Sakthi Finance NCD April 2022: Issue Date, Review & Interest Rates
About Sakthi Finance
The company was incorporated in the year 1955 and has a track record of nearly four decades in the commercial vehicle financing segment. Sakthi Finance registered with RBI, under section 45-IA of the Reserve Bank of India Act, 1934, with the Department of Non-Banking Supervision, Chennai, as an NBFC Deposit-taking – Investment and Credit Company (earlier termed as Asset Financing Company).
Sakthi Finance is part of “Sakthi Group” of companies based in Coimbatore, South India, a reputed and well-known Industrial conglomerate having a major presence in sugar, industrial alcohol, automobile distribution, and 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. The company also provides finance for purchasing infrastructure construction equipment, multi-utility vehicles, cars, jeeps, and other machinery
Sakthi Finance NCD April 2022 Details
| Description | NCD Details |
|---|---|
| Issue Size | Secured Redeemable Non- Convertible Debentures of Face Value of Rs.1,000 each (“NCDs”) for an amount of Rs.5,000 lakh (“Base Issue Size”) with an option to retain over-subscription not exceeding Rs. 5,000 lakh, aggregating to a total amount not exceeding Rs.10,000 lakh |
| NCD Issue Open | 11-Apr-22 |
| NCD Issue Close | 04-May-22 |
| Security Type | Secured Redeemable non-convertible Debentures |
| Price Band | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 Bonds (Rs.10,000) |
| Series | I-VIII |
| Credit Rating | “[ICRA] BBB (Stable)” |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Symbol | |
| Listing At | BSE |
Also Read: Latest NCD Bonds Details
Terms of the NCDs
| Series | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 |
|---|---|---|---|---|---|---|---|---|
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 48 Months | 48 Months | 60 Months | 60 Months |
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative |
| Coupon Rate | 8.50% | NA | 8.75% | NA | 9.00% | NA | 10.00% | NA |
| Effective Yield (%) (per annum) | 8.5 | 9.16 | 8.75 | 9.88 | 9 | 10.69 | 10 | 12.77 |
| Amount (₹ / NCD) on Maturity for Unsecured NCD Holders in all Category) |
Rs.1000 | Rs.1183.20 | Rs.1000 | Rs.1296.50 | Rs.1000 | Rs.1427.62 | Rs.1000 | Rs.1638.62 |
Objects of the Issue
- For the purpose of on-ward lending, financing and for repayment / prepayment of principal and interest of existing borrowings (including redemption of NCDs which would become due for redemption) of the Company
- For general corporate purposes
Sakthi Finance NCD April 2022 – Documents
Sakthi Finance NCD April 2022 Lead Managers
- Dalmia Securities Private Limited
Sakthi Finance NCD April 2022 Registrar
- Link Intime India Private Ltd
Sakthi Finance NCD April 2022 – FAQs
When is the Sakthi Finance NCD April 2022 issue open date?
The Sakthi Finance NCD April 2022 issue open date is on 11th April, 2022
When is the Sakthi Finance NCD April 2022 issue close date?
The Sakthi Finance NCD issue close date is on 4th May, 2022
What is the price for one NCD for Sakthi Finance NCD April 2022 issue?
The price band is Rs 1000 per NCD and the minimum lot size is 10 Bonds (Rs. 10,000)
How to Apply Sakthi Finance April 2022 issue?
Apply from your Demat account, if you don’t have the Demat Account, click here to open the Demat Account.
You can apply by downloading the form from the official website and filling up all the details with the cheque for the said amount. You can submit it to the collection centers.
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