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NCD Status: Closed [8th Feb 2024 to 21st Feb 2024]
Sakthi Finance Limited is issuing secured and redeemable NCDs with a base issue size of Rs 100.00 Cr and a oversubscription issue size of Rs 100 Cr. The subscription period is opening from 8 Feb 2024 to 21 Feb 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 of 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 is 24, 36, 36, 60, and 85 months with a coupon rate of 9.00% to 14.30% 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: | 8th Feb 2024 |
| NCD Closing Date: | 21st Feb 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹100.00Cr |
| 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 (ICRA). |
| 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 | 8th Feb 2024 |
| NCD Issue Close | 21st Feb 2024 |
| BSE Code: | 3308 |
| BSE Script Symbol: | SFL08 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 50000 | 5% |
| Non-Institutional | 150000 | 15% |
| HNI | 400000 | 40% |
| Retail | 400000 | 40% |
Sakthi Finance Limited is a well-known industrial conglomerate established in 1955. The company is involved in various industries such as sugar, industrial alcohol, automobile distribution, auto parts, dairy, co-generation, wind energy, and transportation.
It is primarily an investment and lending company that funds used commercial vehicles, infrastructure construction equipment, multi-purpose vehicles, cars, jeeps, and other machinery. Liens on the financed assets secure the financing. Our target customers are mainly small and medium-sized road transport operators (SRTOs/MRTOs) primarily from rural and semi-urban areas. The SRTOs/MRTOs are eager to obtain financing quickly and at competitive rates.
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:
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 |
Dr. M. Manickam and Mr. M. Balasubramaniam are the promoters of the company.
The NCDs proposed to be issued by the company are rated [ICRA] BBB (Stable) by ICRA Limited (ICRA).
Last Updated on 2024-02-24T05:33:07+00:00
