Magma Fincorp Limited, a Kolkata based financial services company is issuing the NCD (Non-Convertible Debentures). The company targets to raise a capital of up to Rs 50,000 lakhs through this issue. Magma Fincorp NCD 2019 opens for investment on 8th April 2019 and closes on 8th May 2019. The non-convertible debentures of face value Rs 1,000 each will be offered to investors during this issue. The company is offering a coupon rate (rate of interest) of up to 10.76% on investment.
About Magma Fincorp Limited
Magma Fincorp Limited is a non-banking finance company which was incorporated in the year 1978 in Kolkata, West Bengal. This company is engaged in providing the asset-backed financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles, mortgage financing, financing to SMEs and distribution of general insurance products. The company has a customer base including first-time buyers of vehicles, self-employed and non-professional individuals, small and medium entrepreneurs and customers with informal income and limited banking and credit history. As on December 31, 2018, they have around 12 lakh active customers, of which approximately 4 lakh active customers were in the financing businesses and approximately 8 lakh active customers in the insurance business.
The company has a widespread branch network of 309 branches spread across 21 States in India through 309 branches. This company is promoted by Celica Developers Private Limited, Microfirm Capital Private Limited, Ashita Poddar, Kalpana Poddar, Mansi Poddar and Shaili Poddar. Click here to read the shelf prospectus of the company for more details about their business including financial and other information.
Magma Fincorp NCD 2019 – Issue Details
| Issue Type | Secured Redeemable Non-Convertible Debentures |
|---|---|
| Issuer Company | Magma Fincorp Limited |
| Issue Opens | 8th April 2019 |
| Issue Closes | 8th May 2019 |
| Coupon Rate (ROI) | Up to 10.76% |
| Face Value | Rs 1,000 |
| Issue Price | Rs 1,000 |
| Minimum Order Quantity | 10 NCD (Rs 10,000) |
| Issue Size | Up to Rs 50,000 Lakhs |
| Listing | BSE |
| Listing Date | Within 6 Working Days of Issue Closing Date |
Magma Fincorp NCD 2019 – Objects of the Issue
The following are the objectives of this upcoming NCD Issue:-
- For the purpose of onward lending, financing, and for repayment/ prepayment of interest and principal of
existing borrowings of our company, and - General corporate purposes.
Rating of the Magma Fincorp NCD Issue
- Brickworks Ratings India Private Limited: BWR AA / (Outlook) Stable
- Acuité Ratings & Research Limited: ACUITE AA / (Outlook) Stable
Magma Fincorp NCD 2019 – Company Contact Details
Registered Address: Magma House, 24 Park Street, Kolkata 700016.
Corporate Address: Equinox Business Park, 2nd Floor, Tower 3, Off BKC, Ambedkar Nagar, LBS Marg, Kurla West, Mumbai 400070.
Telephone.: +91-33-44017350/7200
Website: www.magma.co.in
Magma Fincorp NCD 2019 – Lead Managers to Issue
The following are the lead managers of this upcoming NCD issue:-
Magma Fincorp NCD 2019 – Debenture Trustee
The trustee to Magma Fincorp NCD is Catalyst Trusteeship Limited.
Magma Fincorp NCD 2019 – Registrar to Issue
The registrar of this upcoming NCD issue by Magma Fincorp Limited is Karvy Fintech Private Limited.
Issue Documents
Please read the final issue prospectus for detailed information of Magma NCD issue 2019.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Investment in securities is subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
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Tags: #debenture #nonconvertible debenture #bond #Investment #NCD #Magma Fincorp NCD 2019
