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NCD Status: Closed [20th Jun 2024 to 3rd Jul 2024]
Sakthi Finance Limited is issuing secured and redeemable NCDs with a base issue size of Rs 75.00 Cr and an Oversubscription issue size of Rs 75.00 Cr. The subscription period is opening from 20 June to 03 July 2024 and the company is issuing Series I to VII at an issue price of Rs. 1000 per NCD. The lot size of NCD is about 10 lots , 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 24, 36, 60, and 85 months with a coupon rate of 9.00% to 10.38% per annum.
Learn more about Sakthi Finance Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency, and more.
| NCD Opening Date: | 20th Jun 2024 |
| NCD Closing Date: | 3rd Jul 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: | 24, 36, 60 and 85 months |
| Rating: | [ICRA] BBB (Stable) by ICRA Limited. |
| Series: | Series I to VII |
| Payment Frequency: | Monthly and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 20th Jun 2024 |
| NCD Issue Close | 3rd Jul 2024 |
| BSE Code: | 3479 |
| BSE Script Symbol: | SFL09 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 37500 | 5% |
| Non-Institutional | 112500 | 15% |
| HNI | 300000 | 40% |
| Retail | 300000 | 40% |
Sakthi Finance Limited was incorporated in the year 1955. The company is an investment and lending company specializing in the financing of used commercial vehicles. It also provides finance for purchasing infrastructure construction equipment, multi-purpose vehicles, cars, jeeps and other machinery. Liens on the financed assets secure the financing. The target customers are primarily small and medium-sized road transportation companies (“SRTOs/MRTOs”), which are mainly located in rural and semi-urban areas. The aim of the SRTOs/MRTOs is to provide fast financing at competitive interest rates.
They have a network of 54 branches in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana and the Union Territory of Puducherry. Apart from the financial business, the company generates electricity from wind power plants and sells it to Tamil Nadu Electricity Board and Gujarat Urja Vikas Nigam Limited. The company currently has 17 wind power plants with a total capacity of 5,150 kW in the states of Tamil Nadu and Gujarat.
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 | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,381.26 | 1,300.58 | 1,269.43 | 1,240.43 |
| Revenue | 152.59 | 191.94 | 181.35 | 171.34 |
| Profit After Tax | 11.52 | 12.49 | 9.52 | 9.26 |
| Net Worth | 185.21 | 179.27 | 170.95 | 164.89 |
| Amount in ₹ Crore | ||||
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% | 9.31% | 9.25% | 9.58% | 10.25% | 10.65% | 10.38% |
| 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).
Last Updated on 2024-07-06T06:32:50+00:00
