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Founded in 1955, Sakthi Finance Limited, part of the Sakthi Group based in Coimbatore, South India, is an investment and lending company specializing in the financing of used commercial vehicles.
The company also offers financing for the purchase of machinery, cars, jeeps and multi-purpose vehicles for infrastructure construction. The financing provided is secured by a lien on the financed assets.
The company has a network of 53 branches in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana, and the Union Territory of Puducherry. The company also generates power from wind turbines and sells it to the Tamil Nadu Electricity Board and Gujarat Urja Vikas Nigam Limited. Currently, Sakthi Finance has 17 wind power plants with a total capacity of 5,150 kW in the states of Tamil Nadu and Gujarat.
Sakthi Finance's customer base consists of small/medium-sized road transport operators (SRTOs/MRTOs) mainly located in rural/semi-urban areas.
As of September 30, 2023, the company had assets under management (AUM) of Rs.1,19,637.19 lakhs.
| Issue Open | February 8, 2024 - February 21, 2024 |
| Security Name | Sakthi Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 100.00 Crores |
| Overall Issue Size | Rs 200.00 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) by ICRA Limited (ICRA). |
| Tenor | 24, 36, 60 and 85 Months |
| Series | Series I to VII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 15% |
| HNI | 40% |
| Retail | 40% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 50,000 |
| Non-Institutional | 150,000 |
| HNI | 400,000 |
| Retail | 400,000 |
| Total NCD's | 1,000,000 |
Sakthi Finance Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 |
|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 85 Months |
| Coupon (% per Annum) | 9.00% | NA | 9.25% | NA | 10.25% | NA | NA |
| Effective Yield (% per Annum) | 9.00% | 9.74% | 9.25% | 10.52% | 10.25% | 13.17% | 14.30% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,194.83 | Rs 1,000.00 | Rs 1,315.66 | Rs 1,000.00 | Rs 1,658.72 | Rs 2,013.13 |
The NCDs proposed to be issued by the company are rated [ICRA] BBB (Stable) by ICRA Limited (ICRA).
Dr. M. Manickam and Mr. M. Balasubramaniam are the promoters of the company.
Sakthi Finance Limited's revenue increased by 5.84% and profit after tax (PAT) rose by 31.25% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,347.05 | 1,300.58 | 1,269.43 | 1,240.43 |
| Revenue | 100.38 | 191.94 | 181.35 | 171.34 |
| Profit After Tax | 7.20 | 12.49 | 9.52 | 9.26 |
| Net Worth | 182.18 | 179.27 | 170.95 | 164.89 |
| Amount in ₹ Crore | ||||
The Net Proceeds raised through this Issue will be utilized for the following purposes in the ratio provided below:
The Sakthi Finance NCD February 2024 was subscribed 1.66 times on February 21, 2024 6:24:00 PM. The NCD subscribed 2.89 times in Retail, 1.25 times in HNI, 0.02 times in Non-Institutional, and 0.00 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 2.89x |
| HNI | 1.25x |
| Non-Institutional | 0.02x |
| Institutional | 0.00x |
| Total | 1.66x |
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Sakthi Finance Limited
62, Dr. Nanjappa Road,
Post Box No. 3745,
Coimbatore - 641 018
Phone: +91 (422) 2231471-474
Email: sakthif_info@sakhtifinance.com
Website: http://www.sakthifinance.com/
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: ncd2023@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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