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NCD Status: Closed [24th Jan 2022 to 14th Feb 2022]
InCred Financial Services NCD of Rs. 150 Cr issue size opens for subscription from 24 Jan to 14 Feb 2022. The company issues series I to III secured and redeemable NCD at an issue size of Rs. 1000 per NCD. One can subscribe to the NCD with a minimum ticket size of Rs. 10,000 (10 NCDs). The NCD tenor is 12 months and 24 months with a coupon rate ranging 8%-9% per annum. Check more about InCred Financial Services NCD January 2022 including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
NCD Opening Date: | 24th Jan 2022 |
NCD Closing Date: | 14th Feb 2022 |
NCD Type: | Secured NCD |
Issue Size (Base): | Rs. 125 Cr |
Issue Size (Shelf): | Rs. 25 Cr |
Face Value: | Rs 1000 each NCD |
Issue Price: | Rs 1000 per NCD |
Market Lot: | 1 NCD |
Min Order Qty: | 10 NCD |
Min Order Amount: | Rs 10,000 |
Listing at: | BSE, NSE |
Tenor: | 12 months and 1 day/24 months |
Rating: | CRISIL A |
Series: | Series I to Series III |
Payment Frequency: | Annual and Cumulative |
Basis of Allotment: | First Come First Serve Basis |
Interest on return: |
Zerodha Trade@20
NCD Activity | Date |
---|---|
NCD Issue Open | 24th Jan 2022 |
NCD Issue Close | 14th Feb 2022 |
Allotment Date* | 18th Feb 2022 |
NSE Code: | INCRED |
* - Tentative Dates
Category Name | NCD's Allocated |
---|---|
Institutional | 5% |
Non-Institutional | 20% |
HNI | 5% |
Retail | 70% |
InCred Financial Services is RBI registered non-deposit taking NBFC. The company is engaged in the business of offering personal loan, MSME loans, education loans, and providing related services. As on March 31, 2021, it has a total portfolio of loans worth Rs. 2,633.66 Cr (50% secured loans) that cater to a 340,264 customer base.
Competitive strengths
Muthoot Fincorp Financials (₹ in Cr) | 31-Mar-2021 | 31-Mar-2020 | 31-Mar-2019 |
---|---|---|---|
Total Assets | ₹2,804.53 | ₹2,232.10 | ₹1,918.45 |
Total Income | ₹392.48 | ₹332.67 | ₹326.97 |
Net Profit/Loss | ₹2.17 | ₹5.16 | ₹27.72 |
The company aims to raise funds from the issue of secured NCD for the following objectives;
Options | Series 1 | Series II | Series III |
---|---|---|---|
Frequency of Interest Payment | Cumulative | Annually | Annually |
Tenor | 12 months and 1 day | 24 Months | 24 Months |
Coupon Rate % Per Annum for NCD in Category I, II, III & IV� | NA | 9.25% per annum compounded monthly payable annually | 9.13% per annum compounded monthly payable annually |
Effective Yield (per annum) for NCD in Category I, II, III & IV | 9.25% | 9.65% | 9.52% |
Amount on Maturity for NCD Holders in Category I, II, III & IV | ₹1,092.75 | ₹1000 | ₹1000 |
Maturity / Redemption Date (Months from the Deemed Date of Allotment) | 12 months and 1 day | 24 months | 50% of the face value of NCD will be redeemed on the date occurring on expiry of 12 months from the Deemed Date of Allotment and remaining 50% will be redeemed on the date occurring on expiry of 24 months from the Deemed Date of Allotment |
Put and Call Option | NA | NA | NA |
Mr. Bhupinder Singh and Bee Finance Limited, Mauritius are the company promoters.
The issue has received "CRISIL A" rating to the debt instrument of the company with stance under "Rating watch with positive implication. An instrument with such rating is assumed to have an adequate level of safety regarding timely financial obligations payment.
Last Updated on 2022-11-15T15:26:57+00:00