JM Financial Products Limited NCD (JM Financial NCD Sep 2021) Detail

Sep 23, 2021 - Oct 1, 2021
JM Financial Products Limited Logo

Incorporated in 1984, JM Financial Products Limited is a Non-Deposit accepting NBFC authorized by RBI. The company is a 99.45% subsidiary of JM Financial Ltd. The company offers a broad suite of customized loan products suited according to the needs of corporates, institutions, SMEs, and individuals. The company operates in the given verticals:

Bespoke Financing: This vertical caters to corporates and includes all types of bespoke lending to companies across various sectors, promoter financing against listed / unlisted securities and property collateral, acquisition financing, subordinated or mezzanine financing, other secured lendings, and syndication.

Real Estate Financing: It includes loan against land, project at early stage, project funding, loan against ready residential / commercial property and loan against shares.

Retail mortgage financing: It includes loan against land, project at early stage, project funding, loan against ready residential / commercial property and loan against shares.

Financial institution financing: Under this segment the company offers loans to RBI registered financial institutions (NBFCs, MFIs, etc) against the receivables in their loan book. The funds shall be used for onward lending to their customers, working capital requirements, refinancing, and/or any other purpose as acceptable to the Company.

The company has also ventured into the housing finance business and real estate broking business under the brand name of JMFHL and Dwello, respectively.

Should you subscribe to JM Financial Products Ltd Secured NCD?

Competitive strengths of the company

  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.

JM Financial NCD Sep 2021 Detail

Issue Open Sep 23, 2021 - Oct 1, 2021
Security Name JM Financial Products Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 100.00 Crores
Issue Size (Shelf) Rs 400.00 Crores
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 1 NCD
Listing At BSE
Credit Rating ICRA AA/Stable and CRISIL AA/Stable
Tenor 39, 60 and 100 months

Series I to Series IV

Payment Frequency Annual and Monthly
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 15%
Non-Institutional 15%
HNI 30%
Retail 40%

NCD's Offered by Category

Category ? NCD's Reserved
Institutional 150,000
Non-Institutional 150,000
HNI 300,000
Retail 400,000
Total NCD's 1,000,000

Coupon rates for series 1 to 4

Series 1 Series 2 Series 3 Series 4
Frequency of Interest Payment Annual Annual Monthly Annual
Nature Secured
Tenor 39 months 60 months 60 months 100 months
Coupon Rate 91-day T-bill* + 315 bps spread 8.20% 7.91% 8.30%
Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000

NCD Rating

The issue has been rated [ICRA]AA/Stable by ICRA and CRISIL AA/STABLE by CRISIL

Company Promoters

JM Financial Limited is the promoter of the company.

Company Financials

Summary of Standalone financial Information
Particulars For the year/period ended (₹ in Crores)
31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 5,604 5,478 6,155
Total Revenue 661 840 934
Profit After Tax 138 160 204

Objects of the Issue

The following objects of the Issue and the amount proposed to be financed from the Net Proceeds:

  1. At least 75% for the purpose of onward lending, financing, and for repayment / prepayment of interest and principal of the borrowings of the company
  2. Maximum of up to 25% for General Corporate Purposes


Should you subscribe to JM Financial Products Ltd Secured NCD?

JM Financial NCD Sep 2021 Prospectus

JM Financial NCD Sep 2021 Subscription Status

The JM Financial NCD Sep 2021 was subscribed 5.04 times on Oct 1, 2021 12:59:00 PM. The NCD subscribed 2.06 times in Retail, 9.69 times in HNI, 0.39 times in Non-Institutional, and 8.33 times in the Institutional category.

Category ?Subscription (times)

Check Day by Day Bidding Details

JM Financial NCD Sep 2021 Rating

Rating:Rated 2.7 stars
Vote Here ...

JM Financial NCD Sep 2021 Reviews

Company Contact Information

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

Phone: (+91 22) 6630 3030
Email: investorrelations.products@jmfl.com
Website: https://jmfinancialproducts.com/

JM Financial NCD Sep 2021 Registrar

Kfin Technologies Limited
   KFintech, Tower-B, Plot No 31 & 32,
   Financial District, Nanakramguda, Gachibowli,
   Hyderabad, Telangana India - 500 032.

Phone: 04067162222, 04079611000
Email: jmfpl.ncdipo@kfintech.com
Website: https://karisma.kfintech.com/

JM Financial NCD Sep 2021 Lead Manager(s)


1. Jaspreet Singh Oberoi     Link|Oct 1, 2021 1:42:45 PM
Due to over-subscription, this NCD offer is closing today.

Compare NCDs with JM Financial NCD Sep 2021