Manappuram Finance Limited – Gold Loan company have come up with an NCD issue which will open Dec 30, 2013.Manappuram finance will raise Rs.100 Crore with an option to retain over subscription of same amount aggregating to Rs.200 crore.
Details of Manappuram NCD issue Dec-2013 are as below:
- Issue Open Date:30-12-2013
- Issue close Date:20-01-2014.
Manappuram Finance NCD Dec-2013
|Series||Tenure||Interest payment Frequency||Interest Rate %|
With Option XI,money will get doubled within period of 70 Months.
Security : Investors of this issue would have first Pari passu charge on immovable assets,Loans , future Receivables of company.
Credit Rating : A+ (Negative) – Indicates Adequate safety towards repayment of principal and interest.
Profit Reported By company Since Last 05 Years:
|Year ended||Profit Before TaxCrores||Profit After TaxCrores|
|March 2009||46.28 Crores||30.30 Crores|
|March 2010||181.83 Crores||119.72 Crores|
|March 2011||423.90 Crores||282.66 Crores|
|March 2012||877.21 Crores||591.46 Crores|
|March 2013||306.51 Crores||208.43 Crores|
As per RBI directions loan up to 60% of the gold value can be only disbursed.This directive have certain advantages and disadvantages.Due to only 60% loan,risk against fall in Gold value will be covered for company but it will also impact loan disbursement.Any one who can take credit risk..may invest in NCD issues of gold loan companies.
Update as on 09-01-2014 : RBI have allowed Loan to Value ration of 75% w.e.f 09-01-2014 .Earlier it was 60% as mentioned above.It is positive development for Gold loan companies as they will able to disburse more loan amount.
Muthoot finance NCD have also opened today for details of Muthoot Finance NCDs Pl click Here.