JM Financial Credit Solutions Limited NCD Dates, Size, Allotment, Subscription, DRHP & more
Last Updated Date: Sep 02, 2023Let’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: itsl@idbitrustee.com Investor Grievance Email: response@idbitrustee.com 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: jmfs.ncd@karvy.com Investor Grievance Email: einward.ris@karvy.com 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
Market Guide
Featured Topics