The minimal utility dimension could be ₹10,000 and thereafter, in multiples of ₹1,000 thereof
The minimal utility dimension could be ₹10,000 and thereafter, in multiples of ₹1,000 thereof
CreditAccess Grameen Ltd., a non-banking monetary company-micro finance establishment (NBFC-MFI) providing collateral-free loans to ladies, will faucet the market with tranche I public concern of secured, redeemable, non-convertible debentures of the face worth of ₹1,000 every.
The base concern dimension is ₹250 crore with an choice to retain oversubscription an equal quantity, aggregating as much as ₹500 crore.
The concern would open on November 14 and shut on December 2 with an possibility for early closure.
The NCDs are proposed to be listed on BSE and NSE with NSE.
The minimal utility dimension could be ₹10,000 and thereafter, in multiples of ₹1,000 thereof.
This concern has tenure choices of 24 months, 36 months and 60 months for secured NCDs with month-to-month and cumulative coupon fee modes being supplied throughout collection I, II, III, IV, V and VI.
Effective yield (every year) for NCD holders in all Categories ranges from 9.83% to 10.46% every year. Amount on maturity for NCD holders in all classes below the cumulative coupon fee possibility ranges from ₹ 1,206.57 to ₹1,644.91.
Out of the online proceeds, at the very least 75% can be utilised for the aim of onward lending, financing, and for reimbursement of curiosity and principal of present borrowings of the corporate and a most as much as 25% can be utilised for normal company functions.
As at September 30, the corporate had gross AUM of ₹16,539.11 crore on a consolidated foundation with presence via 1,684 branches and 10,826 mortgage officers in India.
Source: www.thehindu.com