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JM Financial Credit Solutions Limited NCD (JM Financial NCD May 2018) Detail

May 28, 2018 - Jun 20, 2018

Incorporated in 1980, JM Financial Credit Solutions Limited is a Systemically Important Non - Deposit taking Non - Banking Financial Company ("NBFC ND - SI") forming part of the JM Financial group. The company is a wholesale finance NBFC and provide 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.

JM commenced lending to real estate developers in 2014 and its clients are located in Mumbai, Pune, Bengaluru, Chennai, Hyderabad, NCR, and Kolkata. For Fiscal 2018, its loan book stood at ₹ 73,388.8 million as compared to ₹ 56,581.5 million as of
Fiscal 2017.

JM Financial provides secured and unsecured lending to the real estate developers. Its product portfolio consists of -

Project finance: This includes offering loans to developers for construction of residential or commercial projects.
Loans against property: This includes loans against the residential or commercial properties with occupation certificate.
Loans against shares: This includes loans to investors against the listed or unlisted shares of corporates;
Project at early stage loans: This is primarily undertaken against projects which are expected to be launched soon; and
Loans against land: This funding is primarily undertaken for land acquisition or against land parcels which are not expected to be launched in the near future. These parcels are mostly without approvals at the time of funding.

JM Financial NCD May 2018 Detail

Issue OpenMay 28, 2018 - Jun 20, 2018
Security NameJM Financial Credit Solutions Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)
Issue Size (Base)Rs 2,000.00 Crores
Issue Size (Shelf)Rs [.] Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot10 NCD
Listing AtBSE
Credit Rating
Payment Frequency
Basis of Allotment

Company Promoters

The promoter of the company is JM Financial Limited.

Objects of the Issue:

The objects of the Issue are-

1. For the purpose of onward lending, financing, and
for repayment /prepayment of interest and
the principal of existing borrowings of the Company
2. General Corporate Purposes


This issue is rated IND AA/Stable by India Ratings. The rating of the NCDs by ICRA and India Ratings indicates high degree of safety regarding timely servicing of financial obligations.


NCDs have tenure of 38 months, 60 months and 120 months. It offers coupon rates ranging from 9.11% to 9.75% based on the tenure and the interest payment options.

Useful Links

JM Financial NCD May 2018 Prospectus

JM Financial NCD May 2018 Rating

Rating:Rated 3.6 stars

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JM Financial NCD May 2018 Reviews

Company Contact Information

JM Financial Credit Solutions Limited
7th Floor, Cnergy,
Appasaheb Marathe Marg Prabhadevi,
Mumbai 400 025, Maharashtra, India

Phone: (+91 022) 6630 3030

JM Financial NCD May 2018 Registrar

Karvy Computershare Private Limited
   Karvy Registry House, 8-2-596, St. No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454

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23. v for vendetta  Jun 7, 2018 18:45 Reply
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
Got 85 Bonds against 200 applied.
23.1. rishikanani  Jul 28, 2018 15:09
Hello sir its safe to invest in this perticuler ncd?
22. rishikanani  Jul 28, 2018 15:06 Reply
Its safe to invest in this perticuler ncd?
Please give me proper reply
21. Sdpp  Jun 10, 2018 21:04 Reply
Listing Date pls Replt
21.1. v for vendetta  Jun 11, 2018 10:02
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
listed on BSE, script code 975JMFCSL28
trading at discounted rate.
21.2. Sdpp  Jun 11, 2018 11:00
Thanks Bhai..
20. AnkurGoel  Jun 7, 2018 16:37 Reply
IPO Mentor IPO Mentor (900+ Posts, 800+ Likes)
Partial allotment. how is it possible when it was on first come first serve basic? Either full allotment or no allotment should happen? Or my bid was the last bid which got the left over bonds.
20.2. AnkurGoel  Jun 8, 2018 17:38
IPO Mentor IPO Mentor (900+ Posts, 800+ Likes)
@AHT, I know it is not lottery. Bonds are allocated in first come first serve basis. Whoso ever submits the bid first will get allotment first. I am not sure why proportionate allotment occurred in this issue.
20.3. CAAnil  Jun 10, 2018 18:22
Allotment on First Come First Served Basis - Subject to the allocation ratio, allotment will be made on a first-come first-served basis, as well as on a date priority basis, i.e. on the date of oversubscription, the allotment will be made on a proportionate basis to all the applicants of that day on which it gets oversubscribed.
19. ashoke mukhopadhyay  Jun 9, 2018 07:58 Reply
We can purchase ncd much lower price from secondary market after listing the ncd in bse from secondary market after listing schedule on 11.06.2018
18. ashoke mukhopadhyay  Jun 7, 2018 17:51 Reply
Since the ncd is over subscribed in day1. I.e 2.19times& allotment was made in pro data basis.
17. ashoke mukhopadhyay  Jun 7, 2018 17:01 Reply
You can now get your allotment of jmfinancial ncd in karvy. ncd allotment portal
16. ashoke mukhopadhyay  Jun 7, 2018 13:50 Reply
unblock the money started for jmfinancial ncd from sbi absa
15. ashoke mukhopadhyay  Jun 6, 2018 14:57 Reply
jm financial ncd allotment by today &unblock the money from absa by 07.06.2018
15.1. v for vendetta  Jun 7, 2018 08:43
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
Money is still blocked.
I applied on 28-May around 12PM, any chance of allotment?
14. ashoke mukhopadhyay  Jun 5, 2018 09:54 Reply
ncd is fully subscribed on 28.05.2016& schedule to list within 9.06.2018( 12days after fully subscribed ) i,e 09.06.2018
Accordingly the money will kept in bank lien to the end of permissible listing time .
jmfinancial ncd should avoid in future.
13. ashoke mukhopadhyay  Jun 5, 2018 08:53 Reply
Dhfl ncd 3allotted /refund from bank absa platform but jm financial ncd is still not unblock the fund against ncd nor refund the money to bsnk a/c for our use.
Jm financial ncd is fully subscribed mainly by retail subscriber but the company is stll not finalise the allotment & this has resulted block retail invrstor money in their saving a/c under lien @ 3.5% interest rate .
Jmfinancial is not reciprocating equally to rrtail investor for delaying allotment schedule &in future we will never invest fund in jmfinancial ncd.
12. ashoke mukhopadhyay  Jun 4, 2018 09:35 Reply
Why unblock the fund is still not startrd from bank a/c .
11. Prashant Chourasiya  Jun 1, 2018 14:14 Reply
Funds has been debited from my account. Can I expect listing gain from this issue?
11.1. Vasant Kaneria  Jun 2, 2018 10:19
in my case Fund is not debited till now on SBI for NCD hold of Rs 2Lakh is there
11.2. PSR  Jun 2, 2018 10:31
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
Response from Category-1 is not so good on account its rating at "AA"

Hence, may not command any significant premium.
10. ashoke mukhopadhyay  May 31, 2018 14:01 Reply
Date of allotment of nsd/ unblocked fund in bank a/c
9. AnkurGoel  May 29, 2018 22:18 Reply
IPO Mentor IPO Mentor (900+ Posts, 800+ Likes)
Issue closed.
8. ashoke mukhopadhyay  May 29, 2018 10:44 Reply
jmfinancial ncd is having six series instead five series &all the series is appended in sbi absa from day1. The ncd is not fully subscribed till date.
8.1. AnkurGoel  May 29, 2018 17:30
IPO Mentor IPO Mentor (900+ Posts, 800+ Likes)
Then go and apply for it if not subscribed.
7. Minaxi  May 28, 2018 12:37 Reply
in sbi asba...5 series given to apply...which series i have to choose for apply ...let me know...
7.1. AnkurGoel  May 28, 2018 17:21
IPO Mentor IPO Mentor (900+ Posts, 800+ Likes)
It depends which series you wish to invest.
Series 1 - 38 months - annual payout;
Series 2 - 38 months - payout at maturity;
Series 3- 60 months - annual payout;
series 4 - 60 months - monthly payout;
series 5 - 120 months - annual payout.
7.2. ashoke mukhopadhyay  May 29, 2018 10:45
series 6
6. kenil  May 28, 2018 17:57 Reply
Oversubscribed on day 1 , so fifo type now less chance. Avoid it now
5. AnkurGoel  May 28, 2018 17:23 Reply
IPO Mentor IPO Mentor (900+ Posts, 800+ Likes)
Retails oversubscribed. So no need to apply now. You will get refund as allotment is first come first serve.
4. Venkata DoraBabu  May 27, 2018 12:08 Reply
Can NRIs apply for this issue?
4.1. kenil  May 28, 2018 15:36

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