The Tranche I issue offers various series of NCDs for subscription with coupon rates ranging from 8.25 percent per annum to 8.40 percent per annum The minimum application size would be Rs 10,000 (i.e., 10 NCDs) and thereafter in multiples of Rs 1,000 (i.e. 1 NCD) thereof.
The NCDs under the Tranche I Issue are being offered with maturity/tenure options of 22 months, 37 months, and 60 months with annual and cumulative payment options across series I, II, III, IV, V, and VI. Effective yield (per annum) for the NCD holders in all categories of Investors ranges from 8.25 percent per annum to 8.40 percent per annum.
The amount on redemption on maturity for the NCD holders in all categories of investors under the cumulative coupon payment option ranges from Rs 1,156.64 to Rs 1,497.40 per NCD across various tenures.
Out of the net proceeds of the Tranche I issue, after meeting the expenditures of and related to the Tranche I issue, at least 75 percent shall be utilised for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the company and up to 25 percent for general corporate purposes.
A.K. Capital Services Ltd is the sole lead manager for the issue. IDBI Trusteeship Services Ltd is the debenture trustee to the issue and KFin Technologies Ltd is the registrar.
(Edited by : Shoma Bhattacharjee)