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Incorporated in 1955, Sakthi Finance Limited is a Coimbatore, Tamil Nadu based NBFC company involve in the business of financing commercial vehicles.
Sakthi Finance is a part of the 'Sakthi Group' of companies. Shakti Group is an industrial conglomerate having a presence in sugar, industrial alcohol, automobile distribution, auto components, dairy, co-generation, wind energy, and transportation.
Sakthi Finance is an Investment and Credit company with a primary focus on financing pre-owned commercial vehicles. Sakthi Finance also provides finance for purchasing infrastructure construction equipment, multi-utility vehicles, cars, jeeps, and other machinery. The finances provided are secured by a lien on the assets financed.
Sakthi Finance's target customers predominantly comprise Small / Medium Road Transport Operators from rural / semi-urban areas. It has a network of 49 branches, located in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana, and Union Territory of Puducherry.
In addition to finance business, companies generate power from windmills and sell it to Tamil
Nadu Electricity Board and Gujarat UrjaVikas Nigam Limited. At present, the company have 17 windmills with an aggregate capacity of 5,150 kW located in the States of Tamil Nadu and Gujarat.
| Issue Open | June 29, 2021 - July 23, 2021 |
| 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 100.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 10 NCD |
| Listing At | BSE |
| Credit Rating | [ICRA] BBB (Stable) |
| Tenor | 26, 39, 49 and 61 months |
| Series | |
| Payment Frequency | Monthly, Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 45% |
| Retail | 50% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 50,000 |
| Non-Institutional | 450,000 |
| Retail | 500,000 |
| Category 4 | 0 |
| Total NCD's | 1,000,000 |
|
Series |
Frequency |
Tenure |
Coupon Rate |
Effective Yield |
|---|---|---|---|---|
|
I |
Monthly |
26 Months |
9.50% |
9.50% |
|
II |
Cumulative |
26 Months |
NA |
10.42% |
|
III |
Monthly |
39 Months |
9.75% |
9.75% |
|
IV |
Cumulative |
39 Months |
NA |
11.32% |
|
V |
Monthly |
49 Months |
10.00% |
10.00% |
|
VI |
Cumulative |
49 Months |
NA |
12.17% |
|
VII |
Monthly |
61 Months |
10.50% |
10.50% |
|
VIII |
Cumulative |
61 Months |
NA |
13.64% |
The rating committee of ICRA, after due consideration, has assigned the [ICRA] BBB rating to the Sakthi Finance NCD in June 2021. This represents that the NCD has a moderate degree of safety regarding timely servicing of financial obligations. The outlook on long-term rating is 'Stable'.
The Net Proceeds raised through this Issue will be utilized for following purposes in the ratio provided as below:
The Sakthi Finance NCD June 2021 was subscribed 2.10 times on July 23, 2021 5:00:00 AM. The NCD subscribed 2.11 times in Retail, 2.32 times in Non-Institutional, and 0.05 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 2.11x |
| Non-Institutional | 2.32x |
| Institutional | 0.05x |
| Total | 2.10x |
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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: https://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: sakthifinance.ncd2021@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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