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Shriram City Union Finance Limited – NCD Issue Sept 2012


Shriram City Union Finance Limited – Issue Of Secured, Non Convertible debentures September 2012.

Shriram City Union Finance – Part of Shriram Group, started its operations in 1986.Business activities include vehicle financing incuding two,three, foue wheelers new,preowned or commercial,,Personal Loans,Small Business loans and loan against Gold.

Credit Rating CARE AA & CRISIL AA-. Stable Rating.

Issue Size – NCD issue of Rs.250 Crore with an option to retain oversubscription of Rs. 250 crore ,total aggragating Rs. 500/- crore.

  • Issue Open Date – Sept 12, 2012.
  • Issue Close Date – Sept 26, 2012.
  • Issuance – Only in dmat mode.So interested investors need to have a demat account to invest in this issue.
  • Face Value – Rs.1000/-.
  • Min Application amount – Rs.10,000/-.

Interest Rates for Individuals:

Series I II III IV
Tenure 36 months 60 Months 36 Months 60 Months
Interest Payment Frequency Annual Annual Cumulative Mode Cumulative Mode
Coupon rate % 10.60 10.75 N.A N.A
Additional Incentive % 0.90 1.00 NA NA
Effective Rate Of Interest 11.50 11.75 11.50 11.75
Call / Put Options NA NA NA NA
Redemption Amount[Rs] 1000/- 1000/- 1386.20/- 1743.30/-

Allocation ratio:

  1. Institutional Category – 10%.
  2. Non-Institutional category – 10%.
  3. Non-Reserved Individuals [Individuals applying for more than 5 lakh]- 40%.
  4. Reserved Individual Category[Individuals applying for less than 5 lkah] – 40%.

Still there is confusion in the mind,whether additional incentive of 0.90% or 1% is available for investors investing more than 5 lakh or not i.e for non-reserved category individuals.

For previous few issues additional interest rate benefit was available for investors investing upto Rs. 5 lakh only.Confusion is because word is used as individual & non-individual.If any one have clarity in this regard,please let us know.

 


Category: Fixed Income

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