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Sakthi Finance Limited NCD (Sakthi Finance NCD June 2021) Detail

Jun 29, 2021 - Jul 23, 2021
Sakthi Finance Limited Logo

Incorporated in 1955, Sakthi Finance Limited is a Coimbatore, Tamil Nadu based NBFC company involve in the business of financing commercial vehicles.

Sakthi Finance is a part of the 'Sakthi Group' of companies. Shakti Group is an industrial conglomerate having a presence in sugar, industrial alcohol, automobile distribution, auto components, dairy, co-generation, wind energy, and transportation.

Sakthi Finance is an Investment and Credit company with a primary focus on financing pre-owned commercial vehicles. Sakthi Finance also provides finance for purchasing infrastructure construction equipment, multi-utility vehicles, cars, jeeps, and other machinery. The finances provided are secured by a lien on the assets financed.

Sakthi Finance's target customers predominantly comprise Small / Medium Road Transport Operators from rural / semi-urban areas. It has a network of 49 branches, located in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana, and Union Territory of Puducherry.

In addition to finance business, companies generate power from windmills and sell it to Tamil
Nadu Electricity Board and Gujarat UrjaVikas Nigam Limited. At present, the company have 17 windmills with an aggregate capacity of 5,150 kW located in the States of Tamil Nadu and Gujarat.

Sakthi Finance NCD June 2021 Detail

Issue Open Jun 29, 2021 - Jul 23, 2021
Security Name Sakthi Finance Limited
Security Type Secured, 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 100.00 Crores
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 10 NCD
Listing At BSE
Credit Rating [ICRA] BBB (Stable)
Tenor 26, 39, 49 and 61 months
Series
Payment Frequency Monthly, Cumulative
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 5%
Non-Institutional 45%
Retail 50%
Category 4 0%

NCD's Offered by Category

Category ? NCD's Reserved
Institutional 50,000
Non-Institutional 450,000
Retail 500,000
Category 4 0
Total NCD's 1,000,000

Coupon Rates

Series

Frequency

Tenure

Coupon Rate

Effective Yield

I

Monthly

26 Months

9.50%

9.50%

II

Cumulative

26 Months

NA

10.42%

III

Monthly

39 Months

9.75%

9.75%

IV

Cumulative

39 Months

NA

11.32%

V

Monthly

49 Months

10.00%

10.00%

VI

Cumulative

49 Months

NA

12.17%

VII

Monthly

61 Months

10.50%

10.50%

VIII

Cumulative

61 Months

NA

13.64%

NCD Rating

The rating committee of ICRA, after due consideration, has assigned the [ICRA] BBB rating to the Sakthi Finance NCD in June 2021. This represents that the NCD has a moderate degree of safety regarding timely servicing of financial obligations. The outlook on long-term rating is 'Stable'.

Company Promoters

Dr. M. Manickam and Mr. M. Balasubramaniam

Objects of the Issue

The Net Proceeds raised through this Issue will be utilized for following purposes in the ratio provided as below:

  1. For the purpose of on-ward lending, financing and for repayment/prepayment of principal and interest of existing borrowings (including redemption of NCDs which would become due for redemption) of the Company - at least 75%.
  2. For general corporate purposes - up to 25%.

Sakthi Finance NCD June 2021 Prospectus

Sakthi Finance NCD June 2021 Subscription Status

The Sakthi Finance NCD June 2021 was subscribed 2.10 times on Jul 23, 2021 5:00:00 AM. The NCD subscribed 2.11 times in Retail, 2.32 times in Non-Institutional, and 0.05 times in the Institutional category.

Category ?Subscription (times)
Retail2.11x
Non-Institutional2.32x
Institutional0.05x
Total2.10x

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Sakthi Finance NCD June 2021 Rating

13
3.5
Rating:Rated 3.5 stars
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Sakthi Finance NCD June 2021 Reviews

Company Contact Information

Sakthi Finance Limited
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://www.sakthifinance.com/

Sakthi Finance NCD June 2021 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.ncd2021@linkintime.co.in
Website: https://linkintime.co.in/

Sakthi Finance NCD June 2021 Lead Manager(s)


2 Comments

2. Santosh Vaidya     Link|Jul 18, 2021 5:32:36 PM
Why Sakthi NCD is not available on ICICI direct?
1. Sarthak Deshmukh     Link|Jul 5, 2021 12:53:45 AM
BBB rating so I'm avoiding it....