INDORE MUNICIPAL CORPORATION NCD

Issue Details

Issue Open	Feb 10, 2023 - Feb 14, 2023
Issuer	Indore Municipal Corporation's
Instrument	Secured Rated, Listed, Redeemable, Non-Convertible Debentures
Issue Size	Base Issue size of ₹ 244 Crore with an option to retain oversubscription up to ₹ 244 Crore
Issue Price	Face Value of INR 1,000/- per NCD consisting of 1 (one) STRPP A with face value of Rs. 250/-, 1 (one) STRPP B with face value of Rs. 250/- and 1 (one) STRPP C with face value of Rs. 250/-, 1 (one) STRPP C with face value of Rs. 250/-.
Face Value	₹ 1,000/- per NCD. Each NCD shall comprise of 4 STRPPs having different ISINs and face value: (a)1 STRPP A of face value of ₹ 250; (b)1 STRPP B of face value of ₹ 250; (c)1 STRPP C of face value of ₹ 250; (d)1 STRPP D of face value of ₹ 250
Minimum Application size	₹ 10,000/- (10 NCDs comprising of 10 STRPP A, 10 STRPP B, 10 STRPP C,10 STRPP D)
Listing At	BSE, NSE
Credit Rating	“IND AA+/Stable’ & ‘CARE AA/Stable” by India Ratings & Research Pvt Ltd
Tenor	STRPP A of an NCD – 3 years, STRPP B of an NCD – 5 years, STRPP C of an NCD – 7 years, STRPP D of an NCD – 9 years
Payment Frequency	Half Yearly basis from the Deemed Date of Allotment
Issuance and Trading	Compulsorily in dematerialized form.
Basis of Allotment	First Come First Serve Basis
Put/Call Option	There is no put/call option for the NCDs

ISSUE STRUCTURE
Option/Series	STRPP A	STRPP B	STRPP C	STRPP D
Face Value / Issue Price of NCDs (₹ / NCDs)	1 STRPP A of Face value of ₹ 250	1 STRPP B of Face value of ₹ 250	1 STRPP C of Face value of ₹ 250	1 STRPP C of Face value of ₹ 250
Minimum Applications	10,000 (10 NCDs comprising of 10 STRPP A, 10 STRPP B, 10 STRPP C,10 STRPP D)
STRPP with different ISIN#	STRPP A	STRPP B	STRPP C	STRPP D
Tenor	3 Years	5 Years	7 Years	9 Years
Coupon Rate (% p.a.) for All Categories	8.25% p.a. payable Half Yearly	8.25% p.a. payable Half Yearly	8.25% p.a. payable Half Yearly	8.25% p.a. payable Half Yearly
Effective Yield (% p.a.) for All Categories	8.41%	8.41%	8.41%	8.41%
Redemption Date/ Redemption Schedule	Staggered Redemption by Face Value for each respective STRPP as per "Principal Redemption Schedule and Redemption Amounts"
Maturity/Redemption (From the Deemed Date of Allotment)	3 Years	5 Years	7 Years	9 Years
*Of Deemed Date of Allotment
*Upon allotment, an investor will be allotted all 4 STRPPs of an NCD against the equivalent amount invested by such an investor, subject to the minimum application size.

Category	Institutional	Non Institutional	High Net worth Individual	Retail Individual Investor
Category Allocation	25% of the overall Issue Size	25% of the overall Issue Size	25% of the overall Issue Size	25% of the overall Issue Size
Bucket Size assuming Issue size of ₹ 244 Cr	₹ 61 Cr	₹ 61 Cr	₹ 61 Cr	₹ 61 Cr

Category I

Category II

Category III

Category IV

Public financial institutions, scheduledcommercial banks, Indian multilateral andbilateral development financial institutionswhich are authorised to invest in theNCDs;

Provident funds and pension funds with aminimum corpus of Rs 250 million,superannuation funds and gratuity funds,which are authorised to invest in theNCDs;

Alternative Investment Funds, subject toinvestment conditions applicable to themunder the Securities and Exchange Board ofIndia (Alternative Investment Funds)Regulations, 2012;

Insurance funds set up and managed by the 2009);army, navy, or air force of the Union ofIndia;

Insurance funds set up and managed by the unincorporated body of persons.Department of Posts, the Union ofIndia;

Systemically Important Non-BankingFinancial Company registered with the RBIand having a net-worth of more than Rs 5,000million as per the last audited financialstatements;

National Investment Fund set up byresolution no. F. No. 2/3/2005 DDII datedNovember 23, 2005 of the Government ofIndia published in the Gazette of India;and

Statutory bodies/ corporations and societiesregistered under the applicable laws in Indiaand authorised to invest in theNCDs;

Trusts including public/privatecharitable/religious trusts which areauthorised to invest in theNCDs;

Scientific and/or industrial researchorganisations, which are authorised to investin the NCDs;

Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009);

Resident Indian individuals orHindu Undivided Familiesthrough the Karta applying foran amount aggregating to aboveINR 10,00,000 across all optionsof NCDs in the Issue.

Retail individual investors,resident Indian individualsor Hindu UndividedFamilies through the Kartaapplying for an amountaggregating up to andincluding Rs 10,00,000across all options of NCDsin the Issue and shallinclude Retail IndividualInvestors, who havesubmitted bid for anamount not more than UPIApplication Limit (being Rs500,000 for public issue ofdebt securities) in any ofthe bidding options in theIssue (including HUFs applying through their Karta and does not include NRIs) though UPI Mechanism.

APPLICATIONS CANNOT BE MADE BY

Minors without a guardian name (A guardian may apply on behalf of a minor. However, the name of the guardian will need to be mentioned on the Application Form);
Foreign nationals;
Persons resident outside India;
Foreign Institutional Investors;
Non Resident Indians;
Qualified Foreign Investors;
Overseas Corporate Bodies;
Foreign Venture Capital Funds;
Persons ineligible to contract under applicable statutory/ regulatory requirements.