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Incorporated in 1987, Kerala based Kosamattam Finance Limited is a non-deposit taking NBFC and works as a gold loan provider against the household gold jewellery across some states in India. The company has a reach in Union Territory of Puducherry, Maharashtra, Delhi, Andhra Pradesh, Karnataka, Telangana, Gujarat, Tamil Nadu, and Kerala.
Kosamattam Finance Limited is registered with RBI as an NBFC and also has a Full-Fledged Money Changers (FFMC) license valid till 29th Feb 2020. The company also holds a certificate of registration to work as a Depository Participant and Corporate Agent.
Offered Services
The gold loan is the primary business of the company. The company also provides other miscellaneous services such as air ticketing, agriculture, power generation, foreign currency exchange, money transfer, and microfinance services.
Total Income
It has generated total income of Rs 43,060.86 lakhs, Rs 35,225.23 lakhs, Rs 34,569.97 lakhs, Rs 25,754.43 lakhs and Rs 26,186.8 lakhs for the FY 2018, 2017, 2016, 2015 and 2014, respectively.
Credit Rating For Current NCD Issue
The currently proposed NCDs of the company are rated IND BBB by India Ratings & Research Private Limited as on 14th March 2019 stating moderate credit risk.
The company strengths:
1. Strong customer base
2. Good network across some Indian states
3. Efficient IT Infrastructure in branches
4. An effective risk management system
| Issue Open | March 29, 2019 - April 26, 2019 |
| Security Name | Kosamattam Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs) |
| Issue Size (Base) | Rs 150.00 Crores |
| Issue Size (Shelf) | Rs 150.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | IND BBB/Stable |
| Tenor | 18 months/24 months/36 months/48 months/60 months |
| Series | Series 1 to Series 8 |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Category 1 | 10% |
| Category 2 | 40% |
| Category 3 | 50% |
| Category |
NCD's Reserved |
|---|---|
| Category 1 | 150,000 |
| Category 2 | 600,000 |
| Category 3 | 750,000 |
| Category 4 | 0 |
| Total NCD's | 1,500,000 |
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | |
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Cumulative | Monthly | monthly | Cumulative | Cumulative | Monthly | Monthly | Cumulative |
| Tenor | 18 months | 24 months | 36 months | 36 months | 48 months | 60 months | 84 months | 84 months |
| Coupon Rate (Retail) | NA | 9.75% | 10.00% | NA | NA | 10.00% | 10.25% | NA |
| Amount on Maturity | Rs 1,135 | Rs 1,000 | Rs 1,000 | Rs 1,350 | Rs 1,500 | Rs 1,000 | Rs 1,000 | Rs 2,000 |
The NCDs proposed to be issued under this Issue have been rated 'IND BBB', by India Ratings & Research Private Limited ("India Ratings") for an amount up to 30,000 lakhs, including the unsecured portion of up to 2,500 lakhs vide its letter dated March 14, 2019. The rating of NCDs by India Ratings indicates that instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.
The Promoters of the Company are:
1. Mathew K. Cherian;
2. Laila Mathew; and
3. Jilu Saju Varghese
Objects of the issue are:
1. For the purpose of onward lending;
2. Repayment of interest and principal of existing loans; and
3. General Corporate Purposes;
The Kosamattam Finance NCD March 2019 was subscribed 1.47 times on April 26, 2019 5:00:00 PM. The NCD subscribed .
| Category ? | Subscription (times) |
|---|---|
| Category 3 | 1.92x |
| Category 2 (NII) | 1.28x |
| Category 1 (QIB) | 0.00x |
| Total | 1.47x |
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Kosamattam Finance Limited
Kosamattam Mathew K. Cherian Building,
M. L. Road, Market Junction,
Kottayam - 686 001, Kerala
Phone: +91 481 258 6400
Email:
Website: http://www.kosamattam.com/
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: mmfl.ncd2019@linkintime.co.in
Website: https://kosmic.kfintech.com/ipostatus/
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