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 ₹ 73,388.8 million as compared to ₹ 56,581.5 million in Fiscal 2017.
The promoter of the company is JM Financial Limited.
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
»» Issue Open: Nov 20, 2018 - Dec 20, 2018
»» Issue Type: Fixed Price Issue NCD
»» Issue Size: NCD's of Rs. 1000
»» Issue Size: Rs. 1,250.00 Crore
»» Face Value: Rs. 1000 Per NCD
»» Issue Price: Rs. 1000 Per NCD
»» Market Lot: 1 NCD
»» Minimum Order Quantity: 10 NCD
»» Listing At: BSE
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.
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Karvy Computershare Private Limited
Karvy Registry House, 8-2-596, St. No. 1,
Banjara Hills, Hyderabad - 500 034
Andhra Pradesh, India
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