Chemmanur Credits and Investments NCD is open for subscription from 16 October 2023. The company aims for a base issue size of ₹50 Crores.
About the company
Chemmanur Credits and Investments is a non-deposit-taking, non-banking financial company (base layer) registered with the RBI. It is primarily engaged in the gold loan sector lending money against the pledge of household gold jewelry (‘Gold Loans’). It also provides microfinance loans, business and personal loans, money transfer services, and distribution of third-party insurance products.
The company has been engaged in the lending business for more than 13 years and is based in Kerala, India. As of 30 September 2023, the company operated through 222 branches located across 5 states namely Kerala, Tamil Nadu, Andhra Pradesh, Maharashtra, and Karnataka managed through its registered office located at Thrissur, Kerala, and employed 1,172 persons in its business operations.
The company is a part of Boby Chemmanur Group which is engaged in a diverse range of businesses and is based in Kerala, India. The group has retail gold jewellery showrooms in the USA and the Middle East apart from those in India. The Boby Chemmanur Group has received BIS certification for the purity of gold. For the three months ended 30 June 2023, and FY 2023, 2022, and 2021, Chemmanur Credits and Investments held 0.85 tonnes, 0.86 tonnes, 0.87 tonnes, and 0.87 tonnes of gold jewelry respectively, as security for all gold loans.
Objectives of the Issue
- For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company.
- General corporate purposes.
Chemmanur Credits and Investments NCD Details
| 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) | ₹50 Crores |
| Issue Size (Shelf) | ₹100 Crores |
| Issue Price | ₹1000 per NCD |
| Face Value | ₹1000 for 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 |
Chemmanur Credits and Investments NCD Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 366 days | Monthly | 9.50% | 9.92% | ₹1,000 |
| Series 2 | 18 months | Monthly | 10.50% | 11.02% | ₹1,000 |
| Series 3 | 24 months | Monthly | 10.75% | 11.30% | ₹1,000 |
| Series 4 | 36 months | Monthly | 11.00% | 11.57% | ₹1,000 |
| Series 5 | 60 months | Monthly | 11.50% | 12.13% | ₹1,000 |
| Series 6 | 12 months | Cumulative | NA | 9.50% | ₹1,095 |
| Series 7 | 24 months | Cumulative | NA | 10.75% | ₹1,226.56 |
| Series 8 | 74 months | Cumulative | NA | 11.90% | ₹2,000 |
Chemmanur Credits and Investments NCD Rating
The NCDs proposed to be issued have been rated ‘CRISIL BBB-/Stable’ by CRISIL Ratings Limited.
Chemmanur Credits and Investments Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 499.42 | 430.46 | 384.99 |
| Revenue | 83.21 | 73.49 | 74.74 |
| Profit After Tax | 0.80 | 2.66 | 9.24 |
| Net Worth | 85.32 | 88.05 | 87.94 |
| Reserves and Surplus | 27.41 | 28.05 | 27.94 |
Chemmanur Credits and Investments NCD Allocation Ratio
Company Promoters
- Chemmanur Devassykutty Boby
Chemmanur Credits and Investments NCD Lead Manager
VIVRO FINANCIAL SERVICES PRIVATE LIMITED
607/608 Marathon Icon, Opp. Peninsula
Corporate Park Off. Ganpatrao Kadam Marg,
Veer Santaji Lane, Lower Parel,
Mumbai-400 013, Maharashtra, India
Phone: +91 22 6666 8040/41/42
Email: investors@vivro.net
Website: www.vivro.net
Chemmanur Credits and Investments Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot No – 31 & 32,
Financial District, Nanakramguda,
Serilingampally, Hyderabad Rangareddi,
500 032, Telangana, India
Phone: +91 40 6716 2222
Email: ccil.ncdipo@kfintech.com
Website: www.kfintech.com
Company Contact Details
CHEMMANUR CREDITS AND INVESTMENTS LIMITED
Mangalodhayam Building, Round South
Thrissur – 680001 Kerala, India
Phone: +910487-6621200/2424010
Email: mail@chemmanurcredits.com
Website: www.chemmanurcredits.com
Final Thoughts
Non-convertible debentures (NCDs) are a better investment option for those who are looking for a diversified portfolio. investing in Chemmanur Credits and Investments NCD is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing
