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Sakthi Finance Limited NCD (Sakthi Finance NCD June 2024) Detail

June 20, 2024 - July 3, 2024
Sakthi Finance Limited Logo

Founded in 1955, Sakthi Finance Limited, part of the Sakthi Group based in Coimbatore, South India, is an investment and lending company specializing in the financing of used commercial vehicles.

The company also offers financing for the purchase of machinery, cars, jeeps, and multi-purpose vehicles for infrastructure construction. The financing provided is secured by a lien on the financed assets.

The company has a network of 54 branches in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana, and the Union Territory of Puducherry. The company also generates power from wind turbines and sells it to the Tamil Nadu Electricity Board and Gujarat Urja Vikas Nigam Limited. Currently, Sakthi Finance has 17 wind power plants with a total capacity of 5,150 kW in the states of Tamil Nadu and Gujarat.

Sakthi Finance's customer base consists of small/medium-sized road transport operators (SRTOs/MRTOs) mainly located in rural/semi-urban areas.

As of December 31, 2023, the company had assets under management (AUM) of ₹1,22,168.76 lakhs.

Sakthi Finance NCD June 2024 Detail

Issue Open June 20, 2024 - July 3, 2024
Security Name Sakthi Finance Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 75.00 Crores
Issue Size (Oversubscription)Rs 75.00 Crores
Overall Issue SizeRs 150.00 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) by ICRA Limited.
Tenor 24, 36, 60 and 85 months
Series

Series I to VII

Payment Frequency Monthly and Cumulative
Basis of Allotment First Come First Serve Basis
Debenture Trustee/sCatalyst 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 37,500
Non-Institutional 112,500
HNI 300,000
Retail 300,000
Total NCD's 750,000

Sakthi Finance Limited NCD Coupon Rates

#Series 1Series 2Series 3Series 4Series 5Series 6Series 7
Frequency of Interest PaymentMonthlyCumulativeMonthlyCumulativeMonthlyCumulativeCumulative
NatureSecuredSecuredSecuredSecuredSecuredSecuredSecured
Tenor24 Months24 Months36 Months36 Months60 Months60 Months85 Months
Coupon (% per Annum)9.00%NA9.25%NA10.25%NANA
Effective Yield (% per Annum)9.00%9.31%9.25%9.58%10.25%10.65%10.38%
Amount on Maturity (In Rs.)Rs 1,000.00Rs 1,194.83Rs 1,000.00Rs 1,315.66Rs 1,000.00Rs 1,658.72Rs 2,013.13

NCD Rating

The NCDs proposed to be issued by the company are rated [ICRA] BBB (Stable) by ICRA Limited (ICRA).

Company Promoters

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

Company Financials

Sakthi Finance Limited Financial Information (Restated)

Sakthi Finance Limited's revenue increased by 5.84% and profit after tax (PAT) rose by 31.25% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,381.261,300.581,269.431,240.43
Revenue152.59191.94181.35171.34
Profit After Tax11.5212.499.529.26
Net Worth185.21179.27170.95164.89
Amount in ₹ Crore

Objects of the Issue

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
  1. For the purpose of onward 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.
  2. For general corporate purposes.

Sakthi Finance NCD June 2024 Prospectus

Sakthi Finance NCD June 2024 Subscription Status

The Sakthi Finance NCD June 2024 was subscribed 1.75 times on July 3, 2024 6:25:00 PM. The NCD subscribed 3.04 times in Retail, 1.33 times in HNI, 0.00 times in Non-Institutional, and 0.00 times in the Institutional category.

Category ?Subscription (times)
Retail3.04x
HNI1.33x
Non-Institutional0.00x
Institutional0.00x
Total1.75x

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Company Contact Information

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

Phone: +91 (422) 2231471
Email: sakthif_info@sakhtifinance.com
Website: http://www.sakthifinance.com

Sakthi Finance NCD June 2024 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.ncd2024@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

Sakthi Finance NCD June 2024 Lead Manager(s)


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