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Magma Fincorp Limited NCD Dates, Size, Allotment, Subscription, DRHP & more

Let’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 RatingBWR AA (stable) by Brickworks and ACUITE AA/Stable’ by Acuité
Issue OpenApril 8, 2019
Issue CloseMay 8, 2019
Issue Size (Base)Rs. 20,000 lakhs
Issue Size (Shelf)Rs. 50,000 lakhs
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE,NSE
Tenor3 year/ 5 year/ 10 year
SeriesSeries I to Series VII
Payment FrequencyMonthly and Annual
Basis of Allotment

Magma Fincorp Limited NCD – Basis of the Offer Price

ISSUE STRUCTURE
Security NameMagma Fincorp Limited
Security TypeSecured, Non-Convertible Debentures (NCDs)
Coupon payment frequencyMonthly and Annual
Coupon typeFixed
Tenor3 year/ 5 year/ 10 year
DepositoryNSDL and CDSL
DisbursementSEBI Debt Regulations
Debenture TrusteeCatalyst 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 / DateQIB Category 1NII Category 2HNI Category 3RII Category 4Total 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
CategoryNCD’s Allocated
QIB – Category 120%
NII – Category 220%
HNI – Category 330%
RII – Category 430%

Magma Fincorp Limited NCD Offered

NCD’s Offered
CategoryNCD’s Reserved
QIB – Category 110,00,000
NII – Category 210,00,000
HNI – Category 315,00,000
RII – Category 415,00,000
Total NCD’s50,00,000

Magma Fincorp Limited NCD Coupon Rates

SeriesIIIIIIIVVVIVII
Frequency of Interest
Payment
AnnualNAMonthlyAnnualNAMonthlyAnnual
Tenor3 year3 year5 year5 year5 year10 year10 year
Coupon (%)10.25%NA10.04%10.50%NA10.27%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 optionNA
Redemption Date3 years3 years5 years5 years5 years10 years10 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
Investor Grievance Email:[email protected]
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
Website:www.karvyfintech.com
Investor Grievance E-mail: [email protected]
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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