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Sakthi Finance Ltd NCD (Sakthi Fin NCD March 2020) Detail

Mar 13, 2020 - Apr 30, 2020

Incorporated in 1955, Sakthi Finance Limited is an RBI registered deposit-taking NBFC engaged in commercial vehicle financing sector. Its operation activities come under section 45-IA of the Reserve Bank of India Act, 1934. The company is a part of the Sakthi Group, which is engaged in the business of transportation, dairy, auto components, co-generation, industrial alcohol, sugar, automobile distribution, and wind energy.

As an asset finance company, the company concentrates on previously owned commercial vehicles. Apart from this, it also helps the customers by providing financing services on buying infrastructure construction equipment, jeeps, multi-utility vehicles, and other sorts of machinery.

The target customers of Sakthi Finance Limited are small and medium road transport operators belonging from a rural or semi-urban area. The company provides financing services mainly in Southern India and has a strong branch network in Kerala and Tamil Nadu.

The company is also involved in selling electricity (which is generated from its 17 windmills) to Gujarat Urja Vikas Nigam Limited and Tamil Nadu Electricity Board. The AUM of the company was ₹92,385.67 lakh as on 30th Sep 2018 at CAGR of 4.70% from 31st March 2014. The income generated from hire purchase business was ₹12,644.05 lakh for the financial year 2014 which is increased at CAGR of 5.58% to ₹15,708.40 lakh for the financial year 2018.

The competitive strengths of the company are:

1. The high growth momentum of the industry
2. Back support of reputed Sakthi group
3. Prominent reach in Southern Region
4. Four decades of experience in the field
5. Unique business model

Sakthi Fin NCD March 2020 Detail

Issue OpenMar 13, 2020 - Apr 30, 2020
Security NameSakthi Finance Ltd
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)
Issue Size (Base)Rs 100.00 Crores
Issue Size (Shelf)Rs 200.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Credit RatingICRA BBB/ Stable
Tenor24 months/ 39 months/ 49 months/ 62 months
Series

Series 1 to Series 11

Payment FrequencyAnnual, Cumulative and Monthly
Basis of Allotment

NCD Allocation Ratio

NCD's allocated in each investor category:

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

NCD's Offered

NCD's offered in each investor category:

Category ?NCD's Reserved
Category 1 (QIB)50,000
Category 2 (NII)50,000
Category 3 (HNI)900,000
Category 4 (RII)0
Total NCD's1,000,000

Coupon Rates

Coupon Rates for Eash Series

  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7 Series 8 Series 9 Series 10 Series 11
Frequency of Interest Payment Monthly Cumulative Monthly Annually Cumulative Monthly Annually Cumulative Monthly Annually Cumulative
Tenor 24 Months 24 Months 39 Months 39 Months 39 Months 49 Months 49 Months 49 Months 62 Months 62 Months 62 Months
Coupon Rate (Retail) For Category I & II/ for III & IV 9.50% NA 9.75% 9.75% NA 10% 10% NA 10.25% 10.25% NA
Amount on Maturity For Category I & II/ for III & IV ₹1,000 ₹1,207 ₹1,000 ₹1,000 ₹1,368 ₹1,000 ₹1,000 ₹1,497 ₹1,000 ₹1,000 ₹1,687

NCD Rating Detail

The NCDs proposed to be issued by our Company have been rated by ICRA Limited ("ICRA"). ICRA has vide its letter no RTG/Chen/132/19-20 dated February 18, 2020, assigned a rating of "[ICRA] BBB (Stable)" for an amount up to ` 20,000 lakh for the NCDs. The rating of the NCDs by ICRA indicates moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit risk

Company Promoters

Dr. M. Manickam and Mr. M. Balasubramaniam are the promoters of the company.

Objects of the Issue:

The details of the Net Proceeds are set out are as follow:

1. Issue related expenses
2. For the purpose of on-ward lending, financing and for repayment / prepayment of principal and interest of existing borrowings of the company
3. For general corporate purposes

Sakthi Fin NCD March 2020 Extended

Sakthi Fin NCD issue close date is extended to 30th April 2020 from 9th April 2020

Sakthi Fin NCD March 2020 Prospectus

Sakthi Fin NCD March 2020 Rating

7
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Rating:Rated 2.7 stars

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Sakthi Fin NCD March 2020 Reviews

Company Contact Information

Sakthi Finance Ltd
62, Dr. Nanjappa Road,
Post Box No. 3745,
Coimbatore - 641 018, Tamil Nadu

Phone: +91 (422) 2231471-474/423
Email: svenkatesh@sakthifinance.com
Website: https://sakthifinance.com/

Sakthi Fin NCD March 2020 Registrar

S.K.D.C Consultants Limited
   Kanapathy Towers, 3rd Floor,
   1391/A1, Sathy Road, Ganapathy,
   Coimbatore - 641 006, Tamil Nadu

Phone: 91-422-6549995, 2539835-36
Email: sflncd@skdc-consultants.com
Website: http://www.skdc-consultants.com

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