Kerala-based KLM Axiva Finvest Ltd is planning to raise up to ₹ 200 crore via public issue of secured, redeemable non-convertible debentures (NCDs) of ₹1,000 face value each.
The NCDs carry coupon rate ranging from 9.75 per cent to 11.25 per cent, depending on the tenure, across 10 options, per the gold loan company’s prospectus.
Investors have to apply for a minimum of five NCDs — ₹5,000 (across all options of NCDs). Thereafter, investment can be made in multiples of one NCD.
Within the overall NCD issue size of ₹200 crore, the base issue size is ₹100 core and the greenshoe option is ₹100 crore. The issue opened on Tuesday and closes on March 11.
The non-deposit taking non-banking finance company said it proposes to use the funds for onward lending, repayment of interest and principal of existing borrowings and for general corporate purposes.
AUM rises
The NBFC’s assets under management increased to ₹942 crore as at September-end 2021 against ₹747 crore as at March-end 2021. Its product portfolio comprises gold loans; micro, small and medium enterprises loans; personal loans and microfinance loans.
As on December 31, 2021, the company had 342 branches across Kerala, Karnataka, Tamil Nadu and Telangana. Its net profit in FY21 jumped 13 times to ₹7.14 crore from ₹53.12 lakh in FY20.
Published on
February 15, 2022
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