26-Oct-2023
2 mins read
KLM Axiva Finvest Limited 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 75 crore. The company has received a rating of IND BBB-/Stable by India Ratings & Research Private Limited for the NCDs proposed to be issued pursuant to this Issue. The company plans to use the raised funds for existing loan management, corporate purposes, and general operations.
The KLM Axiva Finvest NCD August 2023 issue opens for the subscription on Aug 24, 2023, and closes on Sep 6, 2023.
KLM Axiva Finvest Limited Company Profile
KLM Axiva Finvest Ltd., founded in 1997, is a significant non-banking finance company that focuses on lending to low and middle-income individuals and businesses across various sectors, including gold, MSME, personal, and microfinance loans for women. The company’s assets under management increased from ₹74,730.09 lakhs in 2021 to ₹1,46,032.97 lakhs in 2023.
KLM Axiva Finvest offers diverse financial products, including gold loans, MSME loans, personal loans, microfinance loans for women, and 2-wheeler loans to women. The company operates 684 branches across six states—Kerala, Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Maharashtra—with its corporate office in Kochi as of June 30, 2023.
Financial Performance of KLM Axiva Finvest Limited (In Rs Crore)
| Period Ended | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 823.84 | 1,472.19 | 1,719.30 |
| Revenue | 126.57 | 185.91 | 278.75 |
| Profit After Tax | 7.06 | 11.38 | 18.33 |
Important Dates of KLM Axiva Finvest Ltd
| Issue Open | Aug 24, 2023 – Sep 6, 2023 |
| Security Name | KLM Axiva Finvest Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Shelf) | Not declared yet |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot Size | 5 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | IND BBB-/Stable by India Ratings & Research Private Limited |
| Tenor | 400 days, 16, 18, 82 months, and 2, 3, 5 years |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come, First Serve Basis |
| Debenture Trustee/s | Vistra Itcl India Limited |
KLM Axiva Finvest NCD Allocation Ratio
| Category | NCD’s Allocated |
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
| Category 4 | 0% |
NCD Rating of KLM Axiva Finvest
India Ratings & Research Private Limited has assigned an IND BBB-/Stable rating to the NCDs intended for issuance through this offering by the company.
Promoters of KLM Axiva Finvest
Biji Shibu is the promoter of KLM Axiva Finvest Ltd.
The Objective of KLM Axiva Finvest NCD August 2023
The net proceeds from the issuance are planned to be used by the company for the following purposes:
- Onward lending, financing, and repayment/prepayment of principal and interest on existing borrowings.
- General corporate purposes.
Lead Manager of KLM Axiva Finvest
The Lead manager of KLM Axiva Finvest is Vivro Financial Services Private Limited.
How to Apply for KLM Axiva Finves NCD?
Wait for the NCD to open for subscription, then click on this link to apply for the KLM Axiva Finves NCD with Bigul: https://ncd.bonanzaonline.com/.
FAQ-
- What is KLM Axiva Finvest Limited NCD?
KLM Axiva Finvest Limited is issuing Non-Convertible Debentures (NCDs), which are secured, redeemable, and available in various series with different tenors, coupon rates, and payment frequencies.
- What is the purpose of the NCD issuance?
The company aims to raise funds through the NCD issuance for purposes such as onward lending, financing, repayment/prepayment of existing borrowings, and general corporate purposes.
- What is the credit rating for these NCDs?
The NCDs have been assigned an IND BBB-/Stable rating by India Ratings & Research Private Limited.
- How much is the face value of each NCD?
The face value of each NCD is Rs 1,000.
- What is the subscription period for KLM Axiva Finvest NCDs?
The subscription for the NCDs is open from August 24, 2023, to September 6, 2023.
- Who is the promoter of KLM Axiva Finvest Limited?
Biji Shibu is the promoter of KLM Axiva Finvest Ltd.
- Who is the lead manager for the NCD issuance?
Vivro Financial Services Private Limited is the lead manager for the KLM Axiva Finvest NCD issuance.