Let’s have a detailed review of the company and analytics of the Manappuram Home Finance NCD release date, NCD issue size, subscription, Manappuram Home Finance NCD allotment and other details like the company’s background, its financial positions, its promoters and other related things.
Manappuram Home Finance NCD – September 2019 Detail
|Credit Rating||CARE AA-/Stable|
|Issue Open||Sep 30, 2019|
|Issue Close||Oct 29, 2019|
|Issue Size (Base)||Rs 100.00 Crores|
|Issue Size (Shelf)||Rs 100.00 Crores|
|Issue Price||Rs 1000 per NCD|
|Face Value||Rs 1000 each NCD|
|Minimum Lot size||10 NCD|
|Market Lot||1 NCD|
|Tenor||36 months/ 60 months/ 2500 days|
|Series||Series I to Series VII|
|Payment Frequency||Monthly, Annual and Cumulative|
|Basis of Allotment||First Come First Serve Basis|
Manappuram Home Finance NCD – Basis of the Offer Price
|Security Name||Manappuram Home Finance Limited|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)|
|Coupon payment frequency||Monthly, Annual and Cumulative|
|Tenor||36 months/ 60 months/ 2500 days|
|Depository||NSDL and CDSL|
|Disbursement||SEBI Debt Regulations|
|Debenture Trustee||Catalyst Trusteeship Limited|
Manappuram Home Finance NCD Dates
The opening and the closing date of Manappuram Home Finance NCD is Sep 30, 2019 to Oct 29, 2019.
Manappuram Home Finance NCD Subscription
|Day / Date||QIB Category 1||NII Category 2||HNI Category 3||RII Category 4||Total Subscription|
|1st – 10th Day: till Oct 11, 2019||0.00x||0.23x||0.68x||–||0.43x|
|10th – 20th Day: till Oct 24, 2019||0.01x||0.61x||1.69x||–||1.09x|
|20th – 30th Day: till Oct 29, 2019||0.01x||0.91x||2.02x||–||1.38x|
|Shares Offered or Net Issue||100,000||400,000||500,000||–||1,000,000|
The shares subscribed by the public will be updated here.
Manappuram Home Finance NCD Allotment Status
Here, you can find the Allotment Status of this NCD.
Manappuram Home Finance 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.
Manappuram Home Finance NCD Allocation Ratio
|NCD Allocation Ratio|
|QIB – Category 1||10%|
|NII – Category 2||40%|
|HNI – Category 3||50%|
|RII – Category 4||0%|
Manappuram Home Finance NCD Offered
|QIB – Category 1||100,000|
|NII – Category 2||400,000|
|HNI – Category 3||500,000|
|RII – Category 4||NA|
Manappuram Home Finance NCD Coupon Rates
|Frequency of Interest Payment||Monthly||Annually||Cumulative||Monthly||Annually||Cumulative||Cumulative|
|Minimum Application||10 NCDs (Rs. 10,000) (across all options of NCDs)|
|In multiples, of||1 NCD after the minimum application|
|Face Value of NCDs (Rs. /NCD)||Rs. 1,000|
|Issue Price (Rs. /NCD)||Rs. 1,000|
|Mode of Interest Payment/|
|Through various options available|
|Coupon (%) per annum||9.75%||10.00%||NA||10.25%||10.65%||NA||NA|
|Redemption Amount (Rs. /NCD) for Debenture Holders||1,000||1,000||1,331||1,000||1,000||1,659||2,000|
|Effective Yield (%)(per annum)||10.20%||10.00%||10.00%||10.75%||10.65%||10.65%||10.65%|
|Put and Call Option||Not applicable|
|Deemed Date of Allotment||The date on which the Board or the Debenture Committee approves the Allotment of NCDs. All benefits relating to the NCDs including interest on the NCDs shall be available to the Investors from the Deemed Date of Allotment. The actual Allotment of NCDs may take place on a date other than the Deemed Date of Allotment|
Manappuram Home Finance NCD Issue Object
These are the NCD Issue Objects of the company
- For the purpose of onward lending, financing and repayment of interest and principal of existing borrowings; and
- For General Corporate Purposes.
Manappuram Home Finance Limited – Company Overview
They are focused on providing affordable housing finance for the EWS, LIG and MIG segment primarily in Tier II and Tier III cities and towns in India.
It offers two products namely Home Loan and Loan Against Property (“LAP”). They provide secured finance primarily to individual customers with focus on self-employed (professionals & nonprofessionals) and salaried (informal segment) for purchase, self-construction, improvement and extension of homes, new and resalable flats, balance transfer of existing loans, commercial properties (purchase/ LAP) and composite loan (land and construction).
The Promoter, Manappuram Finance Limited (“MAFIL”) is a systemically important non-deposit taking NBFC primarily focusing on providing loans against the pledge of household and/or used gold jewellery and providing shortterm personal and business gold loan to individual customers.
The Company has strengthened its presence in its area of operations with an emphasis on the unserved and under-served customer segments. As on March 31, 2019, the average ticket size of a Home Loan was Rs. 10.15 lakhs and for the LAP was Rs. 7.22 lakhs with an average tenure of loans being, approximately 16 years and 11 years, respectively.
The loan products are secured by creating a mortgage primarily on the properties for which they have provided finances. As on March 31, 2019, the total Home Loans provided by them was aggregating to Rs. 37,735.31 lakhs and comprised of 72.74% of the AUM. In addition, they also provide their customers with loans against property by allowing them to mortgage their property with them.
As on March 31, 2019, the total non-home loan AUM, including LAP, aggregate to Rs. 14,140.50 lakhs and comprised of 27.26% of the total AUM. They had 6184, 3957 and 2887 borrowers as at March 31, 2019, March 31, 2018 and March 31, 2017, respectively. Further, their AUM as at March 31, 2019 based on IND AS consisted of Rs. 51,875.81 lakhs and their AUM as at March 31, 2018 and March 31, 2017 based on Indian GAAP consisted Rs. 37,466.11 lakhs and Rs. 31,001.41 lakhs, respectively.
The gross non-performing assets as a percentage of their AUM as at March 31, 2019 based on IND AS stood at 3.85% and their gross NPA as a percentage of their AUM as at March 31, 2018 and March 31, 2017, based on Indian GAAP, stood at 4.77% and 1.49% respectively.
The net non-performing assets as a percentage of their AUM as at March 31, 2019 based on IND AS stood at 3.05% and their net non-performing assets as a percentage of their AUM as at March 31, 2018 and March 31, 2017 based on Indian GAAP stood at 3.95% and 1.26% respectively.
Its total borrowings as of March 31, 2019, were Rs. 34,620.60 lakhs. The average cost of borrowings as a percentage of weighted average borrowings was 9.65%.
Manappuram Home Finance NCD Lead Managers
|VIVRO FINANCIAL SERVICES PRIVATE LIMITED|
607/608 Marathon Icon, Opp. Peninsula Corporate Park,
Off. Ganpatrao Kadam Marg, Veer Santaji Lane,
Lower Parel, Mumbai – 400 013
Telephone: +91 – 22 – 6666 8040/41/42
Fax: +91 – 22 – 6666 8047
Investor Grievance Email: firstname.lastname@example.org
Contact Person: Harish Patel/ Yogesh Malpani
Compliance Officer: Jayesh Vithlani
SEBI Registration No.: INM000010122
Manappuram Home Finance NCD Debenture Trustee
|CATALYST TRUSTEESHIP LIMITED|
(formerly GDA Trusteeship Limited)
GDA House, Plot No. 85,
Bhusari Colony (Right),
Kothrud, Pune 411038
Telephone: +91 – 22 – 4922 0543;
Fax: +91 – 22 – 4922 0505
Contact Person: Umesh Salvi
SEBI Registration Number: IND000000034
Manappuram Home Finance NCD Registrar to offer
|Registrar to the Offer|
|LINK INTIME INDIA PRIVATE LIMITED|
C-101, 1st Floor, 247 Park, L.B.S. Marg,
Vikhroli (West), Mumbai-400 083,
Telephone: +91 – 22 – 4918 6200
Fax: +91 – 22 – 4918 6195
Investor Grievance Id: email@example.com
Contact Person: Shanti Gopalkrishnan
Compliance Officer: B.N. Ramakrishnan
SEBI Registration Number: INR000004058
Manappuram Home Finance NCD Ratings
The NCDs proposed to be issued under this Issue have been rated “CARE AA-; Stable” (AA minus; Outlook Stable) by CARE Ratings Limited (“CARE Ratings”) for an amount up to Rs. 20,000 lakhs, vide its letter dated August 26, 2019 and revalidated letter dated September 16, 2019 and the Rating Rationale letter dated August 28, 2019.
The rating of NCDs by CARE Ratings indicates that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
The ratings provided by CARE Ratings Limited may be suspended, withdrawn or revised at any time by the assigning rating agency and should be evaluated independently of any other rating. These ratings are not a recommendation to buy, sell or hold securities and Investors should take their own decisions.
Manappuram Home Finance NCD News
News 1 – Download RHP Prospectus
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