October 10, 2023
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Chemmanur Credits and Investments NCD October 2023 Details
NCD Issue Opens on 16 October 2023
NCD Issue Closes on 30 October 2023
# NCD Guidance is given at the bottom of the post
About the Company:
Chemmanur Credits and Investments is a non-deposit taking, non-banking financial company primarily engaged in the gold loan sector lending money against the pledge of household gold jewellery in the state of Kerala, Tamil Nadu, Karnataka Andhra Pradesh and Maharashtra. It also provides Microfinance Loans, business and personal loans, money transfer services and distribution of third party insurance products. It has been engaged in the lending business for more than 13 years and is based in Kerala, India.
As of September 30, 2023, it operated through 222 branches located across 5 states namely Kerala,
Tamil Nadu, Karnataka, Maharashtra and Andhra Pradesh managed through its registered office located at Thrissur, Kerala and it employs 1,172 persons in its business operations.
It is a part of Boby Chemmanur Group which is engaged in diverse range of businesses and based in Kerala, India. The group has retail gold jewellery showrooms in USA and Middle East apart from those in India. The Boby Chemmanur Group has received BIS certification for purity of gold. Its Promoter is Chemmanur Devassykutty Boby popularly known as Boby Chemmanur, the Chairman and Managing Director of the Company. Currently, it offers various Gold Loan schemes to suit the individual needs of our customers.
Currently it offers Gold Loans for tenure ranging up to 180 days. The schemes differ in relation to interest rate chargeable, amount advanced per gram of gold, tenure, amount of loan.
For the three months ended June 30,2023, and financial year ended on March 31, 2023, March 31, 2022 and March 31, 2021, the Company held 0.85 tonnes, 0.86 tonnes, 0.87 tonnes and 0.87 tonnes of gold jewellery respectively, as security for all Gold Loans.
Get more details about the company @ https://www.chemmanurcredits.com/
NCD Promoter: Chemmanur Devassykutty Boby
NCD Rating
The NCDs proposed to be issued have been rated ‘CRISIL BBB-/Stable’ by CRISIL Ratings Limited.
| Chemmanur Credits and Investments NCD October 2023 Detail | |
| Issue Open | October 16, 2023 – October 30, 2023 |
| Security Name | Chemmanur Credits and Investments Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 50.00 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 | 1 NCD |
| Listing At | BSE |
| Credit Rating | CRISIL BBB-/Stable |
| Tenor | 366 days, 18, 24, 36, 60, 12 and 74 months |
| Series | Series I to VIII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Mitcon Credentia Trusteeship Services Limited |
| NCD Allocation Ratio | |
| Category | NCD’s Allocated |
| Institutional | 10% |
| Non-Institutional | 40% |
| HNI | 0% |
| Retail | 50% |
| Total | 100% |
| NCD’s Offered by Category | |
| Category | NCD’s Reserved |
| Institutional | 10,00,000 |
| Non-Institutional | 40,00,000 |
| Retail | 50,00,000 |
| Category 4 | 00,00,000 |
| Total NCD’s | 100,00,000 |
| Chemmanur Credits and Investments Limited NCD Coupon Rates | ||||||||
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | |
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Monthly | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 366 Days | 18 Months | 24 Months | 36 Months | 60 Months | 12 Months | 24 Months | 74 Months |
| Coupon (% per Annum) | 9.50% | 10.50% | 10.75% | 11.00% | 11.50% | NA | NA | NA |
| Effective Yield (% per Annum) | 9.92% | 11.02% | 11.30% | 11.57% | 12.13% | 9.50% | 10.75% | 11.90% |
| Amount on Maturity (In Rs.) | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,095 | Rs 1,227 | Rs 2,000 |
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Onward lending, financing, and repayment of interest and principal of existing borrowings of the company.
General corporate purposes.
.
| Company Financials | |||
| Chemmanur Credits and Investments Limited Financial Information (Restated) | |||
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 499.42 | 430.46 | 384.99 |
| Revenue | 83.21 | 73.49 | 74.74 |
| Profit After Tax | 0.8 | 2.66 | 9.24 |
| Net Worth | 85.32 | 88.05 | 87.94 |
| Reserves and Surplus | 27.41 | 28.05 | 27.94 |
| Total Borrowing | |||
| Amount in Rs Crore | |||
Address of the Company
Chemmanur Credits and Investments Limited
Mangalodhayam Building
Round South
Thrissur – 680001, Kerala
NCD Lead Managers
Vivro Financial Services Pvt ltd
NCD Registrar
Kfin Technologies Limited
Chemmanur Credits and Investments NCD October 2023
Red Herring Prospectus
Analysis & Guidance:
1. Focused in few states of south India.
2. Profits show declining trend during last 3 years.
3. NCD has been rated ‘CRISIL BBB-/Stable’
4. Impressive coupon rates.
Small investment is recommended.
| Chemmanur Credits and Investments NCD October 2023 | |
| Subscription Status | |
| On 16.10.2023 | @ 5.00 pm |
| Category | Subscription |
| Institutional | 0.00 T |
| Non-Institutional | 0.00 T |
| HNI | 0.00 T |
| Retail | 0.00 T |
| Total | 0.00 T |
