Sakthi Finance Limited, a well-known financial services company in India that was established in the year 1955, is issuing the NCD (Non-Convertible Debentures). The NCD will be issued from 17th April 2023 to 28th April 2023. Through this issue, the company aims at issuing Rs 200 crores. The company is offering a coupon rate (rate of interest) of up to 10.25% on investments. In this issue, the NCDs will be issued at a price of Rs 1,000 and the minimum order quantity would be 10 NCDs. Let’s delve deeper into the specifics of this NCD issue and explore more details.
About Sakthi Finance Limited
Established in 1955 as a part of the Sakthi Group of companies, Sakthi Finance Limited is primarily involved in the investment and credit business. Its focus lies in financing pre-owned commercial vehicles, as well as providing financial assistance for purchasing machinery, multi-utility vehicles, cars, jeeps, and infrastructure construction equipment. As of December 31, 2022, the company’s Asset Under Management (AUM) stood at ₹1,160.22 crores.
With a presence in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana, and the Union Territory of Puducherry, the company operates through a network of 51 branches. Its customer base primarily consists of Small/Medium Road Transport Operators (SRTOs / MRTOs) from rural and semi-urban areas. As of March 31, 2022, Sakthi Finance has a paid-up capital of ₹15.46 crores.
Sakthi Finance NCD 2023 – Issue Details
| Issue Type | Secured Unsecured Non-Convertible Debentures |
| Issuer Company | Sakthi Finance Limited |
| Issue Opens | 17-Apr-2023 |
| Issue Closes | 28-Apr-2023 |
| Coupon Rate (ROI) | Up to 10.25% |
| Face Value | Rs 1,000 |
| Issue Price | Rs 1,000 |
| Minimum Order Quantity | 10 NCD (Rs 10,000) |
| Issue Size | Base – 100 Cr, Shelf – 200 Cr |
| Listing | BSE |
| Listing Date | Within 6 Working Days of Issue Closing Date |
Sakthi Finance NCD 2023 – Objects of the Issue
Following are the objects of the fresh issue of this Shakthi finance NCD:
- For the purpose of onward lending, financing and for repayment/prepayment of principal and interest of existing borrowings (including redemption of NCDs which would become due for redemption) of the Company.
- For general corporate purposes
Rating of the Sakthi Finance NCD Issue
This NCD issue has been rated BBB (Stable) by ICRA Limited.
Sakthi Finance Limited – Company Contact Details
- Address: 62, Dr Nanjappa Road, Post Box No. 3745, Coimbatore, Tamil Nadu – 641 018
- Telephone: +91-422-2231471-474/4236200
- Website: www.sakthifinance.com
Sakthi Finance NCD 2023 – Lead Manager of the Issue
The lead manager for this upcoming IPO issue is Bonanza Portfolio Ltd.
Sakthi Finance NCD 2023 – Registrar of the Issue
The registrar of this upcoming IPO issue is Link Intime India Pvt Ltd.
Sakthi Finance NCD 2023 – Debenture Trustee
The trustee of this debenture issued by Sakthi Finance Limited is Catalyst Trusteeship Ltd.
Issue Documents
Please click here to read the final issue prospectus for detailed information on Sakthi Finance NCD issue 2023.
