KLM Axiva Finvest Ltd NCD Period from 4th June to 25th June 2020:
KLM Axiva Finvest Limited embedded in 1997 in Hyderabad. It is a non-deposit taking and non-systematically important NBFC. The company providing loans for Micro small and medium enterprises loan, gold loan business, and personal loan. The company mainly providing microfinance loans to women customers.
|Bid Period||2nd June to 25th June 2020|
|Security Name||KLM Axiva Finvest Ltd|
|Security Type||Secured, Redeemable, Non-convertible Debentures (Secured NCDs)|
|Issue Size (Base)||Rs 100 Cr|
|Issue Size (Shelf)||Rs 125 Cr|
|Issue Price||Rs 1000 Per NCD|
|Face Value||Rs 1000 Each NCD|
|Minimum Lot Size||5 NCD|
|Market Lot||1 NCD|
|Credit Rating||CARE BB+ / Stable|
|Tenor||400 days, 18 months, 75 months, 2 years, 3 years, 5years|
|Series||Series I to X|
|Payment Frequency||Monthly, Annual and Cumulative|
|Basis of Allotment||First Come First Seve Basis|
KLM Axiva Finvest Ltd has planned to raise a base size of Rs 100 cr. The investor needs to invest a minimum of 5 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 400 days, 18 months, 75 months, 2 years, 3 years, and 5 years. The NCD is available in 10 series.
KLM Axiva Finvest Ltd NCD Coupon Rates:
|Series||Frequency||Tenure||Coupon Rate||Maturity Amount|
|I||Monthly||400 Days||11.00%||Rs 1,000|
|II||Cumulative||400 Days||NA||Rs 1,123|
|III||Cumulative||18 Months||NA||Rs 1,179|
|IV||Monthly||2 Years||11.25%||Rs 1,000|
|V||Yearly||2 Years||11.50%||Rs 1,000|
|VI||Monthly||3 Years||11.50%||Rs 1,000|
|VII||Yearly||3 Years||11.75%||Rs 1,000|
|VIII||Monthly||5 Years||11.75%||Rs 1,000|
|IX||Yearly||5 Years||12.00%||Rs 1,000|
|X||Cumulative||75 Months||NA||Rs 2,000|
The company allotted 1,00,000 NCD’s from that it allotted 100,000 NCD’s for QIB. Similarly, it allotted 400,000 and 500,000 NCDs for NIIs and HNIs respectively.
Also, the NCD proposed to remain issued under “CARE BB+” outlook stable, by the Credit Rating Agency. Besides, the amount stood up to Rs 12,500 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.