NCD Issue -Kosamattam Finance (KFL) Oct 2014
Kosamattam Finance Ltd NCD Issue open from 30 Sep 2014 & Issue close date 29 Oct 2014. Issue size of Rs. 100 Cr. With an option to retain over- Subscription upto Rs. 100 Cr., aggregating to a total up to Rs. 200 Cr. Secure & Unsecure Option available.
Avoid 66 Month option (Unsecured Category Option)
Allotment -First Come First Serve Basis . Issue Closing Date depend upon subscription if issue subscribe early then issue close 1day short notice Otherwise Last date of Issue Close 29 Oct 2014.
Note : All Debt Issue applications must be bidded before getting submitted with the collection bankers. Kindly ensure to Bid application before Banking.[wptabs mode=”horizontal”] [wptabs mode=”horizontal” background=”false”] [wptabtitle] Product Note[/wptabtitle] [wptabcontent]Issue Highlight –
|Issuer||Kosamattam Finance Ltd -|
|Type of Instrument||Secured, NCD|
|Issue Open||30 Sep 2014|
|Issue Close||29 Oct 2014 (with option of early closure or extension)|
|Issue Size||100 Cr. with an option to retain oversubscription of 100 Cr. Total 200 Cr|
|Face Value||Rs. 1,000|
|Min. Application Size||10 Bonds (Rs.10000) & multiply of 1 NCD thereafter (across all series NCD)|
|Interest||Annually, Various Option|
|Mode of Allotment||D'mat as well as Physical Form|
|Rating||CARE - "BBB-" (TRIPLE B MINUS)|
|Listing||Proposed on BSE|
|Interest on Application on Amount Allotted||11.00%|
|Interest on Application on Amount to be refunded||4.00%|
Issue Structure -Interest Rate Details for Retail Investor –
|Tenor||18 M||18 M||36 M||36 M||39 M||66 M||66 M|
|Coupon Rate- Cat I,II, III||11.75%||NA||12.25%||NA-||NA||13.00%||NA|
|Coupon for Senior Citizen||12.25%||NA||12.75%||NA||NA||13.00%||NA|
|Maturity||1000+ accrued Interest||1189.27||1000+ accrued Interest||1433.34||1500||1000+ accrued Interest||2000|
|Maturity - Sr. Citizen||1000+ accrued Interest||1197.22||1000+ accrued Interest||1452.49||1500||1000+ accrued Interest||2000|
|Effective Yield- Sr.Citizen||12.96%||12.75%||13.52%||13.25%||13.29%||13.80%||13.43%|
Retail Investor : ” Kosamattam Finance Ltd – NCD Escrow Account “
Note : Application will be rejected if banked without uploading in the electronic system of the recognized stock exchange. (Bidding process)
Who can not Apply
- Minors without a guardian name
- Individuals or entities that are not resident in India and
- Person ineligible to contract under applicable statutory / regulatory requirement
Source : KFL Prospectus Dated ………………[/wptabcontent] [wptabtitle] About Issue[/wptabtitle] [wptabcontent]About the Issuer
Kosamattam Finance Ltd, headquartered in the southern Indian state of Kerala, is a NBFC lending money against pledge of used household gold jewellery “Gold Loans” in the state of Kerala, TamilNadu, Karnataka Andra Pradesh, Delhi and in the Union Territory of Poducherry.
The Kosamattam group was originally founded by Mr. Chacko Varkey. His grandson, Mr. Mathew K. Cherian, the present Chairman and managing director of Kosamattam Group is a fourth generation entrepreneur in the family.
As on Aug 30 2014, KFL is having a branch network of 848 branches largely spread across southern India. Their average gold loan amount outstanding was Rs.26,361 per loan account as of Mar 31 2014.
In addition to the core business of Gold loan, they also offer fee based ancillary services which includes money transfer service, foreign currency exchange and air ticketing services.
- Part of Kosamattam group which has a long operating history and good large customer base.
- Branch network across rural and semi-urban areas in South India.
- Experience manangement team
- Effective risk management system include appraisal , internal audit and inspections.
[/wptabcontent] [wptabtitle] Subscription[/wptabtitle] [wptabcontent]
Kosamattam Finance Ltd NCD Allotment Listing Details with ISIN No , Script Code, Interest Payment Date etc.