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JM Financial Credit Solutions Limited NCD Dates, Size, Allotment, Subscription, DRHP & more

Let’s have a detailed review of the company and analytics of the JM Financial Credit Solutions Limited NCD release date, NCD issue size, subscription, JM Financial Credit Solutions NCD allotment and other details like the company’s background, its financial positions, its promoters and other related things.

Credit Rating ICRA AA/Stable by ICRA and AA/Stable by India Ratings
Issue Open November 20, 2018
Issue Close December 20, 2018
Issue Size (Base) Rs 2,500 million
Issue Size (Shelf) Rs 12,500 million
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 1 NCD
Listing At BSE
Tenor 42 months /60 months/ 120 months
Series Series I to Series VI
Payment Frequency Monthly, Cumulative and Annual
Basis of Allotment

JM Financial Credit Solutions Limited NCD – Basis of the Offer Price

ISSUE STRUCTURE
Security Name JM Financial Credit Solutions Limited
Security Type Secured, Non-Convertible Debentures and Unsecured NCDs
Coupon payment frequency Monthly, Cumulative and Annual
Coupon type Fixed
Tenor 42 months /60 months/ 120 months
Depository NSDL and CDSL
Disbursement SEBI Debt Regulations
Debenture Trustee IDBI Trusteeship Services Limited.

JM Financial Credit Solutions Limited NCD Dates

The opening and the closing date of JM Financial Credit Solutions Limited NCD is November 20, 2018 to December 20, 2018.


JM Financial Credit Solutions Limited NCD Subscription

Day / Date QIB Category 1 NII Category 2 HNI Category 3 RII Category 4 Total Subscription
1st – 10th Day : till 19th Sept
10th – 20th Day : till
20th – 30th Day : till
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.


JM Financial Credit Solutions Limited NCD Allotment Status

Here, you can find the Allotment Status of this NCD.


JM Financial Credit Solutions Limited NCD Share Offering

Issue of 5,22,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. [ ] per Equity Share (including a share premium of Rs.[ ] per Equity share) aggregating Rs. [ ] lakhs.

JM Financial Credit Solutions Limited NCD Allocation Ratio

NCD Allocation Ratio
Category NCD’s Allocated
QIB – Category 1 10%
NII – Category 2 10%
HNI – Category 3 40%
RII – Category 4 40%

JM Financial Credit Solutions Limited NCD Offered

NCD’s Offered
Category NCD’s Reserved
QIB – Category 1 20,00,000
NII – Category 2 20,00,000
HNI – Category 3 80,00,000
RII – Category 4 80,00,000
Total NCD’s 2,00,00,000

JM Financial Credit Solutions Limited NCD Coupon Rates

Terms and conditions in connection with Secured I II III IV V VI
NCDs Options
Frequency of Interest Payment Annual Cumulative Annual Monthly Annual Monthly
Who can apply All category of investors can subscribe to all Series of NCDs
Minimum Application Rs. 10,000 (10
NCDs)
Rs. 10,000
(10 NCDs)
Rs. 10,000 (10
NCDs)
Rs. 10,000 (10
NCDs)
Rs. 10,000
(10 NCDs)
Rs. 10,000 (10 NCDs)
In multiples of thereafter Rs. 1,000 (1
NCD)
Rs. 1,000 (1
NCD)
Rs. 1,000 (1
NCD)
Rs. 1,000 (1
NCD)
Rs. 1,000 (1
NCD)
Rs. 1,000 (1 NCD)
Face Value Rs. 1,000
Issue Price Rs. 1,000
Tenor from Deemed Date of Allotment 42 months 42 months 60 months 60 months 120 months 120 months
Coupon Rate 10.00% N.A. 10.10% 9.67% 10.25% 9.81%
Effective Yield (Per annum)***** 10.02% 10.00% 10.09% 10.10% 10.24% 10.25%
Mode of Interest Payment Through various options available
Redemption Amount (Rs. / NCD)**** Rs. 1,000.00 Rs. 1,396.15 Rs. 1,000.00 Rs. 1,000.00 Rs. 1,000.00 Rs. 1,000.00
Maturity Date (From Deemed Date of Allotment) 42 months 42 months 60 months 60 months 120 months 120 months
Nature of indebtedness Secured rated listed non-convertible debentures

JM Financial Credit Solutions Limited NCD Issue Object

These are the NCD Issue Objects of the company

  • For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company; and
  • General corporate purposes

JM Financial Credit Solutions Limited – Company Overview

They are a Systemically Important Non – Deposit taking Non –Banking Financial Company (“NBFC ND – SI”) forming part of the JM Financial group. They are a wholesale finance NBFC and provide integrated financial solutions to real estate developers with a focus on residential project financing such as funding real estate developers at various stages in the life cycle of a real estate project.

They commenced lending to real estate developers in 2014 and their clients are located in Mumbai, Pune, Bengaluru, Chennai, Hyderabad, NCR and Kolkata. For the Fiscal 2018, their loan book stood at ₹ 73,388.8 million as compared to ₹ 56,581.5 million as of Fiscal 2017. They provide secured and unsecured lending to the real estate developers.

Their product portfolio consists of –

  • Project finance: This includes offering loans to developers for construction of residential or commercial projects.
  • Loans against property: This includesloans against the residential or commercial properties with occupation certificate.
  • Loans against shares: This includes loans to investors against the listed or unlisted shares of corporates;
  • Project at early stage loans: This is primarily undertaken against projects which are expected to be launched soon; and
  • Loans against land: This funding is primarily undertaken for land acquisition or against land parcels which are not expected to be launched in the near future. These parcels are mostly without approvals at the time of funding.

JM Financial Credit Solutions Limited NCD Lead Managers

Lead Managers
A. K. Capital Services Limited

JM Financial Limited

Edelweiss Financial Services Limited

Trust Investment Advisors Private Limited


JM Financial Credit Solutions Limited NCD Debenture Trustee

Debenture Trustee
IDBI Trusteeship Services Limited
Asian Building, Ground Floor,
17, R. Kamani Marg, Ballard Estate,
Mumbai 400 001
Tel: (+91 22) 4080 7000
Fax: (+91 22) 6631 1776
Email: [email protected]
Investor Grievance Email: [email protected]
Website: www.idbitrustee.com
Contact Person: Ms. Swapnali Hirlekar
SEBI Registration No.: IND000000460

JM Financial Credit Solutions Limited NCD Registrar to offer

Registrar to the Offer
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot
31-32, Gachibowli Financial District, Nanakramguda,
Hyderabad 500 032
Tel: (+91 40) 6716 2222
Fax: (+91 40) 2343 1551
Email: [email protected]
Investor Grievance Email: [email protected]
Website: www.karisma.karvy.com
Contact Person: Mr. Murali Krishna
Compliance Officer: Mr. Rakesh Santhalia
SEBI Registration No.: INR000000221

JM Financial Credit Solutions Limited NCD Ratings

The NCDs have been rated [ICRA] AA/Stable by ICRA for an amount of upto Rs 20,000 million vide its letter dated April 27, 2018 and further revalidated on November 1, 2018, and have been rated IND AA/Stable by India Ratings for an amount upto Rs 20,000 million vide its letter dated April 27, 2018 which has been revalidated on November 1, 2018.

The rating of the NCDs by ICRA and India Ratings indicates high degree of safety regarding timely servicing of financial obligations.


JM Financial Credit Solutions Limited NCD News

News 1 – Download RHP Prospectus


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