Vivriti Capital NCD opens for subscription on 18 August 2023. the company aims for a base issue size of ₹250 Crores.
About the company
Incorporated in 2017, Vivriti Capital offers lending products to mid-corporates. Such products include term loans, working capital demand loans, co-lending with financial partners, securitization of receivables, direct assignment of receivables, supply chain finance, and subscription to bonds and commercial paper to entities that are either unrated or have ratings that do not permit our clients to have easy access to banking finance and primarily hailing from urban/ semi-urban areas.
The company extends debt finance to mid-corporates across sectors including, without limitation, companies in the business of healthcare, pharma, logistics, retail, trading, steel, auto, manufacturing, financial services, and fast-moving consumer goods. The ticket size of these loans ranges from ₹0.10 lakh to ₹ 8,000.00 lakhs, with an average ticket size of less than ₹ 350.00 lakhs.
As of 31 March 2023, the company had total outstanding loan assets of ₹ 4508.73 crore and investments in bonds, securitizations, and commercial paper of ₹ 1327.07 crore. Vivriti had an AUM of ₹5835.80 crore as of 31 March 2023 and ₹3816.86 crore as of 31 March 2022 across 194 mid-corporates and 13.21 lakh borrowers/ clients through co-lending arrangements and 24 Anchors covering 183 MSME and non-MSME counterparties for supply chain finance as of 31 March 2023. Vivriti Capital has five regional offices in India in the states of Tamil Nadu, Maharashtra, Karnataka, Rajasthan, and Delhi.
Objectives of the Issue
- Onward lending, financing, and repayment of interest and principal of existing borrowings of the company,
- General corporate purposes.
Vivriti Capital NCD Details
| Issue Open | Aug 18, 2023 – Aug 31, 2023 |
| Security Name | Vivriti Capital Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | ₹ 250 Crores |
| Issue Size (Shelf) | ₹—-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 | ICRA A (Stable) by ICRA Limited and CARE A+ by CARE Ratings Limited |
| Tenor | 18 and 24 Months |
| Series | Series I to V |
| Payment Frequency | Monthly, Quarterly, and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 18 months | Monthly | 9.57% | 9.98% | ₹ 1,000 |
| Series 2 | 18 months | Annual | 10.00% | 10.06% | ₹ 1,000 |
| Series 3 | 24 months | Quarterly | 9.65% | 9.98% | NA |
| Series 4 | 24 months | Monthly | 10.03% | 10.49% | ₹ 1,000 |
| Series 5 | 24 months | Annual | 10.50% | 10.48% | ₹ 1,000 |
NCD Rating
The company has received a rating of ICRA A (Stable) by ICRA Limited and CARE A+ by CARE Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
Company Financials
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 1,468.10 | 2,213.35 | 6,797.59 | 8,457.42 |
| Revenue | 148.85 | 245.67 | 2,417.28 | 703.59 |
| Profit After Tax | 9.63 | 14.42 | 1,579.09 | 134.89 |
NCD Allocation Ratio
Company Promoters
- Vineet Sukumar
- Gaurav Kumar
NCD Lead Manager
JM FINANCIAL LIMITED
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025, Maharashtra, India
Phone: +91 22 6630 3030
Email: vcl.ncdissue2023@jmfl.com
Website: www.jmfl.com
NCD Registrar
INTEGRATED REGISTRY MANAGEMENT SERVICES PRIVATE LIMITED
II Floor, “Kences Towers” No.1 Ramakrishna Street,
North Usman Road, T Nagar, Chennai 600 017, Tamil Nadu, India
Phone: 044-28140801/802/ 803
Email: yuvraj@intergratedindia.in
Website: www.integratedindia.in
Company Contact Details
VIVRITI CAPITAL LIMITED
Prestige Zackria Metropolitan No. 200/1-8, 2nd Floor,
Block -1, Annasalai, Chennai 600 002, Tamil Nadu, India
Phone: +91 44 4007 4800
Email: contact@vivriticapital.com
Website: www.vivriticapital.com
Final Thoughts
Non-Convertible Debentures (NCD) are a better investment option for those who are looking for a diversified portfolio. investing in Vivriti Capital NCD is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing
