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 |
| I | 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 |
| V | 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.