December 13, 2024
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Sammaan Capital NCD December 2024 Details & Guidance
NCD Issue Opens on 9 December 2024
NCD Issue Closes on 20 December 2024
# NCD Review/Guidance is given at the bottom of the post
About the Company:
Sammaan Capital Limited, established in 2005 and formerly known as Indiabulls Housing Finance Limited, is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB).
As one of India’s largest housing finance companies and the flagship entity of the Indiabulls Group, Sammaan Capital offers a range of mortgage finance products. These include home loans and loans against property for salaried individuals, self-employed professionals, micro, small, and medium enterprises (MSMEs), and corporates. Additionally, the company provides mortgage loans to real estate developers in India, including lease rental discounting for commercial properties and construction loans for residential building projects.
As of June 30, 2024, Sammaan Capital operates 215 branches across India and employs 1,433 direct sales personnel on a consolidated basis. As of March 31, 2024, the company’s loan portfolio was divided into 38.81% housing loans and 61.19% non-housing loans.
Get more details about the company @ https://www.sammaancapital.com/
NCD Promoter:
The Promoters of the company are i) Gautam S. Adani and (ii) Rajesh S. Adani,
NCD Rating
CRISIL AA/Stable” (pronounced as CRISIL double A rating with stable outlook) by CRISIL Ratings Limited and “[ICRA] AA (Stable)” (pronounced as ICRA double A rating with a stable outlook) by ICRA Limited
| Sammaan Capital NCD Tranche II Dec 2024 Detail | |
| Issue Open | December 9, 2024 – December 20, 2024 |
| Security Name | Sammaan Capital Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 200.00 Crores |
| Tranche Issue Size | Rs 300.00 Crores |
| Issue Size (Shelf) | Rs 2,000.00 Crores |
| Tranche Number | II |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CRISIL AA/Stable by CRISIL Ratings Limited and [ICRA] AA (Stable) by ICRA Limited. |
| Tenor | 24, 36 ,60, 84 and 120 months |
| Series | Series I to XII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Idbi Trusteeship Services Ltd. |
| NCD Allocation Ratio | |
| Category ? | NCD’s Allocated |
| Institutional | 30% |
| Non-Institutional | 10% |
| HNI | 30% |
| Retail | 30% |
| Sammaan Capital Limited NCD Coupon Rates | ||||||||||||
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | Series 12 | |
| Frequency of Interest Payment | Annual | Monthly | Cumulative | Annual | Monthly | Cumulative | Annual | Monthly | Annual | Monthly | Annual | Monthly |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 84 Months | 84 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 9.65% | 9.25% | NA | 9.90% | 9.48% | NA | 10.15% | 9.71% | 10.50% | 10.03% | 10.75% | 10.25% |
| Effective Yield (% per Annum) | 9.65% | 9.65% | 9.65% | 9.90% | 9.90% | 9.90% | 10.15% | 10.15% | 10.50% | 10.48% | 10.74% | 10.75% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,202.32 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,327.38 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
Sammaan Capital NCD December 2024 Details & Guidance
Objects of the Issue
The Company proposes to utilise the funds which are being raised through this Issue towards funding the following objects
- For onward lending, financing, and repayment of interest and principal of existing borrowings of the Company
- General corporate purposes.
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| Company Financials | |||
| Sammaan Capital Limited Financial Information (Restated Consolidated) | |||
| Sammaan Capital Limited’s revenue decreased by -1.16% and profit after tax (PAT) rose by 7.92% between the financial year ending with March 31, 2024 and March 31, 2023. | |||
| Period Ended | ############ | ############ | ############ |
| Assets | 73,066.40 | 74,945.24 | 81,973.32 |
| Revenue | 8,624.77 | 8,725.79 | 8,993.90 |
| Profit After Tax | 1,216.97 | 1,127.68 | 1,177.74 |
| Reserves and Surplus | 19,678.87 | 17,271.53 | 16,584.95 |
| Amount in RS Crore | |||
Address of the Company
Sammaan Capital Limited
5th Floor, Building No. 27,
KG Marg Connaught Place,
New Delhi -110 001
NCD Lead Managers
Nuvama Wealth Management Limited
Elara Capital (India) Private Limited
Trust Investment Advisors Private Limited
NCD Registrar
Kfin Technologies Limited
Sammaan Capital NCD December 2024
Subscription Status on December 13, 2024, 5.00 pm
| Category | Subscription |
| Retail | 0.00 X |
| HNI | 0.00 X |
| Non-Institutional | 0.00 X |
| Institutional | 0.00 X |
| Total | 0.00 X |
Sammaan Capital NCD December 2024
Sammaan Capital NCD December 2024 Review by Paresh Gordhandas, CA & Research Analyst
1. Sammaan Capital Limited, established in 2005 and formerly known as Indiabulls Housing Finance Limited, is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB). As of June 30, 2024, Sammaan Capital operates 215 branches across India and employs 1,433 direct sales personnel on a consolidated basis. As of March 31, 2024, the company’s loan portfolio was divided into 38.81% housing loans and 61.19% non-housing loans.
2. The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable by Crisil ltd
3. The topline and bottomline of the company during last years have been rangebound and good.
4. Compared to other companies, the coupon rates are marginally higher. Looking to the risk/return ratio for this NCD, I recommend small investment in this NCD.
