Kosamattam Finance

Kosamattam Finance Limited NCD Details

Kosamattam Finance Limited NCD Period Starts From Mar 19, 2020, To Apr 15, 2020:

To begin with, the Kerala-based Kosamattam Finance Limited has embodied in 1987. So then, it came up as a non-deposit taking NBFC and works as a gold loan provider. Besides, the company has a good reach in the Union Territory of Puducherry, Maharashtra, Delhi, and Andhra Pradesh. It also has its existence in Karnataka, Telangana, Gujarat, Tamil Nadu, and Kerala. 

While the company comes as an RBI registered NBFC and also has a Full-Fledged Money Changers (FFMC) license. However, it also holds a certificate of registration to work as a Depository Participant and Corporate Agent

Significantly, the company puts together itself to introduce a new Non-Convertible Debentures Fund. The fund seems to start on March 19, 2020 and would remain closed by April 15, 2020. 

NCD Details: 

Bid Period  March 19, 2020 – April 15, 2020 
Security Name  Kosamattam Finance Ltd. 
Security Type  Secured, Redeemable, Non- Convertible Debentures (Secured NCDs), and Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs) 
Issue Size (Base)  Rs 150.00 crores 
Issue Size (Shelf)  Rs 300.00 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  IND BBB/Stable 
Tenor  15 Mon/21 Mon/ 39 Mon/ 48 Mon/ 66 Mon/ 84 Months
Series  Series I to Series VIII 
Payment Frequency  Monthly and Cumulative 
Basis of Allotment  First Come First Serve Basis 

The company has planned to raise a base size of Rs 150 crores. So then, the investors need to invest a minimum of 10 bonds. And in multiples of 1 NCD bond. Also, the face value of the scheme remains Rs 1000 per NCD bond. Besides, it provides various interest rates and tenures of 15, 21, 39, 48, 66, and 84 months. However, it comes available in 8 series. 

Kosamattam Finance Ltd. NCD Coupon Rates: 

Series  Frequency  Tenor (in Months)  Coupon Rate  Maturity Amount 
Cumulative  15 NA  Rs 1,120
II  Monthly  21 9.75% Rs 1,000
III  Monthly  39 10% Rs 1,000
IV  Cumulative  39 NA Rs 1,385
Cumulative  48 NA Rs 1,500
VI Cumulative  66 NA Rs 1,750
VII Monthly  84 10.25% Rs 1,000
VIII Cumulative  84 NA Rs 2,000

Also, the NCD proposed to remain issued under “IND BBB” outlook stable, by Indian Ratings and Research Private Limited. Besides, the amount stood up to Rs 35,000 lakhs dated September 30, 2019. 

Disclaimer: This article provides information about the scheme. It does not give any advice or recommendation. Please consult your financial adviser before investing. 

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