so, here's your chance of investing in NCD of JM Financials. invest in the Secured Redeemable NCDs of JM Financial products ltd and earn upto 8.30% interest. A few days back JM Financial Products Limited, the JM Financial Group's NBFC business, announced a Tranche – I public issuance of secured NCDs with a face value of $1,000 apiece. The issue has a base issue size of up to 100 crores and an option to keep up to 400 crores in oversubscription, bringing the total issue size to 500 crores, which is within the shelf limit of 1,500 crores. It will be open from September 23 until October 14.
The Tranche I issue is divided into four series, the first of which has a floating interest rate option and a tenor of 39 months. Series I has a floating interest rate based on the Financial Benchmarks India Pvt. Ltd. ("FBIL") 3-month T-Bill Rate plus a 3.15 percent margin. According to a corporate announcement, the Coupon for Series I NCDs will be determined by the movement of the T-bill rate.
In addition, Series II, III, and IV provide fixed interest rate options with tenors of 60 months (annual), 60 months (monthly), and 100 months (annual). Series II, III, and III NCDs (fixed interest rate) have effective annual yields ranging from 8.19 percent to 8.30 percent. It stated that the Tranche I Issue includes subscription choices with coupon rates ranging from 7.91 percent to 8.30 percent per year for Series II, III, and IV NCDs (fixed interest rate).
More on NCD of JM financial:-
Summary of the issue:-
|Issue Opens on:||23rd Sept 2021|
|Issue Closes on:||14th October 2021 (May close early depending upon the subscription.)|
|Issue Size||Base Issue Size of Rs.100 Crores with an option to retain oversubscription up to Rs.400 Crores Aggregating up to Rs.500 Crores ("Tranche I Issue") which is within the Shelf Limit of Rs.1500 Crore.|
|Rating||AA/Stable by ICRA & CRISIL Ratings Ltd|
|Face Value||Rs. 1000/-|
|Minimum Application||Rs. 10,000/- & In Multiples of Rs.1000 thereafter|
|Tenure||39 Months (Floating) , 60 Months & 100 Months (Fixed)|
|Interest payment Frequencies||Annual in all 3 tenures, Monthly Option - 60 months only.|
|Listing||Proposed to be listed on BSE|
|Issuance and trading mode||Dematerialized form only|
39 Months (Annual -Floating) -
|91 DTB* + 315 bps spread|
|60 Months (Annual - Fixed) -||8.20%|
|60 Months (Monthly - Fixed) -||7.91%|
|100 Months (Annual - Fixed) -||8.30%|
JM Financial Group is a leading financial services company in India, specializing in delivering a wide range of services to enterprises, financial institutions, high-net-worth people, and retail investors. The JM Financial Group is a significant conglomerate in the financial services space, with businesses such as Investment Banking, Equity, Debt, Commodity Sales and Trading, Wealth Management, Portfolio Management Services, Asset Management, Alternative assets Management, Financing and Lending, and Distressed Asset Management. This Group's dedicated brokerage services arm is JM Financial Services.
The Group has pioneered a number of strategies and transactions for a diverse customer base across countries, gaining valuable knowledge and expertise in the process. Throughout its journey, the Group has formed partnerships with a number of leading Indian and international corporations, earning their trust and confidence. The Group's well-established systems provide 100% secrecy for all of their clients, offering them complete peace of mind when it comes to conflict resolution and confidentiality.
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