Sakthi Finance Limited

Sakthi Finance Limited NCD Details

Sakthi Finance Limited NCD period from March 13 to April 9, 2020: 

The Sakthi Finance Limited incorporated in 1955. It was an RBI registered deposit-taking NBFC and also involved in the vehicle financing sector. The company involved in the transport business such as dairy, auto components, co-generation, industrial alcohol, sugar, automobile distribution. The company introduced a new Non-Convertible Debentures fund. The NCD period started on 13th Mar and it will end on 9th Apr 2020.

NCD Details:

Bid Period March 13 to April 9, 2020
Security Name Sakthi Finance Ltd
Security Type Secured, Redeemable, Non-Convertible Debentures and Unsecured Subordinated Non-Convertible Debentures
Issue Size (Base) Rs 100 Cr
Issue Size (Shelf) Rs 200 Cr
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 BBB/ Stable
Tenor 24, 39, 49, 62 months
Series Series I to XI
Payment Frequency Annual, Cumulative and Monthly

Sakthi Finance Ltd has planned to raise a base size of Rs 100 cr. The investor needs to invest a minimum of 10 bonds and in multiples of 1 NCD bond. The Face value of the scheme is Rs 1000 per NCD bond. It offers different interest rates and tenures of 24 months, 39 months, 49 months, and 62 months. The NCD is available in 11 series.

Sakthi Finance Limited NCD Coupon Rates:

Series  Frequency Tenor Coupon Rate Maturity Amount
I Monthly 24 Months 9.50% Rs 1,000
II Cumulative 24 Months NA Rs 1,207
III Monthly 39 Months 9.75% Rs 1,000
IV Annually 39 Months 9.75% Rs 1,000
V Cumulative 39 Months NA Rs 1,368
VI Monthly 49 Months 10% Rs 1,000
VII Annually 49 Months 10% Rs 1,000
VIII Cumulative 49 Months NA Rs 1,497
IX Monthly 62 Months 10.25% Rs 1,000
X Annually 62 Months 10.25% Rs 1,000
XI Cumulative 62 Months NA Rs 1,687

The allotted each of 50,000 NCD’s for QIBs and NIIs, similarly, 900,000 NCD’s for HNIswith total NCD’s of 1,000,000. The ICRA Rating Agency rated as BBB / Stable. It will be listed on the Bombay Stock Exchange (BSE). 

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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