Kerala based Kosamattam Finance Ltd is a systemically important, non-deposit taking NBFC registered with RBI. The company is engaged in the Gold loan business wherein it offers loans against pledged gold jewellery. Besides Gold Loan, it also offers other fee-based ancillary services like microfinance, foreign currency exchange, money transfer services, power generation, agriculture and air ticketing services.
Kosamattam Finance is part of Kosamattam Group and is headquartered in Kottayam, Kerala. Its areas of operation include states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Delhi, Gujarat, Maharashtra along with the Union Territory of Puducherry. It has a network of 948 branches and employs 3,299 persons.
The company's Gold Loan portfolio for the six-month period ended September 30, 2018 and for the financial years
2018, 2017 and 2016 aggregated to Rs 2,12,136.39 lakhs, Rs 2,05,050.99 lakhs, Rs 1,73,040.27 lakhs and
Rs 1,31,224.42 lakhs, comprising 91.79%, 91.56%, 90.03% and 89.12% of its total loans portfolio.
The total income for the six-month period ended September 30, 2018 and for the financial years 2018, 2017, 2016, 2015 and 2014 was Rs 22,039.14 lakhs, Rs 43,060.86 lakhs, Rs 35,225.23 lakhs, Rs 34,569.97 lakhs, Rs 25,754.43 lakhs and Rs 26,186.8 lakhs, respectively. The profit for the same periods were Rs 1,092.60 lakhs, Rs 3,081.61 lakhs, Rs 1,568.28 lakhs, Rs 1,122.88 lakhs, Rs 528.15 lakhs and Rs 2,644.64 lakhs respectively.
|Issue Open||Dec 27, 2018 - Jan 25, 2019|
|Security Name||Kosamattam Finance Limited|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)|
|Issue Size (Base)||Rs 300.00 Crores|
|Issue Size (Shelf)||Rs [.] Crores|
|Issue Price||Rs 1000 per NCD|
|Face Value||Rs 1000 each NCD|
|Minimum Lot size||10 NCD|
|Market Lot||1 NCD|
|Basis of Allotment|
|High Net Worth Individual Investors Portion|
|Retail Individual Investors Portion|
The promoters of the company are Mathew K. Cherian, Laila Mathew and Jilu Saju Varghese.
The object of the issue is-
1. Raise Funds for the purpose of onward lending and for repayment of interest and principal of existing loans;
2. General Corporate Purposes
These NCD issue is graded "IND BBB-" by India Rating & Research Pvt Ltd(indicating that instruments with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.
The company offers coupon rates ranging from 9.50% to 10.25% depending on the tenures and the mode of interest payments which is either Monthly or Yearly cumulative as per the choice of investors.
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