Issue Details

 NCD

 JM FINANCIAL CREDIT SOLUTIONS LIMITED (View Report)
 Issue opening date  November 20,2018
 Issue closing date  December 20,2018
 Credit ratings

 ICRA(AA/Stable)

 India Ratings (AA/Stable )

 Interest Rate  Earn upto 10.25 % Interest rate
 Allotment   First Come First Serve Basis, Compulsory in demat form
 Face Value & Issue Price   Rs 1,000 per NCD
 Nature of Instrument   Secured, Rated, Listed, Redeemable Non-convertible Debentures
 Minimum Application   Rs 10,000 (10 NCDs) collectively across all Series & in multiple of Rs 1,000 (1 NCD) thereafter
 Listing   NCDs are proposed to be listed on BSE
 Rating  ‘ICRA AA (Outlook: Stable)’ by ICRA; 'IND AA (Outlook : Stable)' by India Ratings

Issue & Coupon Structure

Series I II III IV V VI
Interest Payment Frequency Annual Cumulative Annual Monthly Annual Monthly
Tenor 42 months 42 months 60 months 60 months 120 months 120 months
Coupon (%) for all Investor categories 10.00% NA 10.10% 9.67% 10.25% 9.81%
Effective Yield (Approx per annum) 10.02% 10.00% 10.09% 10.10% 10.24% 10.25%
Redemption amount (Rs per NCD) Rs. 1,000 Rs. 1,396.15 Rs. 1,000 Rs. 1,000 Rs. 1,000 Rs. 1,000

 

Eligibility to receive additional incentive:

As on every Record Date fixed by the Company for the payment of Coupon/Interest, all the NCD Holders of the Tranche II Issue to whom the NCDs are allotted by the Company on the Deemed Date of Allotment and to whom allotment of NCDs was made by the Company on the Deemed Date of Allotment defined in Tranche I Issue, shall be eligible for receiving additional Coupon/Interest rate amounting to 0.15% p.a., payable over and above the specific Coupon/Interest rate for the Options/Series subscribed in the Tranche II Issue. The additional incentive will be paid to those NCD Holders who have applied for Options/Series III, IV, V and VI, i.e. Options/Series having tenures of 60 months or 120 months only. Further, the additional incentive would be applicable across all categories of investors.

Who Can Apply

  • Category I (Institutional Investors)
  • Category II (Non - Institutional Investors)
  • Category III (High Networth Individuals >Rs. 10 lakhs)
  • Category IV (Retail Investors upto Rs. 10 lakhs)

Note: Non Resident Indians, Person resident outside India, Foreign Institutional Investors/ Foreign Portfolio Investors, Qualified Foreign Investors, Foreign nationals cannot apply for this issue.

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