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| Issue Size (Base) | ₹40.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE |
| Tenor | 367 Days, 18, 24, 36, 60, and 70 Months |
| Credit Rating | IND BBB-/Stable by India Ratings and Research Private Limited. |
| Series | Series I to IX |
| Payment Frequency | Monthly and Cumulative |
Chemmanur Credits and Investments Limited 's revenue increased by 27.57% and profit after tax (PAT) rose by 114.8% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 635.04 | 499.42 | 430.46 |
| Revenue | 106.14 | 83.21 | 73.49 |
| Profit After Tax | 1.72 | 0.80 | 2.66 |
| Net Worth | 81.35 | 82.62 | |
| Reserves and Surplus | 27.41 | 26.52 | |
| Amount in ₹ Crore | |||
The promoter of the company is Chemmanur Devassykutty Boby
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
| # | Issue Objects |
|---|---|
| 1 | For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the company; and |
| 2 | General corporate purposes. |
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | |
|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Monthly | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 367 Days | 18 Months | 24 Months | 36 Months | 60 Months | 367 Days | 24 Months | 60 Months | 70 Months |
| Coupon (% per Annum) | 9.50% | 10.75% | 11.00% | 11.25% | 12.00% | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 9.92% | 11.30% | 11.57% | 11.85% | 12.68% | 9.50% | 11.00% | 12.25% | 12.62% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,095.52 | Rs 1,232.00 | Rs 1,782.10 | Rs 2,000.28 |
Chemmanur Credits and Investments Limited was incorporated in December 2008 and is part of the Boby Chemmanur Group, which operates in various business segments and is headquartered in Kerala, India. Apart from India, the group also operates retail gold jewellery stores in the USA and the Middle East. Boby Chemmanur Group has obtained BIS certification for purity of gold.
It offers various gold loan programmes to cater to the individual needs of its customers. Currently, gold loans are offered with terms of up to 180 days. The programmes differ in terms of the interest rate to be paid, the amount per gramme of gold, the term and the amount of the loan.
In the microfinance segment (“microfinance loans"), unsecured loans are granted to a group of female customers (at least 5 people) for their business and personal needs. Under the Joint Liability Group (“JLG”) model, loans are granted to individual clients, but the Group guarantees the repayment of the loans granted to the individual members of the Group.
The Group also offers business loans, known as Gramin Shakthi Loan (“Business Loan”), to its customers for their business needs. These are secured business loans where the target customers are in small businesses but currently rely on informal sources of finance. The purpose of this type of loan is to enable customers to expand their business. Gramin Shakthi loans help clients overcome the difficulties in meeting their financing needs or raising working capital.
