COMPANY BACKGROUND

Manappuram Finance Limited (MFL) is one of the major NBFC players in the gold finance business in India. MFL provides loans against the pledge of household and/or used gold jewellery and provide short-term personal and business gold loans (“Gold Loans”) primarily to retail customers.
The other business verticals of the company include Vehicle and Equipment Finance Business, Payments business, SME business and fee based services including forex and money transfer.

Issue Details

Issuer

Manappuram Finance Limited

Issue opens

28th January, 2019

Issue closes

27th February, 2019

Allotment

First Come First Serve Basis

Issue Price

Rs. 1,000 per NCD

Listing

BSE

Application Mode

Compulsorily ASBA

Credit ratings

"‘BWR AA+’/Stable and ‘CARE AA’/ Stable" by Brickwork.

Registrar

Link Intime India Pvt Limited

Nature of Instrument:

Secured, Redeemable, Non-Convertible Debentures

Minimum Application:

Rs.10,000 (10 NCD)

Issue Size:

The Base Issue size of the Tranche II Issue is Rs.150 crores with an option to retain oversubscription up to Rs. 587 crores, aggregating up to Rs.737 crores, which is within the Shelf Limit.

Offer break up:

Category Allocation Amount in Crs - Base Issue Amount in Crs - Total Issue
QIB 10% 15 73.7
Corporate 10% 15 73.7
HNI 30% 45 221.1
Retail 50% 75 368.5
Total 100% 150 737

 

Effective Yield:

Series Interest type Frequency of Interest Payment Tenor Coupon (%) for all Investor categories* Effective Yield (per annum) (Approx.) for all Investor categories* Redemption amount (Rs. per NCD)
I Fixed Monthly 36 months 9.35% 9.75% Rs. 1,000.00
II Fixed Monthly 60 months 9.75% 10.19% Rs. 1,000.00
III Fixed Annual 36 months 9.75% 9.74% Rs. 1,000.00
IV Fixed Annual 60 months 10.15% 10.14% Rs. 1,000.00
V Fixed NA 36 months NA 9.75% Rs. 1,322.30
VI Fixed NA 60 months NA 10.15% Rs. 1,622.38
VII Fixed NA 2,617 days NA 10.15% Rs. 2,000.00