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.
|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|
|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.