Last updated on February 21, 2024
Sakthi Finance NCD February 2024 Description – Incorporated in 1955, Sakthi Finance is an investment and credit company with a primary focus on financing pre-owned commercial vehicles. It also provides finance for purchasing infrastructure construction equipment, multi-utility vehicles, cars, jeeps, and other machinery. The finances provided are secured by a lien on the assets financed.
The company’s target customers predominantly comprise small/medium road transport operators and primarily hail from rural / semi-urban areas. It has identified this opportunity and positioned itself between the organized banking sector and local money lenders by offering finance at a competitive rate with flexible and speedy lending services to its customers.
Sakthi Finance operates primarily in the southern region of the country mainly in the states of Tamil Nadu and Kerala through its branch network and customer service points. The company has a network of 53 branches, located in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana, and the Union Territory of Puducherry.
In addition to finance business, it generates power from windmills and sells it to the Tamil Nadu Electricity Board and Gujarat Urja Vikas Nigam Limited. At present, the company has 17 windmills with an aggregate capacity of 5,150 kW located in the states of Tamil Nadu and Gujarat.
As of 30 September 2023, the company has an Asset Under Management (AUM) (i.e. Stock on Hire) of INR 1,196.37 crore. The AUM (net of ECL provisions) has grown from INR 1,093.54 crore as of 31 March 2021 to INR 1,145 crore as of 31 March 2023 at a CAGR of 2.33%.
Promoters of Sakthi Finance – Dr. M. Manickam, and Mr. M. Balasubramaniam
Sakthi Finance NCD February 2024 Details
| Subscription Dates | 8 – 21 February 2024 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures |
| Face Value | INR 1,000 per NCD |
| Issue Price | INR 1,000 per NCD |
| Issue Size (Base) | INR 100 crore |
| Overall Issue Size (including oversubscription) | INR 200 crore |
| Minimum Lot Size | 10 NCDs |
| Market Lot | 1 NCD |
| Tenor | 24 months 36 months 60 months 85 months |
| Credit Rating | ICRA BBB (Stable) |
| Category Reservation | Category 1 (QIB): 5% Category 2 (NII): 15% Category 3 (HNI): 40% Category 4 (Retail): 40% |
| Basis of Allotment | First Come First Serve |
| Listing On | BSE |
Sakthi Finance NCD February 2024 – Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 24 months | Monthly | 9.00% | 9.00% | INR 1,000 |
| Series 2 | 24 months | Cumulative | NA | 9.74% | INR 1,194.83 |
| Series 3 | 36 months | Monthly | 9.25% | 9.25% | INR 1,000 |
| Series 4 | 36 months | Cumulative | NA | 10.52% | INR 1,315.66 |
| Series 5 | 60 months | Monthly | 10.25% | 10.25% | INR 1,000 |
| Series 6 | 60 months | Cumulative | NA | 13.17% | INR 1658.72 |
| Series 7 | 85 months | Cumulative | NA | 14.30% | INR 2,013.13 |
Sakthi Finance Non-Convertible Debentures Lead Manager
BONANZA PORTFOLIO LIMITED
Bonanza House, Plot No. M-2 Cama Industrial Estate,
Walbhat Road, Behind the Hub Goregaon (East), Mumbai – 400 063
Phone: +91 022 68363773 / +91 011 61271909
Email: [email protected]
Website: www.bonanzaonline.com
Sakthi Finance Non-Convertible Debentures Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in
Sakthi Finance NCD Documents
Sakthi Finance Contact Details
SAKTHI FINANCE LIMITED
62, Dr. Nanjappa Road, Post Box No. 3745,
Coimbatore – 641 018, Tamil Nadu
Phone: +91 (422) 2231471-474/4236200
Email: [email protected]
Website: www.sakthifinance.com
Sakthi Finance NCD February 2024 Subscription Status (no. of times)
| Date | QIB | NII | HNI | Retail | Total |
|---|---|---|---|---|---|
| 21 Feb 2024 | 0.00 | 0.02 | 1.25 | 2.88 | 1.66 |
| 20 Feb 2024 | 0.00 | 0.02 | 1.09 | 2.46 | 1.42 |
| 19 Feb 2024 | 0.00 | 0.02 | 1.05 | 2.39 | 1.38 |
| 16 Feb 2024 | 0.00 | 0.02 | 0.83 | 1.78 | 1.05 |
| 15 Feb 2024 | 0.00 | 0.02 | 0.68 | 1.58 | 0.91 |
| 14 Feb 2024 | 0.00 | 0.02 | 0.63 | 1.36 | 0.80 |
| 13 Feb 2024 | 0.00 | 0.02 | 0.59 | 1.19 | 0.71 |
| 12 Feb 2024 | 0.00 | 0.02 | 0.44 | 0.95 | 0.56 |
| 9 Feb 2024 | 0.00 | 0.02 | 0.34 | 0.61 | 0.38 |
| 8 Feb 2024 | 0.00 | 0.00 | 0.27 | 0.38 | 0.26 |
Sakthi Finance NCD February 2024 Allotment Status
Sakthi Finance NCD February 2024 allotment status will be updated on the website of Link Intime India Private Limited website. Click on this link to get allotment status.
Sakthi Finance NCD February 2024 FAQs
What are the face value and lot size of Sakthi Finance NCD February 2024?
The NCDs will be issued at a face value of INR 1,000 each NCD and the minimum lot size is 10 NCDs.
What is the frequency of interest payment in Sakthi Finance NCD February 2024?
The frequency of payment for Sakthi Finance NCD is Monthly, & Cumulative.
What is the basis of allotment in Sakthi Finance NCD February 2024 offer?
Sakthi Finance NCDs will be allotted on a First Come First Serve Basis.
