360 ONE Prime Tranche II NCD May 2024 Details & Guidance
NCD Issue Opens on 24 May 2024
NCD Issue Closes on 6 June 2024
# NCD Guidance is given at the bottom of the post
About the Company:
360 ONE Prime is a wholly-owned subsidiary of 360 ONE WAM Limited, operating as a lending vehicle of the 360 ONE group. It is registered as a non-deposit taking non-banking financial company with the Reserve Bank of India under Section 45-IA of the Reserve Bank of India Act (“NBFC”) and classified as a middle layer NBFC.
Its product suite primarily includes Loans against Securities (LAS), Loan-against-Property (LAP) and unsecured lending products. The Company provides customized lending solutions including financing against a combination of liquid and illiquid financial assets to meet all funding requirements of its clients in form of term loans and advances.
It has demonstrated sound operational and financial performance over the years and our AUM has grown to Rs. 6,388.27 crore as of March 31, 2024 from Rs. 3,935.63 crore as of March 31, 2022. In terms of disbursements we experienced a significant growth at a CAGR of 16.51%, from Rs. 9,339.81 crores as of March 31, 2022 to Rs. 10,881.59 crores as of March 31, 2024.
Its total revenues from operations is Rs. 894.10 crore, Rs. 673.66 crore and Rs. 754.57 crore for the Fiscal 2024, Fiscal 2023 and Fiscal 2022, respectively and our profit for Fiscal 2024, Fiscal 2023 and Fiscal 2022 was Rs. 273.63 crore, Rs. 234.52 crore and Rs. 282.80 crore, respectively.
Get more details about the company @ https://www.360.one/
NCD Promoter:
360 ONE WAM Limited is the company promoter.
NCD Rating
The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable by CRISIL Ratings Limited and ICRA AA (Stable) by ICRA Limited with such ratings considered to have a stable outlook.
| 360 ONE Prime Tranche II NCD May 2024 Detail | |
| Issue Open | May 24, 2024 – June 6, 2024 |
| Security Name | 360 ONE Prime Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 400.00 Crores |
| Tranche Issue Size | Rs 0.50 Crores |
| Issue Size (Shelf) | Rs 1,500.00 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 |
| Credit Rating | CRISIL AA/Stable by CRISIL Ratings Limited and [ICRA] AA (stable) by ICRA Limited. |
| Tenor | 18, 24, 36, 60 and 120 months |
| Series | Series I to X |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Beacon Trusteeship Limited |
| NCD Allocation Ratio | |
| Category ? | NCD’s Allocated |
| Institutional | 25% |
| Non-Institutional | 25% |
| HNI | 25% |
| Retail | 25% |
| 360 ONE Prime Limited NCD Coupon Rates | ||||||||||
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
| Frequency of Interest Payment | Monthly | Annual | Monthly | Annual | Monthly | Annual | Monthly | Annual | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 18 Months | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 8.86% | 9.16% | 8.98% | 9.35% | 9.16% | 9.55% | 9.21% | 9.60% | 9.44% | 9.85% |
| Effective Yield (% per Annum) | 9.22% | 9.23% | 9.36% | 9.35% | 9.55% | 9.55% | 9.60% | 9.60% | 9.86% | 9.84% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
360 ONE Prime Tranche II NCD May 2024 Details & Guidance
Objects of the Issue
The Net Proceeds raised through the Tranche III Issue will be utilised for the following activities in the ratio provided below:
1.For the purpose of onward lending, financing / refinancing the existing indebtedness of the company, and/or debt servicing (payment of interest and/or repayment/prepayment of interest and principal of existing borrowings of the company)
2.General Corporate Purpose
.
360 ONE Prime Financial Information (Restated)
| Company Financials | |||
| 360 ONE Prime Limited Financial Information (Restated) | |||
| Period Ended | 31 March 2024 | 31 March 2023 | 31 March 2022 |
| Assets | 8,132.79 | 7,719.70 | 6,795.83 |
| Revenue | 897.21 | 673.66 | 754.58 |
| Profit After Tax | 273.63 | 234.52 | 282.8 |
| Net Worth | 1,434.15 | 1,394.18 | 1,271.47 |
| Amount in Rs Crore | |||
Address of the Company
360 ONE Prime Limited
360 ONECentre, Kamala City,
Senapati Bapat Marg, Lower Parel,
Delisle Road, Mumbai – 400 013
NCD Lead Managers
Trust Investment Advisors Private Limited
A.K. Capital Services Limited
Iifl Securities Ltd
NCD Registrar
Link Intime India Pvt ltd
360 ONE Prime Tranche II NCD May 2024
Subscription Status on May 24, 2024
| Category | Subscription |
| Retail | 0.00 T |
| Non-Institutional | 0.00 T |
| Institutional | 0.00 T |
| Today | 0.00 T |
360 ONE Prime Tranche II NCD May 2024
360 ONE Prime Tranche II NCD May 2024 Guidance:
1. The company has strong parentage and impressive profits.
2. The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable by CRISIL Ratings Limited.
3. Coupon rates are good.
4. May Apply/invest in this NCD.
