JM Financial Products Limited launched a non-convertible debenture (NCD) issue, offering yields up to 8.30% for an 100 Months tenor, on Thursday. You can opt for monthly, annual, or cumulative interest payment options.
The issue which opened on 23th Sep 2021 will remain open till 14th Oct 2021. The NCD is being offered in tenors ranging from 100 months and is rated “AA Stable” by CRISIL. The issue size is ₹100 crore, with the company retaining the right to keep an additional ₹300 crore from the proceeds.
JM Financial NCD Sep 2021 Detail
| Issue Open | Sep 23, 2021 - Oct 14, 2021 |
| Security Name | JM Financial Products Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Shelf) | Rs 400.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 10 NCD |
| Listing At | BSE |
| Credit Rating | ICRA AA/Stable and CRISIL AA/Stable |
| Tenor | 39, 60 and 100 months |
| Series | Series I to Series IV |
| Payment Frequency | Annual and Monthly |
| Basis of Allotment | First Come First Serve Basis |
JM Financial NCD Allocation Ratio
NCD's allocated in each investor category:
| Category | NCD's Allocated |
|---|---|
| Institutional | 15% |
| Non-Institutional | 15% |
| HNI | 30% |
| Retail | 40% |
JM Financial NCD's Offered
NCD's offered in each investor category:
| Category | NCD's Reserved |
|---|---|
| Institutional | 150,000 |
| Non-Institutional | 150,000 |
| HNI | 300,000 |
| Retail | 400,000 |
| Total NCD's | 1,000,000 |
JM Financial NCD Coupon Rates for Eash Series
| Series 1 | Series 2 | Series 3 | Series 4 | |
|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Annual | Monthly | Annual |
| Nature | Secured | |||
| Tenor | 39 months | 60 months | 60 months | 100 months |
| Coupon Rate | 91-day T-bill* + 315 bps spread | 8.20% | 7.91% | 8.30% |
| Amount on Maturity | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 |
JM Financial NCD Rating Detail
The issue has been rated [ICRA]AA/Stable by ICRA and CRISIL AA/STABLE by CRISIL
About JM Financial
Incorporated in 1984, JM Financial Products Limited is a Non-Deposit accepting NBFC authorized by RBI. The company is a 99.45% subsidiary of JM Financial Ltd. The company offers a broad suite of customized loan products suited according to the needs of corporates, institutions, SMEs, and individuals. The company operates in the given verticals:
Bespoke Financing: This vertical caters to corporates and includes all types of bespoke lending to companies across various sectors, promoter financing against listed / unlisted securities and property collateral, acquisition financing, subordinated or mezzanine financing, other secured lendings, and syndication.
Real Estate Financing: It includes loan against land, project at early stage, project funding, loan against ready residential / commercial property and loan against shares.
Retail mortgage financing: It includes loan against land, project at early stage, project funding, loan against ready residential / commercial property and loan against shares.
Financial institution financing: Under this segment the company offers loans to RBI registered financial institutions (NBFCs, MFIs, etc) against the receivables in their loan book. The funds shall be used for onward lending to their customers, working capital requirements, refinancing, and/or any other purpose as acceptable to the Company.
The company has also ventured into the housing finance business and real estate broking business under the brand name of JMFHLand Dwello, respectively.
Company Promoters
- JM Financial Limited is the promoter of the company.
Company Financials
Summary of financial Information (Restated Consolidated)
| Particulars | For the year/period ended (₹ in Crores) | ||
|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 5,604 | 5,478 | 6,155 |
| Total Revenue | 661 | 840 | 934 |
| Profit After Tax | 138 | 160 | 204 |
Objects of the Issue:
- At least 75% for the purpose of onward lending, financing, and for repayment / prepayment of interest and principal of the borrowings of the company
- Maximum of up to 25% for General Corporate Purposes
JM Financial NCD Sep 2021 Prospectus
JM Financial NCD Lead Manager
- Equirus Capital Private Limited
- JM Financial Consultants Private Limited
Company Contact Information
JM Financial Products Limited
7th Floor, Cnergy,
Appasaheb Marathe Marg Prabhadevi,
Mumbai, Maharashtra 400 025, India
Phone: (+91 22) 6630 3030
Email: investorrelations.products@jmfl.com
Website: https://jmfinancialproducts.com/
JM Financial NCD September 2021 Registrar
KFintech Private Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: jmfpl.ncdipo@kfintech.com
JM Financial Finance NCD FAQs
When is JM Financial NCD Sep 2021 public issue coming?
The JM Financial NCD September 2021 issue opens on September 23, 2021, and closes on Oct 14, 2021, for the subscription.Note that the public issue of NCD is closed early in case it is fully subscribed (base + shelf) before its issue closing day. The allotment is done on a First Come First Serve Basis.
What is JM Financial NCD 2021 timetable?
JM FinancialNCD IPO dates are as below:JM Financial NCD March 2021 Issue Timetable
Bid/Offer Opens On Sep 23, 2021 Bid/Offer Closes On Oct 14, 2021 Record Date Deemed Date of Allotment Where can I get the JM Financial NCD September 2021 issue prospectus pdf?
Sorry, JM Financial NCD September 2021 DRHP PDF Document is not available at this time.What is JM Financial NCD September 2021 price? Tell me the pricing of JM Financial NCD issue?
JM Financial NCD September 2021 price is set at ₹1000 per NCD.What is the face value of JM Financial NCD September 2021?
The NCDs will be issued at a face value of ₹1000 for each NCD.What is the frequency of interest payment for JM Financial NCD Sep 2021?
The frequency of payment for JM Financial NCD September 2021 is Annual and Monthly.What is the minimum application size for investment in JM Financial NCD September 2021 public issue?
Each application should be for a minimum of 10 NCDs and multiples of 1 NCD thereof.What is Indiabulls Housing Finance JM Financial 2021 closing time?
JM Financial NCD September 2021 remains open for subscription on working days from 10:00 a.m. to 5:00 p.m until October 14, 2021. The bid may close earlier in case it is fully subscribed.
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