| Manappuram Finance’s NCD issue of upto 12.20% p.a. opens on 18th August
Manappuram Finance Ltd., a leading listed NBFC lending money against the pledge of household, used, gold jewellery in terms of the gold loan portfolio and the fastest growing gold financing company, will open its maiden public issue of secured, redeemable, non-convertible debentures (NCDs) on Thursday, 18 August 2011.
The NCD Issue with two investment options and yield to maturity of up to 12.56% p.a. closes on Monday, 5 September 2011 with an option or earlier. The face value of each Bond is Rs.1,000 and the minimum application can be for five Bonds (Rs.5,000) and in multiples of one Bond thereafter. The Bonds will be listed on the BSE and will have a tradable lot size of 1 Bond. CARE AA-
The Bonds proposed to be issued by the Company have been rated by Credit Analysis and Research Ltd (CARE) and BWR AA- by Brickwork Ratings India Pvt. Ltd. indicating their high safety for timely servicing of debt obligations and low credit risk.
The funds raised through this Issue will be utilized for various financing activities including lending and investments and towards business operations including for capital expenditure and working capital requirements, after meeting the expenditures of, and related to, the Issue.
L&T Q1FY12 net rises 12%
Larsen & Toubro (L & T) reported 21% higher Gross Revenue of Rs.9578 crore in Q1FY12 compared to Q1FY11 with 12% higher (PAT).
The company booked fresh orders of Rs.16190 crore taking its Order Book to Rs.136172 crore as at June 30, 2011. The major orders during the quarter came from Building & Factories, Infrastructure, Power Generation, Transmission & Distribution, Minerals & Metals and Hydrocarbon sectors.
Shriram City Union Finance’s upto 12.10% NCD issue
Shriram City Union Finance Ltd., a deposit-accepting NBFC registered with RBI and the largest small enterprise finance company, is entering the capital market with a public issue of Secured Non Convertible Debentures (NCDs) of Rs.1,000 each totalling Rs.375 crore with the option to retain oversubscription up to Rs.375 crore issuance of additional NCDs aggregating to Rs.750 crore. The debentures offer 11.60% to 12.10% interest per annum under different options and tenures.
The NCDs have been rated CARE AA by CARE Ltd. indicating their high degree of safety regarding timely servicing of financial obligations and carrying very low credit risk and CRISIL AA-/Stable by CRISIL Ltd. indicating high degree of safety regarding timely servicing of financial obligations.
The funds raised through this Issue, after meeting Issue expenses, will be used for the company’s various financing activities including lending and investments. The funds would also be used to repay the Company’s existing loans and for its business operations including for meeting capital expenditure and working capital requirements.
The NCD issue opened on Thursday, 11 August and will close on 27 August or earlier and will be listed on the NSE and BSE. |
