Incorporated in 1984 under the brand name JM Financial, JM Financial Products Limited is a Non - Deposit Taking NBFC authorized by RBI. The company is engaged in providing financial services mainly in the area of vehicle leasing and lease syndication. The company offers a gamut of financial services through participation in securities lending, distribution, issuance, and syndication.
Based on customer needs, the company offers secured and unsecured loans. The company principally works in the area of four asset classes which are fixed income division (real estate financing), fixed income division (structured financing), SME financing and capital market financing.
1. FID (structured financing)
It comprises structured lending to companies in different sectors for secured lending, subordinated or mezzanine financing, promoter financing, property collateral, syndication and acquisition financing.
2. FID (real estate financing)
It includes loan against commercial property or residential property or project or land or shares.
3. SME Financing
In this segment, the loan is provided to small and medium enterprises for the project, institutional, and working capital purposes against education institutional and property lending.
4. Capital market financing
In capital market financing, loans are provided for ESOP financing, buy now sell later, arbitrage, margin trade financing, public offer financing, broker financing, and personal purposes.
The company also offers unsecured loan to customers if the creditworthiness of the customer is good and purpose is acceptable. It has also ventured into housing finance business and real estate broking business under the brand name of JMFHL and Dwello, respectively.
The competitive strengths of the company are:
1. Diversified product portfolio
2. Well-positioned in the industry with growing trends
3. Good track record
4. Firm lending book profile
5. Multiple funding sources
6. Strong credit profile
|Issue Open||Apr 22, 2019 - May 21, 2019|
|Security Name||JM Financial Products Limited|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)|
|Issue Size (Base)||Rs 1,000.00 Crores|
|Issue Size (Shelf)||Rs 2,000.00 Crores|
|Issue Price||Rs 1000 per NCD|
|Face Value||Rs 1000 each NCD|
|Minimum Lot size||10 NCD|
|Market Lot||1 NCD|
|Credit Rating||"[ICRA]AA" by ICRA, "CRISIL AA/STABLE" by CRISIL|
|Tenor||24 months/ 36 months/ 60 months|
Series 1 to Series 6
|Payment Frequency||Monthly/ Annual/ Cumulative|
|Basis of Allotment||First Come First Serve Basis|
NCD's allocated in each investor category:
|Category 1 (QIB)||10%|
|Category 2 (NII)||10%|
|Category 3 (HNI)||40%|
|Category 4 (RII)||40%|
|Series 1||Series 2||Series 3||Series 4||Series 5||Series 6|
|Frequency of Interest Payment||Annual||Cumulative||Annual||Cumulative||Monthly||Annual|
|Tenor||24 Months||24 Months||36 Months||36 Months||60 Months||60 Months|
|Coupon Rate (Retail) For Category I & II/ for III & IV||9.90%||NA||10.20%||NA||10.04%||10.50%|
|Amount on Maturity For Category I & II/ for III & IV||₹1,000||₹1,208.11||₹1,000||₹1,338.63||₹1,000||₹1,000|
The NCDs proposed to be issued under this Issue have been rated [ICRA]AA by ICRA for an amount of upto ₹2,000 crores vide its letters dated January 09, 2019 and have been rated "CRISIL AA/STABLE" by CRISIL for an amount upto ₹2,000 crores vide its letter dated January 03, 2019. The rating of the NCDs by ICRA and CRISIL indicates high degree of safety regarding timely servicing of financial obligations.
JM Financial Limited is the promoter of the company.
The Net Proceeds raised through this Issue (in tranches) will be utilized for following activities in the ratio provided
1. For the purpose of onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings of the Company.
2. General Corporate Purposes
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JM Financial Products Limited
7th Floor, Cnergy,
Appasaheb Marathe Marg Prabhadevi
Mumbai, Maharashtra 400 025
Phone: (+91 022) 6630 3030
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