Mahindra & Mahindra Financial Services Ltd (MMFSL) launched Public Issue of unsecured subordinated redeemable non-convertible Debentures of 250 crores with an option to retain over subscription upto 1000 crores, Issue open from 25 May 2016 and issue close on 10 June 2016. (Early Close 26 May 2016)
Before investment in this NCD check what type of risk involved in Unsecured Subordinated debenture.
Subordinated debt has a lower priority than other bonds of the issuer in case of liquidation during bankruptcy and rank below: the liquidator, govt. tax authorities and senior debt holder in the hierarchy of creditor. Debt instruments with the lowest seniority are known as subordinated debt instruments. (Meaning of Subordinated Debt) Refer Draft Prospect page 27
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[wptabtitle] Product Note[/wptabtitle] [wptabcontent]
Mahindra & Mahindra Financial Services Ltd NCD Issue Highlights
| Issuer | Mahindra & Mahindra Financial Services |
|---|---|
| Type of Instrument | Unsecured Redeemable, NCD |
| Issue Open | 25 May 2016 |
| Issue Close | 10 June 2016 (with option of early closure or extension) |
| Issue Size | 250 Cr. with an option to retain oversubscription of 1000 Cr. |
| Face Value | Rs. 1,000 |
| Min. Application Size | 10 Bonds (Rs.10000) & multiply of 1 NCD thereafter (across all series NCD) |
| Interest | Quarterly , Annually & Cumulative |
| Mode of Allotment | D'mat as well as Physical Form |
| Rating | ICRA AAA & "IND AAA" by IRRPL |
| Listing | BSE |
| Application Money Interest (refunded) | 5.00% |
| Allotment Money Interest | 7.50% |
| NRI Application not accepted |
Specific Term of Issue – Retail Category (III & IV)
| Options | I | II | III | IV | V | VI |
|---|---|---|---|---|---|---|
| Tenor | 66 M | 84 M | 120 M | 66 M | 84 M | 120 M |
| Base Coupon - Cat III & IV | 8.44% | 8.53% | 8.72% | 8.70% | 8.80% | 9.00% |
| Face Value | 1000 | 1000 | 1000 | 1000 | 1000 | 1000 |
| Interest Payment | Quarterly | Quarterly | Quarterly | Annual | Annual | Annual |
| Security | UnSecured | UnSecured | UnSecured | UnSecured | UnSecured | UnSecured |
| Maturity | 1000 | 1000 | 1000 | 1000 | 1000 | 1000 |
| Options | VII | VIII | IX |
|---|---|---|---|
| Tenor | 66 M | 84 M | 120 M |
| Base Coupon - Cat III & IV | NA | NA | NA |
| Face Value | 1000 | 1000 | 1000 |
| Interest Payment | Cumulative | Cumulative | Cumulative |
| Security | UnSecured | UnSecured | UnSecured |
| Maturity | 1582.75 | 1805.11 | 2368.49 |
Cheque Details :
Cheque / DD should be drawn in favour of “MMFSL NCD I Public Issue – Escrow Account “
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[wptabtitle] About Issue[/wptabtitle] [wptabcontent]
About Company
Mahindra & Mahindra Financial Services is one of leading non-banking finance companies (NBFC) with customer primarily rural and semi urban market. Company is part of Mahindra Group, which is one of the largest business conglomerates in India. MMFSL is engaged in providing financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles. MMFSL also provide housing finance, personal loans, financing to small and medium enterprises, insurance broking and mutual fund distribution services. In addition company also provide wholesale inventory financing to dealers and retail finance to customers in the United States for purchase of Mahindra Group product through Mahindra Finance USA LLC, the joint venture with a subsidiary of the Rabobank group.
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[wptabtitle] Subscription[/wptabtitle] [wptabcontent]
Mahindra & Mahindra Financial Services data
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[wptabtitle] Listing[/wptabtitle]
Mahindra & Mahindra Financial Services Ltd Allotment & Listing details
| NCD - | Mahindra & Mahindra Financial Services Ltd |
|---|---|
| Issue Open | 25 May 2016 |
| Issue Close | 26 May 2016 |
| Issue Registrar | Karvy Computershare Pvt Ltd |
| Listing Exchange | BSE |
| Allotment Date | 06 June 2016 |
| Listing Date | 09 June 2016 |
| Interest Payment Date | 6 June for Yearly & 6 Sep/6Dec/ 6 Mar/ 6 June for Qtly Option |
| Face Value | 1000 |
| Circular Ref. No | BSE - 20160608-6 |
| Series | 1 A | 1 B | 2 A | 2 B | 3 A | 3 B |
|---|---|---|---|---|---|---|
| Coupon | 8.34% | 8.44% | 8.44% | 8.53% | 8.53% | 8.72% |
| Security Desc | Unsecure | Unsecure | Unsecure | Unsecure | Unsecure | Unsecure |
| ISIN No | INE 774D08LP6 | INE 774D08LQ4 | INE 774D08LR2 | INE 774D08LS0 | INE 774D08LT8 | INE 774D08LU6 |
| BSE Script | 935730 | 935732 | 935734 | 935736 | 935738 | 935740 |
| Script ID | 834MMFSL21 | 844MMFSL21 | 844MMFSL23 | 853MMFSL23 | 853MMFSL26 | 872MMFSL26 |
| Maturity | 06-12-2021 | 06-12-2021 | 06-06-2023 | 06-06-2023 | 06-06-2026 | 06-06-2026 |
| Maturity Amt | 1000 | 1000 | 1000 | 1000 | 1000 | 1000 |
| Series | 4 A | 4 B | 5 A | 5 B | 6 A | 6 B |
|---|---|---|---|---|---|---|
| Coupon | 8.60% | 8.70% | 8.70% | 8.80% | 8.80% | 9.00% |
| Security Desc | Unsecure | Unsecure | Unsecure | Unsecure | Unsecure | Unsecure |
| ISIN No | INE 774D08LV4 | INE 774D08LW2 | INE 774D08LX0 | INE 774D08LY8 | INE 774D08LZ5 | INE 774D08MA6 |
| BSE Script | 935742 | 935744 | 935746 | 935748 | 935750 | 935752 |
| Script ID | 86MMFSL21 | 87MMFSL21 | 87MMFSL23 | 88MMFSL23 | 88MMFSL26 | 9MMFSL26 |
| Maturity | 06-12-2021 | 06-12-2021 | 06-06-2023 | 06-06-2023 | 06-06-2026 | 06-06-2026 |
| Maturity Amt | 1000 | 1000 | 1000 | 1000 | 1000 | 1000 |
| Series | 7 B | 8 B | 9 A | 9 B |
|---|---|---|---|---|
| Coupon (Yield) | 8.70% | 8.80% | 8.80% | 9.00% |
| Security Desc | Unsecure | Unsecure | Unsecure | Unsecure |
| ISIN No | INE 774D08MC2 | INE 774D08ME8 | INE 774D08MF5 | INE 774D08MG3 |
| BSE Script | 935754 | 935756 | 935758 | 935760 |
| Script ID | MMFSL21 | MMFSL23 | MMFSL26 | MMFSL26A |
| Maturity | 06-12-2021 | 06-06-2023 | 06-06-2026 | 06-06-2026 |
| Maturity Amt | 1582.75 | 1805.11 | 2325.36 | 2368.49 |
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For Investment & any query , Kindly Write to us at
Call Rajendra 7719917444
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