Manappuram Home Finance Limited NCD (Manappuram Home Finance NCD Sept 2019) Detail

Sep 30, 2019 - Oct 29, 2019

Incorporated in 2010, Manappuram Home Finance Ltd is a non-deposit taking Housing Finance Company authorized by the National Housing Bank.

It is a wholly-owned subsidiary of Manappuram Finance Limited, which is an NBFC providing loans against household and gold jewellery.

The company provides housing finance to MIG, LIG, EWS segments in the towns, Tier II and Tier III cities in the country at affordable pricing.

Manappuram Home Finance offers mainly two products which are Loan Against Property (LAP) and Home Loan. As on 31st March 2019, it has around 6,184 customers based on the number of loan products and AUM was Rs 51,875.81 lakhs.

Competitive Strengths

1. Strong Parentage of Manappuram brand
2. Variety of funding sources
3. Well defined business processes
4. Healthy asset quality
5. Effective risk management system

Manappuram Home Finance NCD Sept 2019 Detail

Issue OpenSep 30, 2019 - Oct 29, 2019
Security NameManappuram Home Finance Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)Rs 100.00 Crores
Issue Size (Shelf)Rs 100.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Credit RatingCARE AA-/Stable
Tenor36 months/ 60 months/ 2500 days

Series 1 to Series 7

Payment FrequencyMonthly, Annual and Cumulative
Basis of AllotmentFirst Come First Serve Basis

NCD Allocation Ratio

NCD's allocated in each investor category:

Category ?NCD's Allocated
Category 1 (QIB)10%
Category 2 (NII)40%
Category 3 (HNI)50%
Category 4 (RII)0%

NCD's Offered

NCD's offered in each investor category:

Category ?NCD's Reserved
Category 1 (QIB)100,000
Category 2 (NII)400,000
Category 3 (HNI)500,000
Category 4 (RII)0
Total NCD's1,000,000

Coupon Rates

Coupon rates for series 1 to 7

  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7
Frequency of Interest Payment Monthly Annually Cumulative Monthly Annually Cumulative Cumulative
Tenor 36 months 36 months 36 months 60 months 60 months 60 months 2500 Days
Coupon Rate 9.75% 10.00% NA 10.25% 10.65% NA NA
Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,331 Rs 1,000 Rs 1,000 Rs 1,659 Rs 2,000

NCD Rating Detail

The NCDs proposed to be issued under this Issue have been rated "CARE AA-; Stable" (AA minus; Outlook Stable) by CARE Ratings Limited ("CARE Ratings") for an amount up to ?20,000 lakhs, vide its letter dated August 26, 2019 and revalidated letter dated September 16, 2019 and the Rating Rationale letter dated August 28, 2019. The rating of NCDs by CARE Ratings indicates that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations.

Company Promoters:

Manappuram Finance Limited is the promoter of the company.

Objects of the Issue:

The details of the proceeds of the Issue towards funding the following objects:

1. For the purpose of onward lending, financing and repayment of interest and principal of existing borrowings; and
2. For General Corporate Purposes

Manappuram Home Finance NCD Sept 2019 Prospectus

Manappuram Home Finance NCD Sept 2019 Rating

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Company Contact Information

Manappuram Home Finance Limited
Unit No. 301-315, 3rd Floor, Wing A,
Kanakia Wall Street, Andheri Kurla Road,
Andheri East, Mumbai 400093, Maharashtra India

Phone: +91 22 66211000

Manappuram Home Finance NCD Sept 2019 Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270

Manappuram Home Finance NCD Sept 2019 Lead Manager(s)

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