Chemmanur Credits and Investments NCDChemmanur 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 @

    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

    Chemmanur Credits & Investments NCD Oct 2023

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