[.]| Listing at BSE | Tue, Nov 20, 2018 - Thu, Dec 20, 2018
JM Financial Credit Solutions Ltd. NCD issue is a public issue of , issued under a Shelf Prospectus of ₹[.] Cr with a base issue size of ₹1,250.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
JM Financial Credit Solutions Ltd. NCD issue opens on Nov 20, 2018 and closes on Dec 20, 2018. NCD are proposed to be listed on BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from per annum to per annum, depending on the series and tenure selected.
A.K.Capital Services Ltd. is the Lead Manager to the issue, is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the [.] for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Tue, Nov 20, 2018
Close Date
Thu, Dec 20, 2018
Issue Size (Overall)
[.]
The promoter of the company is JM Financial Limited.
Incorporated in 1980, JM Financial Credit Solutions Limited is a Systemically Important Non - Deposit-taking Non - Banking Financial Company ('NBFC ND - SI'). The company is part of the JM Financial group and offers integrated financial solutions to real estate developers. It focuses on providing residential project financing at various stages in the life cycle of a project.
JM Financial provides secured and unsecured loans 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.
The company has clients across Mumbai, Pune, NCR, Chennai, Bengaluru, Hyderabad, and Kolkata. For Fiscal 2018, the loan book stood at Rs 73,388.8 million as compared to Rs 56,581.5 million in Fiscal 2017.
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 ICRA AA/Stable by ICRA and IND AA/Stable by India Ratings. The ratings of the NCDs by ICRA and India Ratings indicates a high degree of safety regarding timely servicing of financial obligations.
NCDs have tenure of 42 months, 60 months and 120 months. It offers coupon rates ranging from 10.02% to 10.25% based on the tenure and the interest payment options.
[Dilip Davda] Considering rating and the lucrative coupon rates, investors looking for long term steady income may consider investment
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JM Financial Credit Solutions Ltd.
7th Floor, Cnergy,
Appasaheb Marathe Marg Prabhadevi,
Mumbai 400 025, Maharashtra, India
Mumbai, Maharashtra, 400025
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem JM Financial Credit Solutions Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
