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Published on Thursday, January 5, 2023 by Dilip Davda
While we are passing through an interest rate hike scenario globally in a bid to curtail rising inflation, the Calendar year (CY) 2023 started with a big bang as far as debt issues are concerned. We have altogether five (5) NCD issues in the first month of CY 2023. While on our website we have given a detailed review of all the five NCD offers, but to facilitate glance info of these debt issues, we are giving below the comparison table for all of them.
Hope, this will provide the necessary info to investors looking for steady returns.
Company |
Muthoot Fincorp |
Edelweiss Finance |
Indiabulls Commercial |
IIFL Finance |
Incred Financial |
---|---|---|---|---|---|
Type of Instrument |
Secured Redeemable NCD |
Secured Redeemable NCD |
Secured Redeemable NCD |
Secured Redeemable NCD |
Secured Redeemable NCD |
Opening date |
1/2/2023 |
1/3/2023 |
1/5/2023 |
1/6/2023 |
1/9/2023 |
Closing date |
1/27/2023 |
1/23/2023 |
1/27/2023 |
1/18/2023 |
1/27/2023 |
FV |
Rs. 1000.00 |
Rs. 1000.00 |
Rs. 1000.00 |
Rs. 1000.00 |
Rs. 1000.00 |
Minimum Application |
10 NCDs |
10 NCDs |
10 NCDs |
10 NCDs |
10 NCDs |
Additional lot |
1 NCD |
1 NCD |
1 NCD |
1 NCD |
1 NCD |
Ratings |
CRISIL AA-/Stable |
Acuite AA -, CRISIL AA - |
CRISL AA/Stable, ICRA AA/Stable |
CRISL AA/Stable, ICRA AA/Stable |
CRISIL A+/Stable |
Base Size |
Rs. 200 cr. |
Rs. 200 cr. |
Rs. 200 cr. |
Rs. 100 cr. |
Rs. 175 cr. |
Overall Size |
Rs. 400 cr. |
Rs. 400 cr. |
Rs. 400 cr. |
Rs. 1000 cr. |
Rs. 350 cr. |
Shelf Limit |
NA |
Rs. 1000 cr. |
Rs. 1000 cr. |
Rs. 5000 cr. |
NA |
Tenors |
27M, 38M, 48M, & 60M |
24M, 36M, 60M, & 120M |
24M, 36M, & 60M |
24M, 36M, & 60M |
27M & 39M |
Coupon Rates |
8.10% to 8.80% |
9.00% to 10.45% |
9.80% to 10.30% |
8.50% tp 9.00% |
9.45% to 10% |
Frequency of Interest Payment |
Monthly, Annual, Cumulative |
Monthly, Annual, Cumulative |
Monthly, Annual, Cumulative |
Monthly, Annual, Cumulative |
Quarterly, Annual |
Allocation |
Insti. 5%, Non Insti 35%, Retail 60% |
Insti. 10%, NII 10%, HNI 40%, Retail 40% |
Insti. 30%, NII 10%, HNI 30%, Retail 30% |
Insti. 10%, NII 10%, HNI 40%, Retail 40% |
Insti. 20%, NII 20%, HNI 30%, Retail 30% |
Lead Manager |
SMC Capital Ltd. |
Equirus Capital Ltd. |
Edelweiss Fin., Elara Capital, Trust Investment |
Edelweiss financial, IIFL Secur., Equirus Capital, Trust Investment Advisor |
JM Financial Ltd. |
Trustee |
Vardhman Trusteeship Pvt. Ltd. |
Beacon Trusteeship Ltd. |
Beacon Trusteeship Ltd. |
Vardhman Trusteeship Pvt.Ltd. |
Catalyst Trusteeship Ltd. |
Registrar |
Integrated Registrey |
KFin Technologies Ltd. |
KFin Technologies Ltd. |
Link Intime India Pvt. Ltd. |
Link Intime India Pvt. Ltd. |
Listing at |
BSE |
BSE |
BSE, NSE |
BSE, NSE |
BSE, NSE |
Recommendation |
May Apply |
May Apply |
May Apply |
May Apply |
Avoid |
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Investors should bear in mind that any investment in stock markets are subject to unpredictable market related risks. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
About Dilip Davda
Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.
Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.
Email: dilip_davda@rediffmail.com
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