Manappuram Finance NCD Oct 2018 Issue
Manappuram Finance NCD Oct 2018 Issue will be open for subscription on October 24, 2018. The NCD offers 10.4% interest rates. These are safe NCDs. In such low interest period, Manappuram Finance’s NCD will surely attract investors who invest in short-term investment for a medium term.
About Manappuram Finance Ltd.
Manappuram Finance Limited is one of the major NBFC players in the gold finance business in India. (Source: CRISIL Report) It provides loans against the pledge of household and/or used gold jewelry and provide short-term personal and business gold loans (“Gold Loans”) primarily to retail customers who require immediate availability of funds, but who do not have access to formal credit on an immediate basis.
The Company commenced operations from Valapad, Thrissur, Kerala and have decades of established history in the money lending business, mainly in small-scale money lending against household and/or used gold jewelry. Its lending functions are supported by an in-house, custom developed information technology platform that allows it to, among other things, record relevant customer details, approve and disburse the loan. Its technology platform also handles internal audit, risk monitoring and management of the relevant loan and pledged gold related information.
When a company wants to raise money from the public, it issues a loan for a specific period where it gives a fixed interest on the investment. This document is known as a debenture. Some debentures are called convertible debentures because they can be converted into equity after maturity. Non-Convertible Debentures or NCDs, and after maturity, the principal amount along with accumulated interest will be given to the holder of the instrument.
Like the traditional corporate FD, NCD is a fixed-income investment with a specific duration and interest income. Companies release them to raise funds, and clearly, they cannot convert them to equity. With NCD investors can enjoy high returns, liquidity, low risk and tax exemption against convertible debentures.
- Issuer: Manappuram Finance Limited
- Issue opening date: Monday, October 24, 2018
- Issue closing date: Monday, November 22, 2018
- Allotment: First Come First Serve Basis
- Face Value: Rs. 1,000 per NCD
- Issue Price: Rs.1,000 per NCD Nature of Instrument:Secured NCDs Minimum Application: Rs.10,000 (10 NCD)
- Listing: BSE
- Rating: CARE AA/Stable” by CARE Ratings Limited and BWR AA+/Stable” by Brickwork Ratings India Private Limited
- Application Mode: Compulsorily ASBA
- Registrar: Link Intime India Private Limited
- Issue :Public issue of secured, redeemable, non- convertible debentures of face value of ₹ 1,000 each for an amount aggregating u to ₹ 10,000 million
- Allotment on First come First basis
Investment Details of Manappuram Finance NCD Oct 2018 Issue .
What are the credit ratings for these NCDs?
The Secured NCDs have been rated by CARE as AA/Stable.
The Secured NCDs have been rated by BWR AA+/Stable.
Manappuram Finance NCD Oct 2018 Issue– Tax treatment.
TDS will not be reduced for investors who apply through a demat account.
Income tax will be based on personal tax slabs. This means that, regardless of whether the company will deduct TDS or not, you should show interest income on your income tax return and pay the required income tax.
How to apply these Manappuram Finance NCD Oct 2018 Issue?
Manappuram Finance NCD Oct 2018 Issue is available in only in demat form. Download application form.