Incorporated in 1992, Thrissur based Manappuram Finance Ltd., is one of the major NBFC companies in the gold finance business in India.
The company provides loans against gold jewelry and provide short-term personal and business gold loans to retail customers. The other business verticals include Vehicle and Equipment Finance Business, Payments business, SME business and fee-based services including forex and money transfer. Further, the company has also expanded into microfinance business and insurance broking through its Subsidiary MAIBRO.
The Gold Loans portfolio of the company as of March 31, 2018, comprised approximately 2.25 million customers aggregating Rs 117,349.82 million and accounting for 76.21% of the total loans.
Mannapuram Finance has a network of 3,331 branches spread across 28 states and union territories of India.
|Issue Open||Oct 24, 2018 - Nov 22, 2018|
|Security Name||Manappuram Finance Limited|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)|
|Issue Size (Base)||Rs 1,000.00 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 V. P. Nandakumar and Sushama Nandakumar.
The objects of the Issue are-
1. For the purpose of onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings of the Company- at least 75%
2. General Corporate Purposes- Maximum of up to 25%
The Issue has been rated "CARE AA/Stable" by CARE Ratings Limited and "BWR AA+/Stable" by Brickwork Ratings India Private Limited ("Brickwork") for an amount up to ₹ 10,000 million. The rating of the NCDs by CARE and Brickwork indicate a high degree of safety regarding timely servicing of financial obligations.
The company offers coupon rates ranging from 9.60% to 10.40% depending on the tenures of 400 days, 24 months, 36 months and 60 months and the mode of interest payments are monthly, annual, cumulative as per investors choice.
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