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Let us know about Kosamattam Finance ltd. company that is offering secured NCD (non convertible debentures)
Kosamattam Finance Ltd. (KFL) is a systemically important non-deposit taking NBFC primarily engaged in the Gold Loan business, lending money against the pledge of household jewellery ("Gold Loans") in the state of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Delhi, Maharashtra, Gujarat and Telangana along with the Union Territory of Puducherry.
Issue Open
Aug 30, 2021 - Sep 24, 2021
Security Name
Kosamattam Finance Limited
Security Type
Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)
Rs 150.00 Crores
Issue Size (Shelf)
Rs 150.00 Crores
Issue Price
Rs 1000 per NCD
Face Value
Rs 1000 each NCD
Minimum Lot size
10 NCD
Market Lot
1 NCD
Listing At
BSE
Credit Rating
'BWR BBB+' - Outlook Stable, by Brickwork Ratings
Tenor
20, 24, 36, 42, 50, 72, 84 months
Basis of Allotment
First Come First Serve Basis
The company proposes to utilize the funds which are being raised through the Issue
For the purpose of onward lending;
For repayment of interest and principal of existing debts of our Company; and
For general corporate purposes;
For the last three fiscals, the company has posted total income/net profits of Rs. 475.36 cr. / Rs. 43.15 cr. (FY19), Rs. 499.33 cr. / Rs. 47.63 cr. (FY20) and Rs. 542.26 cr. / Rs. 65.32 cr. (FY21). Thus it has shown gradual growth in its top and bottom lines.
KFL's net NPAs declined over the periods from1.28% in FY19 to 0.86% in FY21. As of March 31, 2021, its current paid up equity capital of Rs. 202.50 cr. is supported by free reserves of Rs. 318.08 cr.
Its debt equity ratio of 6.64 as of March 31, 2021 will rise to 7.21 post this debt issue.
The company is a frequent visitor of debt market. Although coupon rates offered are lucrative. It has poor rating (BBB+) and the fancy of the group is limited largely to southern region only. Considering all these, cash surplus risk savvy investors may consider investment in this debt offer on their own risk.
Why to invest in these NCDs?
1) This Kosamattam NCD offer attractive interest rates where investors can get interest up to 10% per annum and yield up to 10.47%
2) Kosamattam Finance generates consistent margins. This means that company has ability to pay interest payment on time to its NCD holders without any delay.
3) It issues secured NCDs. These NCDs are safe compared to unsecured NCDs. In case company gets wind-up/shut down for some reason, secured NCD investors would get preference in repayment of capital along with interest as those backed up by assets of the company. Hence it is safe to invest in such secured NCD options.
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