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NCD Status: Closed [22nd Jul 2024 to 2nd Aug 2024]
KLM Axiva Finvest Limited is issuing secured and redeemable NCDs with a base issue size of Rs 75.00 Cr and Oversubscription issue size of Rs 75.00 Cr. The subscription period is opening from 22 July to 02 Aug 2024 and the company is issuing Series I to X at an issue price of Rs. 1000 per NCD. The lot size of NCD is about of 10 NCD , so the total cost for NCD is Rs 10,000. The face value of each NCD is Rs. 1000. The tenure of the NCDs are 16, 18, 30, 79, 39 months and 2, 3, 5 years with a coupon rate of 9.50% to11.30% per annum.
Learn more about KLM Axiva Finvest Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.
| NCD Opening Date: | 22nd Jul 2024 |
| NCD Closing Date: | 2nd Aug 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹75.00Cr |
| Issue Size (Shelf): | |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE |
| Tenor: | 400 days, 16, 18 and 79 Months, 2 , 3 and 5 Years |
| Rating: | ACUITE BBB/Stable by Acuite Ratings & Research Limited and IND BBB-/Stable by India Ratings & Research Private Limited. |
| Series: | Series I to X |
| Payment Frequency: | Monthly, Annual and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 22nd Jul 2024 |
| NCD Issue Close | 2nd Aug 2024 |
| BSE Code: | 3521 |
| BSE Script Symbol: | KLM NCD X |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 75000 | 10% |
| Non-Institutional | 300000 | 40% |
| Retail | 375000 | 50% |
KLM Axiva Finvest Limited was founded in April 1997. The company is a systemically important non-banking finance company (“NBFC – Middle Layer”) that primarily serves low and middle income individuals and businesses that have limited or no access to formal banking and financial channels. Their loan customers are typically business people, vendors, traders, farmers, employees and families who need credit for reasons of convenience, accessibility or necessity.
They mainly operate in four business segments: (i) gold loans, i.e. loans against pledge of household jewellery, (ii) loans for micro, small and medium enterprises, (iii) personal loans and (iv) microfinance loans. As of June 30, 2023, the Company had 684 branches in the six states of Kerala, Karnataka, Tamil Nadu, Telangana, Andhra Pradesh and Maharashtra, which are managed from its head office in Kochi.
Their gold lending business generally consists of loans against pledge of gold jewellery by individuals. They provide loans against gold jewellery for a term of up to 12 months. They offer their customers a variety of gold loan programmes tailored to their individual needs. The programmes differ in terms of the amount of the advance per gramme of gold.
They provide loans of up to ₹ 1,000 lakhs to micro, small and medium enterprises (“MSMEs"), a category that primarily comprises small and medium enterprises, including businessmen, traders, manufacturers and freelancers. The MSME loan segment includes working capital loans for residential and commercial properties with a tenure of up to 40 months.
KLM Axiva Finvest Limited's revenue increased by 15.41% and profit after tax (PAT) rose by 25.63% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,960.34 | 1,719.30 |
| Revenue | 315.92 | 273.75 |
| Profit After Tax | 23.03 | 18.33 |
| Amount in ₹ Crore | ||
KLM Axiva Finvest Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Monthly | Annual | Monthly | Annual | Monthly | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 400 Days | 16 Months | 18 Months | 2 Years | 2 Years | 3 Years | 3 Years | 5 Years | 5 Years | 79 Months |
| Coupon (% per Annum) | 9.50% | NA | 9.85% | 10.00% | 10.25% | 10.25% | 10.50% | 10.75% | 11.00% | NA |
| Effective Yield (% per Annum) | 9.92% | 9.96% | 10.31% | 10.47% | 10.25% | 10.75% | 10.50% | 11.30% | 11.00% | 11.10% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,135.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 2,000.00 |
The Promoter of the company is Biji Shibu.
The NCDs proposed to be issued under this Issue have been rated "ACUITE BBB", by Acuité Ratings & Research Limited ("IRRPL") & IND BBB-/Stable by India Ratings & Research Private Limited for an amount up to ₹ 15,000 lakhs.
Last Updated on 2024-08-12T04:32:49+00:00
