Chemmanur Credits and Investments NCD opens for subscription on 26 July 2024. The company aims for a base issue size of ₹40 Crores.
About the company
Chemmanur Credits and Investments Limited is a non-deposit-taking, non-banking financial company (base layer)registered with the RBI. The company is primarily engaged in the business of gold loans by lending money against the pledge of household gold jewellery (“Gold Loans”) in the states of Kerala, Tamil Nadu and Karnataka. The company also offers microfinance loans, business and personal loans, money transfer services and the distribution of insurance products for third parties.
As of December 31, 2023, the company had 236 branches in Kerala, Tamil Nadu, Karnataka, Maharastra and Andra Pradesh and employed 1,236 people. The company is part of the Boby Chemmanur Group, which operates in various business segments and is headquartered in Kerala, India. The Group operates gold jewellery businesses in India, the USA and the Middle East. The Boby Chemmanur Group has received BIS certification for the purity of gold.
Objectives of the Issue
- For the purpose of 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 | July 26, 2024 – August 8, 2024 |
| Security Name | Chemmanur Credits and Investments Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 40.00 Crores |
| Issue Size (Oversubscription) | ₹ 20.00 Crores |
| Overall Issue Size | ₹ 60.00 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 | 367 Days, 18, 24, 36, 60, and 70 Months |
| Series | Series I to IX |
| 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 Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 |
|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Monthly | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 367 Days | 18 Months | 24 Months | 36 Months | 60 Months | 367 Days | 24 Months | 60 Months | 70 Months |
| Coupon (% per Annum) | 9.50% | 10.75% | 11.00% | 11.25% | 12.00% | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 9.92% | 11.30% | 11.57% | 11.85% | 12.68% | 9.50% | 11.00% | 12.25% | 12.62% |
| Amount on Maturity (In Rs.) | ₹1,000.00 | ₹1,000.00 | ₹1,000.00 | ₹1,000.00 | ₹1,000.00 | ₹1,095.52 | ₹1,232.00 | ₹1,782.10 | ₹2,000.28 |
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 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 635.04 | 499.42 | 430.46 |
| Revenue | 106.14 | 83.21 | 73.49 |
| Profit After Tax | 1.72 | 0.80 | 2.66 |
| Net Worth | 81.35 | 82.62 | |
| Reserves and Surplus | 27.41 | 26.52 |
Chemmanur Credits and Investments NCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 40,000 |
| Non-Institutional | 160,000 |
| Retail | 200,000 |
| Category 4 | 0 |
| Total NCD’s | 400,000 |
Company Promoters
- Chemmanur Devassykutty Boby
Chemmanur Credits and Investments NCD Lead Manager
- Vivro Financial Services Private Limited
Chemmanur Credits and Investments NCD Registrar
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: ccil.ncdipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Company Contact Details
Chemmanur Credits and Investments Limited
Door No. D1 to D4, 3rd Floor,
Avenue Tower, East Fort,
Thrissur East, Thrissur – 680005
Phone: +91 487-7121200
Email: mail@chemmanurcredits.com
Website: http://www.chemmanurcredits.com
Chemmanur Credits and Investments NCD Allotment Status
Final Thoughts
Non-convertible debentures (NCDs) are a better investment option for those seeking 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
