JM Financial Products Limited (the “Company”), a “Systemically Important Non – Deposit Taking NBFC” (NBFC-ND-SI) registered with the Reserve Bank of India, plans to raise funds through a public issue of non-convertible debentures (NCDs) of Rs. 200 crores.
The Company is an NBFC-ND-SI focused on offering a broad suite of secured and unsecured loan products which are customized to suit the needs of the corporates, SMEs and individuals. The Company broadly operates under four verticals viz. (i) fixed income division (structured financing) (“FID (structured financing)”); (ii) fixed income division (real estate financing) (“FID (real estate financing)”); (iii) capital market financing; and (iv) SME financing.
The Company is offering an effective yield ranging from 9.89% to 10.51% p.a*. The NCDs also offer a tenor varying from 24 months to 60 months, with an option to receive interest monthly or annually.
Here are the other key attributes of the NCDs:
- The Company plans to raise Rs. 200 crores with an option to retain oversubscription upto Rs. 800 crores aggregating upto Rs. 1,000 crores.
- Ratings - CRISIL AA/Stable by CRISIL and [ICRA] AA / (Stable) by ICRA - indicate high degree of safety regarding timely servicing of financial obligations.
- Minimum application size Rs. 10,000 collectively across all Series ranging from 24 to 60 months.
- Allotment on first-come, first-serve basis.
- Investors have an option to apply for NCDs only in dematerialized form.
- No TDS applicable for NCDs held in dematerialized form.
Note: The yield of 10.51% is only applicable for Series V, 60 months – Monthly option of the NCD
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