Magma Fincorp Limited NCD Dates, Size, Allotment, Subscription, DRHP & more
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Magma Fincorp Limited NCD release date, NCD issue size, subscription, Magma Fincorp NCD allotment and other details like the company’s background, its financial positions, its promoters and other related things.
| Credit Rating | BWR AA (stable) by Brickworks and ACUITE AA/Stable’ by Acuité |
| Issue Open | April 8, 2019 |
| Issue Close | May 8, 2019 |
| Issue Size (Base) | Rs. 20,000 lakhs |
| Issue Size (Shelf) | Rs. 50,000 lakhs |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE,NSE |
| Tenor | 3 year/ 5 year/ 10 year |
| Series | Series I to Series VII |
| Payment Frequency | Monthly and Annual |
| Basis of Allotment |
Magma Fincorp Limited NCD – Basis of the Offer Price
| ISSUE STRUCTURE | |
| Security Name | Magma Fincorp Limited |
| Security Type | Secured, Non-Convertible Debentures (NCDs) |
| Coupon payment frequency | Monthly and Annual |
| Coupon type | Fixed |
| Tenor | 3 year/ 5 year/ 10 year |
| Depository | NSDL and CDSL |
| Disbursement | SEBI Debt Regulations |
| Debenture Trustee | Catalyst Trusteeship Limited |
Magma Fincorp Limited NCD Dates
The opening and the closing date of Magma Fincorp Limited NCD is April 8, 2019 to May 8, 2019.
Magma Fincorp 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.
Magma Fincorp Limited NCD Allotment Status
Here, you can find the Allotment Status of this NCD.
Magma Fincorp 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.
Magma Fincorp Limited NCD Allocation Ratio
| NCD Allocation Ratio | |
| Category | NCD’s Allocated |
| QIB – Category 1 | 20% |
| NII – Category 2 | 20% |
| HNI – Category 3 | 30% |
| RII – Category 4 | 30% |
Magma Fincorp Limited NCD Offered
| NCD’s Offered | |
| Category | NCD’s Reserved |
| QIB – Category 1 | 10,00,000 |
| NII – Category 2 | 10,00,000 |
| HNI – Category 3 | 15,00,000 |
| RII – Category 4 | 15,00,000 |
| Total NCD’s | 50,00,000 |
Magma Fincorp Limited NCD Coupon Rates
| Series | I | II | III | IV | V | VI | VII |
| Frequency of Interest Payment |
Annual | NA | Monthly | Annual | NA | Monthly | Annual |
| Tenor | 3 year | 3 year | 5 year | 5 year | 5 year | 10 year | 10 year |
| Coupon (%) | 10.25% | NA | 10.04% | 10.50% | NA | 10.27% | 10.75% |
| Effective Yield (per annum) |
10.24% | 10.24% | 10.50% | 10.49% | 10.50% | 10.76% | 10.74% |
| Redemption amount | ₹1,000 | ₹1,340.10 | ₹1,000 | ₹1,000 | ₹1,648.19 | ₹1,000 | ₹1,000 |
| Put and call option | NA | ||||||
| Redemption Date | 3 years | 3 years | 5 years | 5 years | 5 years | 10 years | 10 years |
| Minimum Application | ₹ 10,000 (10 NCDs) across all Series collectively | ||||||
| In multiples of thereafter |
₹ 1,000 (1 NCD) | ||||||
| Face Value | ₹ 1,000 | ||||||
| Mode of Interest Payment |
Through various options available | ||||||
Magma Fincorp 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
Magma Fincorp Limited – Company Overview
They are a non-banking finance company, incorporated on December 18, 1978 as ARM Group Enterprises Private Limited. Subsequently, the Company was converted into a public limited company in 1980 and the name of the Company was subsequently changed to Magma Leasing Limited in 1993. In 2008, the Company name was changed to Magma Fincorp Limited.
They commenced their financing business in 1989, and have almost three decades of experience in such business. They are engaged in providing asset-backed financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles, mortgage financing, financing to SMEs and distribution of general insurance products. Their customers include first-time buyers of vehicles, self-employed and non-professional individuals, small and medium entrepreneurs and customers with informal income and limited banking and credit history.
As of December 31, 2018, they had around 12lakh active customers, of which approximately 4lakh active customers were in their financing businesses and approximately 8lakh active customers in their insurance business. They have a widespread branch network that forms an integral part of their ability to service their customers. As of December 31, 2018, they had a presence across 21States in India through 309branches.
Magma Fincorp Limited NCD Lead Managers
| Lead Managers |
| A. K. Capital Services Limited
Edelweiss Financial Services Limited |
Magma Fincorp Limited NCD Debenture Trustee
| Debenture Trustee |
|
Catalyst Trusteeship Limited
‘GDA House’, Plot No. 85,
Bhusari Colony (Right),
Kothrud, Pune 411038
Maharashtra, India
Tel:+91 22 4922 0543
Fax:+ 91 22 4922 0505
Email:ComplianceCTL-Mumbai@ctltrustee.com
Investor Grievance Email:grievance@ctltrustee.com
Website:www.catalysttrustee.com
Contact Person: Umesh Salvi
SEBI Registration No.: IND000000034
|
Magma Fincorp Limited NCD Registrar to offer
| Registrar to the Offer |
|
Karvy Fintech Private Limited
Karvy Selenium,Tower B,
Plot No. 31-32, Financial District,
Nankramguda, Serilingampally,
Hyderabad Rangareddi TG 500 032
India
Tel:+91 40 6716 2222
Fax:+91 40 2343 1551
E-mail:magmafincorp.ncd@karvy.com
Website:www.karvyfintech.com
Investor Grievance E-mail: einward.ris@karvy.com
Contact person: M Murali Krishna
SEBI Registration No.
: INR000000221
|
Magma Fincorp Limited NCD Ratings
The NCDs proposed to be issued under this Issue have been rated ‘BWR AA (Outlook: Stable)’ by Brickworks Ratings India Private Limited (“Brickworks”) for an amount of up to ₹ 1,00,000 lakhs vide its letter dated December 21, 2018 and revalidated by the revalidation letter dated March 28, 2019 and ‘ACUITE AA/Stable’ by AcuitéRatings & Research Limited (“Acuité”)for an amount of up to₹ 1,00,000 lakhs vide its letter dated December 28, 2018and revalidated by the revalidation letter dated March 28, 2019.
The rating of the NCDs by Brickworks and Acuitéindicate that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.
Magma Fincorp Limited NCD News
News 1 – Download RHP Prospectus
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