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Incorporated in 1955, Sakthi Finance Limited is an RBI registered deposit-taking NBFC engaged in commercial vehicle financing sector. Its operation activities come under section 45-IA of the Reserve Bank of India Act, 1934. The company is a part of the Sakthi Group, which is engaged in the business of transportation, dairy, auto components, co-generation, industrial alcohol, sugar, automobile distribution, and wind energy.
As an asset finance company, the company concentrates on previously owned commercial vehicles. Apart from this, it also helps the customers by providing financing services on buying infrastructure construction equipment, jeeps, multi-utility vehicles, and other sorts of machinery.
The target customers of Sakthi Finance Limited are small and medium road transport operators belonging from a rural or semi-urban area. The company provides financing services mainly in Southern India and has a strong branch network in Kerala and Tamil Nadu.
The company is also involved in selling electricity (which is generated from its 17 windmills) to Gujarat Urja Vikas Nigam Limited and Tamil Nadu Electricity Board. The AUM of the company was Rs 92,385.67 lakh as on 30th Sep 2018 at CAGR of 4.70% from 31st March 2014. The income generated from hire purchase business was Rs 12,644.05 lakh for the financial year 2014 which is increased at CAGR of 5.58% to Rs 15,708.40 lakh for the financial year 2018.
The competitive strengths of the company are:
1. The high growth momentum of the industry
2. Back support of reputed Sakthi group
3. Prominent reach in Southern Region
4. Four decades of experience in the field
5. Unique business model
| Issue Open | April 10, 2019 - May 9, 2019 |
| Security Name | Sakthi Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Shelf) | Rs 50.00 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 | ICRA BBB/Stable |
| Tenor | 24 months/36 months/48 months/61 months |
| Series | Series 1 to Series 11 |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Category 1 | 5% |
| Category 2 | 5% |
| Category 3 | 90% |
| Category |
NCD's Reserved |
|---|---|
| Category 1 | 50,000 |
| Category 2 | 50,000 |
| Category 3 | 900,000 |
| Category 4 | 0 |
| Total NCD's | 1,000,000 |
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Annually | Cumulative | Monthly | Annually | Cumulative | Monthly | Annually | Cumulative |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 48 Months | 48 Months | 48 Months | 61 Months | 61 Months | 61 Months |
| Coupon Rate (Retail) For Category I & II/ for III & IV | 9.50% | NA | 9.75% | 9.75% | NA | 10% | 10% | NA | 10.25% | 10.25% | NA |
| Amount on Maturity For Category I & II/ for III & IV | Rs 1,000 | Rs 1,207 | Rs 1,000 | Rs 1,000 | Rs 1,335 | Rs 1,000 | Rs 1,000 | Rs 1,485 | Rs 1,000 | Rs 1,000 | Rs 1,673 |
The NCDs proposed to be issued by our Company have been rated by ICRA Limited ("ICRA"). ICRA has vide its letter no. RTG/Chen/109/18-19 dated February 11, 2019, assigned and vide its letter no. Reval/Chen/145/18-19 dated March 25, 2019 revalidated, a rating of "[ICRA] BBB (Stable)" for an amount up to Rs 15,000 lakh for the NCDs. The rating of the NCDs by ICRA indicates moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit
risk.
Dr. M. Manickam and Mr. M. Balasubramaniam are the promoters of the company.
Details of use of proceeds:
I. For the purpose of on-ward lending, financing, and for repayment/ prepayment of interest and principal of existing
borrowings of the Company (including redemption of NCDs outstanding which would become due for redemption)
II. General corporate purposes
III. Issue Expenses
The Sakthi Finance NCD April 2019 was subscribed 1.27 times on May 9, 2019 6:54:00 PM. The NCD subscribed .
| Category ? | Subscription (times) |
|---|---|
| Category 3 | 1.40x |
| Category 2 (NII) | 0.20x |
| Category 1 (QIB) | 0.00x |
| Total | 1.27x |
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Sakthi Finance Limited
62, Dr. Nanjappa Road,
Post Box No. 3745,
Coimbatore - 641 018, Tamil Nadu
Phone: +91 (422) 2231471-474/423
Email: svenkatesh@sakthifinance.com
Website: http://www.sakthifinance.com
S.K.D.C Consultants Limited
Kanapathy Towers, 3rd Floor,
1391/A1, Sathy Road, Ganapathy,
Coimbatore - 641 006, Tamil Nadu
Phone: 91-422-6549995, 2539835-36
Email: sflncd@skdc-consultants.com
Website: http://www.skdc-consultants.com
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