Financial Performance of Vivriti Capital Limited (In Rs Crore)
| Period Ended | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 1,468.10 | 2,213.35 | 6,797.59 | 8,457.42 |
| Revenue | 148.85 | 245.67 | 2,417.28 | 703.59 |
| Profit After Tax | 9.63 | 14.42 | 1,579.09 | 134.89 |
Important Dates for Vivriti Capital Limited NCD
| Issue Open | Aug 18, 2023 – Aug 31, 2023 |
| Security Name | Vivriti Capital Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 250 Crores |
| Issue Size (Shelf) | Yet to be announced |
| 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 | ICRA A (Stable) by ICRA Limited and CARE A+ by CARE Ratings Limited |
| Tenor | 18 and 24 Months |
| Series | Series I to V |
| Payment Frequency | Monthly, Quarterly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
Coupon rates for Vivriti Capital Limited NCD
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 |
| Frequency of Interest Payment | Monthly | Annual | Quarterly | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 18 Months | 24 Months | 24 Months | 24 Months |
| Coupon (% per Annum) | 9.57% | 10.00% | 9.65% | 10.03% | 10.50% |
| Effective Yield (% per Annum) | 9.98% | 10.06% | 9.98% | 10.49% | 10.48% |
| Amount on Maturity (In Rs) | Rs 1,000 | Rs 1,000 | NA | Rs 1,000 | Rs 1,000 |
NCD Allocation Ratio for Vivriti Capital Limited NCD
| Category | NCD’s Allocated |
| Institutional | 20% |
| Non-Institutional | 20% |
| HNI | 30% |
| Retail | 30% |
NCD Rating of Vivriti Capital Limited
For the NCDs slated for issuance in this offering, the company has been awarded an ICRA A (Stable) rating by ICRA Limited and a CARE A+ rating by CARE Ratings Limited.
Company Promoters of Vivriti Capital Limited NCD
The promoters of the company are Vineet Sukumar and Gaurav Kumar.
The Objective of the Vivriti Capital Limited NCD
The company plans to allocate the net gains from the offering for specific purposes. These include facilitating further loans, financing, and settling interest and principal amounts of its current debts. Additionally, a portion of the proceeds will be directed towards fulfilling general business-related needs and activities.
Lead Managers for Vivriti Capital Limited NCD
The lead manager for Vivriti Capital Limited NCD is Jm Financial Limited.
How to Apply for Vivriti Capital Limited NCD
Wait for the NCD to open for subscription, then click on this link to apply for the Vivriti Capital Limited NCD with Bigul https://ncd.bonanzaonline.com/.
How to Check the Allotment Status of Vivriti Capital Limited NCD
The Vivriti Capital Limited NCD registrar is Integrated Registry Management Services Private Limited. To check your allotment status, please click on this link https://karisma.kfintech.com/
FAQs
- What is Vivriti Capital Limited NCD?
It is a public offering of secured Non-Convertible Debentures (NCDs) by Vivriti Capital Limited, aiming to raise funds for the company.
- When is the NCD available for subscription?
The NCD will be available for subscription from August 18, 2023, to August 31, 2023, but may close earlier based on the response.
- What is the credit rating of this NCD?
The NCD has received an ICRA A (Stable) rating from ICRA Limited and a CARE A+ rating from CARE Ratings Limited.
- What are the intended uses for the proceeds from this NCD?
Vivriti Capital plans to use the proceeds mainly for lending, financing, repaying existing debts, and general corporate purposes.
- Who are the promoters of Vivriti Capital Limited?
The company is promoted by Vineet Sukumar and Gaurav Kumar.
- What is the face value and issue price of the NCD?
Both the face value and the issue price of the NCD are Rs 1,000 each.
- Where will the NCD be listed?
The NCD will be listed on BSE.
- Who is the lead manager for this NCD offering?
Jm Financial Limited serves as the lead manager for this NCD.
- How can I apply for Vivriti Capital Limited NCD?
Once the NCD opens for subscription, you can apply via this link: https://ncd.bonanzaonline.com/.
- How can I check my allotment status for Vivriti Capital Limited NCD?
The allotment status can be checked through the registrar, Integrated Registry Management Services Private Limited, by visiting this link: https://karisma.kfintech.com/.
- Are there different series and interest rates for this NCD?
Yes, the NCD is offered in five different series with varying tenors and interest payment frequencies, each with its annual yield and coupon rate.
- Who can invest in this NCD?
The NCD allocation ratio specifies that institutions, non-institutions, high net-worth individuals (HNI), and retail investors can invest, with each category having a specified percentage allocation.
- Where is Vivriti Capital Limited based?
The company has a presence across various Indian states, including Tamil Nadu, Maharashtra, Karnataka, Rajasthan, and Delhi.