JM Financial NCD: JM Financial is issuing its Non-Convertible Debenture (NCD) from 20-Nov-2018 to 20-Dec-2018.
JM Financial is one of India’s leading Non-Banking Financial Companies (NBFCs).
Company Details
The full name of the company is JM Financial Credit Solutions. It was incorporated in May 1980 in Mumbai, Maharashtra with the name FICS Consultancy Services Limited. In May 2015, its name was changed to what it is today. It is a Systemically Important Non-Deposit Taking Non-Banking Financial Company (SI-ND-NBFC).
This company is a wholesale finance NBFC and it provides integrated financial solutions to real estate developers with a focus on residential project financing such as funding real estate developers at various stages in the life cycle of a real estate project. They have commenced lending to real estate developers in 2014 and their clients are located in Mumbai, Pune, Bengaluru, Chennai, Hyderabad, NCR, and Kolkata. For Fiscal 2018, their loan book stood at ₹ 73,388.8 million as compared to ₹ 56,581.5 million as of Fiscal 2017. They are involved in providing secured and unsecured lending to the real estate developers.
Their product portfolio consists of project finance, loans against property, loans against shares, the project at early stage loans and loans against land.
The object of the NCD Issue
The following are the objects of the JM Financial NCD issue:-
- For the purpose of onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings of the Company- At least 75%
- General Corporate Purposes- Maximum up to 25%
JM Financial NCD Issue Details
| Issue Type | Secured Redeemable Non-Convertible Debentures |
| Issue Opens | 20-Nov-2018 |
| Issue Closes | 20-Dec-2018 |
| Coupon/Interest Rate | 10.25% |
| Face Value | Rs 1,000/- per NCD |
| Issue Size | Rs 1,250 Crores |
| Minimum Order | 10 NCD (Rs 10,000/-) |
| Listing | BSE |
Rating of JM Financial NCD Issue
- ICRA: [ICRA] AA/Stable
- India Ratings: IND AA/Stable
Maturity and Redemption
The company is offering a variety of maturity tenures and redemption options depending on the choice of investor. Please go through the prospectus of the company and contact the registered investment advisor for further details.
Company Contact Details
Address: 7th Floor, Cnergy, Appasaheb Marathe Marg Prabhadevi, Mumbai 400025, Maharashtra, India
Telephone: +91-02266303030, Fax: +91-02266303223,
Website: www.jmfinancialcreditsolutions.com,
Email: investorrelations.csl@jmfl.com
Lead Managers
- A. K. Capital Services Limited
- JM Financial Limited
- Edelweiss Financial Services Limited
- Trust Investment Advisors Private Limited
Registrar
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32, Gachibowli Financial District, Nanakramguda, Hyderabad 500032, Telephone: +91-4067162222, Fax: +91-4023431551, Email: jmfs.ncd@karvy.com
Debenture Trustee
IDBI Trusteeship Services Limited
Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai 400001
Telephone: +91-2240807000, Fax: +91-2266311776, Email: itsl@idbitrustee.com
Tags: #debenture #nonconvertible debenture #bond #Investment
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