Sep 4, 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:
|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|
- Institutional Category – 10%.
- Non-Institutional category – 10%.
- Non-Reserved Individuals [Individuals applying for more than 5 lakh]- 40%.
- 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.