November 15, 2024
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KLM Axiva Finvest NCD November 2024 Details & Guidance
NCD Issue Opens on 14 November 2024
NCD Issue Closes on 28 November 2024
# NCD Review/Guidance is given at the bottom of the post
About the Company:
KLM Axiva Finvest a systemically important non-banking finance company (“NBFC – Middle Layer”), focusing primarily on serving low- and middle-income individuals and businesses with limited access to formal banking and finance channels. Originally named Needs Finvest Limited, it received its Certificate of Registration from the RBI on December 13, 1997, under Section 45 IA of the RBI Act, allowing it to operate as a non-banking financial institution without accepting public deposits. Subsequently, the company’s name was changed to KLM Axiva Finvest Limited, and it obtained a renewed Certificate of Registration from the RBI on March 15, 2016.
Its operations are structured around four key business verticals: gold loan business, micro, small and medium enterprises loans, personal loans, and microfinance loans. As of June 30, 2024, it has established a presence through 670 branches across six states: Kerala, Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Maharashtra, managed centrally from our corporate office in Kochi.
Its Assets Under Management (AUM) stood at Rs.1,72,095.82 lakhs as of March 31, 2024, marking a significant increase from Rs.1,07,296.71 lakhs in March 2022, representing a compound annual growth rate (CAGR) of 26.65%. This growth underscores its commitment to expanding its financial services reach and supporting the economic aspirations of its diverse customer base.
Get more details about the company @ https://klmaxiva.com/
NCD Promoter:
The Promoter of the company is Biji Shibu.
NCD Rating
The NCDs proposed to be issued under this Issue have been rated “ACUITE BBB”, by Acuité Ratings & Research Limited (“IRRPL”) & IND BBB-/Stable by India Ratings & Research Private Limited for an amount up to Rs. 15,000 lakhs.
| KLM Axiva Finvest NCD November 2024 Detail | |
| Issue Open | November 14, 2024 – November 28, 2024 |
| Security Name | KLM Axiva Finvest Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 50.00 Crores |
| Issue Size (Oversubscription) | Rs 50.00 Crores |
| Overall Issue Size | 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 | ACUITE BBB/Stable by Acuite Ratings & Research Limited and IND BBB/Stable by India Ratings & Research Private Limited. |
| Tenor | 400 days, 16, 18 and 79 Months, 2 , 3 and 5 Years |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vistra Itcl India Limited |
| NCD Allocation Ratio | |
| Category ? | NCD’s Allocated |
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
| KLM Axiva Finvest 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 | Cumulative | Monthly | Monthly | Annual | Monthly | Annual | Monthly | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 400 Days | 16 Months | 18 Months | 2 Years | 2 Years | 3 Years | 3 Years | 5 Years | 5 Years | 79 Months |
| Coupon (% per Annum) | 9.50% | NA | 9.85% | 10.00% | 10.25% | 10.25% | 10.50% | 10.75% | 11.00% | NA |
| Effective Yield (% per Annum) | 9.92% | 9.96% | 10.31% | 10.47% | 10.25% | 10.75% | 10.50% | 11.30% | 11.00% | 11.10% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,135.00 | 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 2,000.00 |
KLM Axiva Finvest NCD November 2024 Details & Guidance
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
1.For onward lending, financing and repayment/prepayment of principal and interest on existing borrowings; and
2.General Corporate Purposes.
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KLM Axiva Finvest NCD November 2024 Financial Information (Restated)
| Company Financials | ||
| KLM Axiva Finvest Limited Financial Information (Restated) | ||
| KLM Axiva Finvest Limited’s revenue increased by 15.41% and profit after tax (PAT) rose by 25.63% between the financial year ending with March 31, 2024 and March 31, 2023. | ||
| Period Ended | 31.03.24 | 31.03.23 |
| Assets | 1,960.34 | 1,719.30 |
| Revenue | 315.92 | 273.75 |
| Profit After Tax | 23.03 | 18.33 |
| Amount in Rs Crore | ||
Address of the Company
KLM Axiva Finvest Limited
Door No. 8-13, Plot No. 39, First Floor, Ashoka
Complex, Above Indian Bank, Mythripuram Colony,
GayathrinagarX Road, Vaishalinagar P.O., Hyderabad
NCD Lead Managers
Vivro Financial Services Pvt ltd
NCD Registrar
Kfin Technologies Limited
KLM Axiva Finvest NCD November 2024
Subscription Status on Nov, 14, 2024, 5.00 pm
| Category | Subscription |
| Retail | 0.16 X |
| HNI | – |
| Non-Institutional | 1.03 X |
| Institutional | 0.00 X |
| Total | 0.49 X |
KLM Axiva Finvest NCD November 2024
KLM Axiva Finvest NCD November 2024 Review:
1. KLM Axiva Finvest a systemically important non-banking finance company (“NBFC – Middle Layer”), focusing primarily on serving low- and middle-income individuals and businesses. Its Assets Under Management (AUM) as of March 31, 2024, has increased at a CAGR of 26.65%.
2. The NCDs have been rated have been rated “ACUITE BBB”, by Acuité Ratings & Research Limited, for an amount up to Rs. 15,000 lakhs.
4. Its net NPA stood at 0.67% as of March 31, 2024, against 2.70% as of March 31, 2022. Being NBFC – Middle Layer, with rating of “ACUITE BBB”, the company offers somewhat higher and attractive coupon rates, which makes risk-reward ratio attractive for this NCD. You may invest small amount, in this NCD.
