Sakthi Finance Limited NCD (Sakthi Finance NCD April 2023) Detail

Apr 17, 2023 - Apr 28, 2023
Sakthi Finance Limited Logo

Incorporated in 1955, Sakthi Finance Limited, a part of Sakthi Group of companies based in Coimbatore, South India, is an investment and credit company with a primary focus on financing pre-owned commercial vehicles.

The company also provides finance for the acquisition of machinery, cars, jeeps, and multi-utility vehicles for use in building infrastructure. The finances provided are secured by a lien on the assets financed.

The company has a network of 51 branches, located in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana, and the Union Territory of Puducherry. The company also generates power from windmills and sells it to Tamil Nadu Electricity Board and Gujarat Urja Vikas Nigam Limited. At present, Sakthi Finance has 17 windmills with an aggregate capacity of 5,150 kW located in the States of Tamil Nadu and Gujarat.

Sakthi Finance's customer base comprises Small / Medium Road Transport Operators ("SRTOs / MRTOs") primarily from rural / semi-urban areas.

Sakthi Finance NCD April 2023 Detail

Issue Open Apr 17, 2023 - Apr 28, 2023
Security Name Sakthi Finance Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 100.00 Crores
Issue Size (Shelf) Rs 200.00 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 BBB (Stable)
Tenor 24, 36, 48, 60 and 85 months
Series Series I to IX
Payment Frequency Monthly and Cumulative
Basis of Allotment First Come First Serve Basis
Debenture TrustiesCatalyst Trusteeship Limited

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 5%
Non-Institutional 15%
HNI 40%
Retail 40%

NCD's Offered by Category

Category ? NCD's Reserved
Institutional 50,000
Non-Institutional 150,000
HNI 400,000
Retail 400,000
Total NCD's 1,000,000

Sakthi Finance Limited NCD Coupon Rates

#Series 1Series 2Series 3Series 4Series 5Series 6Series 7Series 8Series 9
Frequency of Interest PaymentMonthlyCumulativeMonthlyCumulativeMonthlyCumulativeMonthlyCumulativeCumulative
Tenor24 Months24 Months36 Months36 Months48 Months48 Months60 Months60 Months85 Months
Coupon (% per Annum)9.00%NA9.25%NA9.50%NA10.25%NANA
Effective Yield (% per Annum)9.00%9.74%9.25%10.52%9.50%11.40%10.25%13.17%14.30%
Amount on Maturity (In Rs.)Rs 1,000.00Rs 1,194.83Rs 1,000.00Rs 1,315.66Rs 1,000.00Rs 1,455.80Rs 1,000.00Rs 1,658.72Rs 2,013.13

NCD Rating

The NCD worth Rs. 100 Cr has been rated as BBB with a stable outlook by ICRA Credit Rating Agency. An instrument with such a rating is expected to have a moderate degree of safety regarding the timely servicing of debt financial obligations.

Company Promoters

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

Company Financials

Sakthi Finance Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet Worth
Amount in ₹ Crore

Objects of the Issue

The proceeds from the issue will be used for the following objects:
  1. Onward lending, financing, and for repayment/prepayment of principal and interest of existing borrowings.
  2. Meet general corporate purposes.

Sakthi Finance NCD April 2023 Prospectus

Sakthi Finance NCD April 2023 Subscription Status

The Sakthi Finance NCD April 2023 was subscribed 1.55 times on Apr 28, 2023 1:00:00 AM. The NCD subscribed 2.58 times in Retail, 1.29 times in HNI, 0.00 times in Non-Institutional, and 0.00 times in the Institutional category.

Category ?Subscription (times)

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Sakthi Finance NCD April 2023 Rating

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Company Contact Information

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

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

Sakthi Finance NCD April 2023 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
Email: sakthifinance.ncd2023@linkintime.co.in
Website: https://linkintime.co.in/

Sakthi Finance NCD April 2023 Lead Manager(s)

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