KLM Axiva Finvest NCD opens for subscription on 22 July 2024. The company aims for a base issue size of ₹75 Crores.
About the company
Incorporated in 1997, KLM Axiva Finvest Ltd is a non-deposit-taking systemically important non-banking finance company (NBFC Middle Layer) primarily serving low- and middle-income individuals and businesses. KLM Axiva Finvest primarily operates in four business verticals:
- Gold Loans;
- Micro, small, and medium enterprise (MSME) loans;
- Personal loans, and;
- Microfinance loans to women customers.
As of March 31, 2024, March 31, 2023, and March 31, 2022, the company had an aggregate principal balance of ₹1,06,750.72 lakhs, ₹93,796.18 lakhs, and ₹62,546.94 lakhs of outstanding gold loans. The AUM in Gold, MSME, and Micro-Finance loans has increased at a CAGR of 30.59%, 13.28%, and 47.46%, from March 31, 2022, to March 31, 2024, respectively.
KLM Axiva Finvest’s product portfolio includes:
- Gold Loans: Loans against pledging of household gold jewelry by individuals.
- MSME Loans: Lending to small and medium-sized enterprises such as businessmen, manufacturers, traders, and self-employed professionals.
- Personal Loans: Loans to individual customers against tangible collaterals.
- Microfinance Loans: Lending money to women customers for personal and business needs.
- Vehicle Loans: 2 Wheeler loans to women customers.
As of March 31, 2024, the company has 670 branches across six states, namely Kerala, Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Maharashtra, managed through its corporate office in Kochi.
Objectives of the Issue
- For onward lending, financing and repayment/prepayment of principal and interest on existing borrowings; and
- General Corporate Purposes.
KLM Axiva Finvest NCD Details
| Issue Open | July 22, 2024 – August 2, 2024 |
| Security Name | KLM Axiva Finvest Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 75.00 Crores |
| Issue Size (Oversubscription) | ₹ 75.00 Crores |
| Overall Issue Size | ₹ 150.00 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 | 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 |
KLM Axiva Finvest NCD Options and 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.) | ₹1,000.00 | ₹1,135.00 | ₹1,000.00 | ₹1,000.00 | ₹1,000.00 | ₹1,000.00 | ₹1,000.00 | ₹1,000.00 | ₹1,000.00 | ₹2,000.00 |
KLM Axiva Finvest 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 ₹ 15,000 lakhs.
Company Financials
| Period Ended | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,960.34 | 1,719.30 |
| Revenue | 315.92 | 273.75 |
| Profit After Tax | 23.03 | 18.33 |
KLM Axiva Finvest NCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 75,000 |
| Non-Institutional | 300,000 |
| Retail | 375,000 |
| Category 4 | 0 |
| Total NCD’s | 750,000 |
Company Promoters
- Biji Shibu
KLM Axiva Finvest NCD Lead Manager
- Vivro Financial Services Private Limited
KLM Axiva Finvest Registrar
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: klmaxiva.ncd@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Company Contact Details
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
Phone: +91-40-3516 2071
Email: secretarial@klmaxiva.com
Website: https://klmaxiva.com/
KLM Axiva Finvest NCD Allotment Status
Final Thoughts
Non-convertible debentures (NCDs) are a better investment option for those seeking a diversified portfolio. investing in KLM Axiva Finvest NCD is purely your personal choice. make a good study and analysis before you make the investment decision.
Happy Investing
