IndoStar To Raise ₹30,000 Lakh Via Issue of NCDs

IndoStar Capital Finance Limited announces the public issuance of Secured Redeemable Non-Convertible Debentures (NCDs), each with a face value of ₹1,000. The issue aims to raise up to ₹30,000 lakh.

Key Features

• Five Series: NCDs are offered in five series with varying tenures (24, 36, and 60 months) and interest payment options (annual, quarterly, and cumulative).
• Fixed Coupon Rates: Coupon rates range from 10.30% to 10.70% per annum.
• Issue Period: The issue opens on September 6, 2024, and closes on September 19, 2024, with the possibility of early closure or extension.
• Allotment: Allotment is based on the date of application upload. In case of oversubscription, allotment will be on a proportionate basis.
• Minimum Application Size: The minimum application size is ₹10,000, with multiples of ₹1,000 thereafter.

Issue Details

• Base Size: ₹15,000 lakh.
• Green Shoe Option: An additional ₹15,000 lakh.
• Use of Proceeds: At least 90% of the net proceeds will be used for onward lending, while the remaining 10% will be allocated for general corporate purposes.

Credit Rating: The NCDs have been rated “CARE AA-/Stable,” indicating a high degree of safety and low credit risk.

Lead Manager: Nuvama Wealth Management Limited is the Lead Manager for the issue.

Listing: The NCDs will be listed on BSE Limited to provide liquidity to investors.

The NCDs are available in tenors of 24 months, 36 months and 60 months, with quarterly, cumulative and annual interest payment options across five series.

About Indostar Capital Finance Ltd

Incorporated in July 2009, Indostar Capital Finance Ltd is registered with the Reserve Bank of India (RBI) as a systemically-important non-deposit-taking NBFC.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.