Chemmanur Credits and Investments NCD opens for subscription on 20 March 2024. 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 also offers business loans named Gramin Shakthi Loan (Business Loans) to customers for their business needs.
The company has been engaged in the lending business for more than 13 years and is based in Kerala, India. As of 31 December 2023, the company operated through 236 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 1,236 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 half year ended 30 September 2023, and financial year 2023, 2022, and 2021, the company held 0.86 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 onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the company; and
- General corporate purposes.
Chemmanur Credits and Investments NCD Details
| Issue Open | February 20, 2024 – March 4, 2024 |
| Security Name | Chemmanur Credits and Investments Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹50 Crores |
| Issue Size (Oversubscription) | ₹50 Crores |
| Overall Issue Size | ₹100 Crores |
| Issue Price | ₹1000 per NCD |
| Face Value | ₹1000 each NCD |
| Minimum Lot Size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | IND BBB-/Stable by India Ratings and Research Private Limited. |
| Tenor | 365 Days, 18, 24, 36, 60, and 72 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
s
| 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 | 72 months | Cumulative | NA | 12.25% | ₹ 2,000.41 |
Chemmanur Credits and Investments NCD Rating
- The NCDs proposed to be issued under the Issue has been rated IND BBB-/Stable by India Ratings and Research Private Limited.
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 499.42 | 392.95 | 384.99 |
| Revenue | 83.21 | 73.33 | 74.74 |
| Profit After Tax | 0.80 | 4.31 | 9.24 |
| Net Worth | 87.41 | ||
| Reserves and Surplus | 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 / 18003094001
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 decision.
Happy Investing
