JM Financial Credit Solution plans to raise funds up to Rs.1,250 crore through a public issue of secured redeemable non-convertible debentures (NCDs). The company is offering an attractive yield ranging from 9.67% to 10.25% pa. The NCDs also offer a tenure varying from 42 months to 10 years, with an option of annual or cumulative interest payouts.
The issue will open for subscription on November 20 and close on December 20, 2018.
IFAs can get brokerage of up to 2.45% depending on the category of investors and holding tenure. You can earn commission of 1.95%, 2.20% and 2.45% for 42 months, 5 and 10 years, respectively if the application size is up to Rs.10 lakh. Similarly, for the application size exceeding Rs.10 lakh, you can get commission of 1.70%, 1.95% and 2.20% for 42 months, 5 and 10 years, respectively.
In addition, you will get a special incentive of Rs.100 per application if you go online.
Here are the other key attributes of the NCDs:
Application size: The company plans to raise Rs.250 crore with an option to retain an additional Rs.1000 crore if the issue oversubscribes.
Credit Ratings: CRISIL and IND have assigned a rating of AA+/Stable.
Listing: BSE will list this NCD.
Earlier, the first tranche of the secured non-convertible debentures (NCD) of JM Financial Credit Solutions Limited got overwhelming response on the very first day of its issue. The issuer has received applications of Rs.1,500 crore against an issue size of Rs.750 crore on May 28.
JM Financial Credit Solutions, the NBFC arm of the JM Financial group, provides integrated financial solutions to real estate developers working on residential projects.
