360 ONE Prime NCD – Tranche I NCD January 2024

360 ONE Prime NCD opens for subscription on 11 January 2024. The company aims for a base issue size of ₹1000 Crores.

About the company

360 One Prime, a fully-owned subsidiary of 360 ONE WAM Limited, functions as the lending arm within the 360 ONE group. Its product suite predominantly encompasses Loans against Securities (LAS), Loan-against-Property (LAP), and various unsecured lending products. Offering tailored lending solutions, the company extends financing secured against a combination of liquid and illiquid financial assets. This comprehensive approach ensures the fulfillment of all funding needs for its clients in the form of term loans and advances.

360 One Prime has consistently demonstrated robust operational and financial performance. As of FY 2023, its Assets Under Management (AUM) have surged to INR 4,926.79 crore from INR 3,703.25 crore as of FY 2021. Notably, in terms of disbursements, it has witnessed a remarkable growth at a CAGR of 60.47%, soaring from INR 6,796.02 crores as of FY 2021 (excluding the discontinued public issue funding business) to INR 10,905.84 crores as of FY 2023.

In FY 2023, 360 One Prime reported total revenues from operations at INR 673.66 crore, a comparison to INR 782.59 crore (excluding income from the distribution business at INR 188.06 crore) in FY 2021. The profit for the FY 2023 stood at INR 234.52 crore, marking an increase from INR 156.19 crore recorded in the FY 2021.

Objectives of the Issue

  • For onward lending, financing /refinancing the company’s existing indebtedness, and debt servicing (payment of interest and repayment/prepayment of interest and principal of existing borrowings of the company.
  • General corporate purposes.

360 ONE Prime NCD Details

Issue OpenJanuary 11, 2024 – January 15, 2024
Security Name360 ONE Prime Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)₹ 1,000.00 Crores
Issue Size (Shelf)₹ 1,500.00 Crores
Issue Price₹ 1000 per NCD
Face Value₹ 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Credit Rating“CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited
Tenor18, 24, 36 and 60 months
SeriesSeries I to VIII
Payment FrequencyMonthly and Annually
Basis of AllotmentFirst Come First Serve Basis
Debenture Trustee/sBeacon Trusteeship Limited

360 ONE Prime NCD Options and Coupon Rates

OptionTenureInterest PaymentCoupon RateEffective YieldMaturity Amount
Series 118 monthsMonthly8.91%9.26%₹ 1,000
Series 218 monthsAnnual9.22%9.27%₹ 1,000
Series 324 monthsMonthly9.03%9.40%₹ 1,000
Series 424 monthsAnnual9.41%9.40%₹ 1,000
Series 536 monthsMonthly9.21%9.60%₹ 1,000
Series 636 monthsAnnual9.61%9.60%₹ 1,000
Series 760 monthsMonthly9.26%9.65%₹ 1,000
Series 860 monthsAnnual9.66%9.65%₹ 1,000

360 ONE Prime 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.

Company Financials

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax172.92234.52282.80156.19
Net Worth1,452.411,394.431,272.301,693.77
(Amount in ₹ Crore)

360 ONE Prime NCD Allocation Ratio

Category NCD’s Allocated

NCD’s Offered by Category

Category NCD’s Reserved
Total NCD’s2,000,000

Company Promoters

  • 360 ONE WAM Limited

360 ONE Prime NCD Lead Manager

603, 6th Floor, Windsor Off CST Road,
Kalina Santacruz (East), Mumbai – 400 098 Maharashtra
Phone: +91 22 6754 6500
Email: 360oneprime.ncd2023@akgroup.co.in
Website: www.akgroup.co.in

7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone: +91 22 6630 3030
Email: 360oneprime.ncd2023@jmfl.com
Website: www.jmfl.com

24th Floor, One Lodha Place, Senapati Bapat Marg
Lower Parel (West) Mumbai – 400 013
Phone: +91 22 4646 4728
Email: 360oneprime.ncd@iiflcap.com
Website: www.iiflcap.com

360 ONE Prime Registrar

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: 360oneprime.ncd2023@linkintime.co.in
Website: www.linkintime.co.in

Company Contact Details

360 ONE Centre, Kamala City, Senapati Bapat Marg,
Lower Parel, Delisle Road, Mumbai – 400 013, Maharashtra
Phone: +91 22 4876 5600
Email: nbfc-compliance@360.one
Website: www.iiflwealthprime.com

Final Thoughts

Non-convertible debentures (NCDs) are a better investment option for those who are looking for a diversified portfolio. investing in 360 ONE Prime NCD is purely your personal choice. make a good study and analysis before you make the investment decision.

Happy Investing

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