Kosamattam Finance NCD opens for subscription on 08 April 2024. The company aims for a base issue size of ₹125 Crores.
About the company
The company is a systemically important non-deposit-taking NBFC primarily engaged in the Gold Loan business, lending money against the pledge of household jewellery (Gold Loans) in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Delhi, Maharashtra, Gujarat, Uttar Pradesh, and Telangana along with the Union Territory of Puducherry.
Its Gold Loan portfolio for FY 2023, 2022, and 2021, comprised 8,82,414; 8,10,711; and 7,18,836, respectively gold loan accounts. As of 31 March 2023, its gold loan portfolio stood at INR 4,454.08 crore which amounted to 98.68% of its total loan portfolio. As of 31 December 2023, the company had a network of 988 branches. It employed 3,818 persons in its business operations. Headquartered in Kottayam in Kerala, the company belongs to the Kosamattam Group led by Mathew K. Cherian.
It is registered with RBI as a systemically important, non-deposit-taking NBFC (Registration No. B-16.00117 dated 19 December 2013) under Section 45 IA of the RBI Act. Further, it also has a Full-Fledged Money Changers (FFMC) license bearing number FE.CHN.FFMC.40/2006 dated 7 February 2006, valid until 28 February 2025.
Objectives of the Issue
- For onward lending.
- For repayment of interest and principal of existing debts of the company.
- For general corporate purposes.
Kosamattam Finance NCD Details
| Issue Open | April 8, 2024 – April 23, 2024 |
| Security Name | Kosamattam Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹125 Crores |
| Issue Size (Oversubscription) | ₹125 Crores |
| Overall Issue Size | ₹250 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 | A-Stable by India Ratings & Research Private Limited (IRRPL) |
| Tenor | 18, 24, 30, 36, 39, 48, 54 and 88 Months |
| Series | Series I to VIII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vistra Itcl India Limited |
Kosamattam Finance NCD Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 18 months | Cumulative | NA | 8.52% | ₹ 1,130.50 |
| Series 2 | 24 months | Monthly | 8.75% | 9.11% | ₹ 1,000 |
| Series 3 | 30 months | Cumulative | NA | 9.00% | ₹ 1,240 |
| Series 4 | 36 months | Monthly | 9.50% | 9.92% | ₹ 1,000 |
| Series 5 | 39 months | Cumulative | NA | 9.42% | ₹ 1,340 |
| Series 6 | 48 months | Monthly | 10.00% | 10.47% | ₹ 1,000 |
| Series 7 | 54 months | Cumulative | NA | 9.43% | ₹ 1,500 |
| Series 8 | 88 months | Cumulative | NA | 9.91% | ₹ 2,000 |
Kosamattam Finance NCD Rating
The NCDs proposed to be issued under this Issue have been rated ‘A-Stable’, by India Ratings & Research Private Limited.
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 5,444.34 | 4,568.89 |
| Revenue | 782.54 | 624.79 |
| Profit After Tax | 107.05 | 80.00 |
Kosamattam Finance NCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 125,000 |
| Non-Institutional | 125,000 |
| HNI | 375,000 |
| Retail | 625,000 |
| Total NCD’s | 1,250,000 |
Company Promoters
- Mathew K. Cherian
- Laila Mathew
- Jilu Saju Varghese
Lead Manager
SMC CAPITALS LIMITED
A-401/402, Lotus Corporate Park,
Off Western Express Highway,
Jai Coach Signal, Goregaon (East),
Mumbai – 400063, Maharashtra
Phone: +91 22 66481818
Email: kfl.ncd@smccapitals.com
Website: www.smccapitals.com
Kosamattam Finance 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: kosamattam.ncd@kfinech.com
Website: www.kfintech.com
Company Contact Details
KOSAMATTAM FINANCE LIMITED
Kosamattam City Centre,
Floor Number 4th & 5th, T.B Road,
Kottayam – 686001, Kerala
Phone: +91 481 258 6400
Email: cs@kosamattam.com
Website: www.kosamattam.com
Kosamattam Finance NCD Allotment Status
Kosamattam Finance NCD April 2024 allotment status will be updated on the KFin Technologies’ website. Click on this link to get allotment status.
Final Thoughts
Non-convertible debentures (NCDs) are a better investment option for those seeking a diversified portfolio. investing in Kosamattam Finance NCD is purely your personal choice. make a good study and analysis before you make the investment decision.
Happy Investing
