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The principal amount of the NCDs to be issued in terms of this Prospectus together with all interest due and payable on the NCDs, thereof shall be secured by a first ranking pari passu charge by way of hypothecation on all present and future Receivables of the Company (except those specifically and exclusively charged in favour of existing charge holders as specifically set out, and fully described in the Debenture Trust Deed) such that a minimum security cover of at least 1.20 times (1.20x) of the outstanding principal amounts of the NCDs and all interest due and payable thereon is maintained at all times until the Maturity Date. We have received necessary consents for ceding pari-passu charge in favour of the Debenture Trustee in relation to the NCDs. The NCDs shall be considered as secured only if the charged asset is registered with sub-registrar and/or RoC or CERSAI or Depository etc., as applicable, or is independently verifiable by the Debenture Trustee. Without prejudice to the aforesaid, in the event the Issuer fails to execute the Debenture Trust Deed within the period specified in Regulation 18(1) of the SEBI NCS Regulations or such other time frame as may be stipulated from time-to-time, the Issuer shall also pay interest of at least 2% (two per cent) per annum to the NCD holders, over and above the interest rate on the NCDs specified in the Prospectus, till the execution of the Debenture Trust Deed. The security shall be created prior to making the listing application for the NCDs with the Stock Exchange. |
| Issue Details |
| Issue Open |
23-Apr-2024-03-May-2024 |
| Security Name |
MOTILAL OSWAL FINANCIAL SERVICES LIMITED |
| Security Type |
Secured Redeemable Non-Convertible Debentures |
| Issue Size (Base) .Cr |
500 |
| Over subscription |
AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO Rs.500 CRORES ("GREEN SHOE OPTION") AGGREGATING UP TO 10000000 NCDS FOR AN AMOUNT UP TO Rs.1000 CRORES ("ISSUE SIZE" OR "ISSUE LIMIT"). |
| Issue Price |
1000 |
| Face Value |
1000 |
| Market Lot |
1 |
| Credit Rating |
"CRISIL AA/Stable" by CRISIL and "IND AA/Stable" by IRRPL. |
| Tenor |
24 Months,36 months,60 Months,120 Months |
| Series |
Series1,Series2,Series3,Series4,Series5,Series6,Series7,Series8 |
| Payment Frequency |
Annual,At the End,Monthly |
| Objects of the Issue: |
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PUBLIC ISSUE BY OUR COMPANY OF SECURED, RATED, LISTED, REDEEMABLE NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF Rs. 1000 EACH ("NCDs") FOR AN AMOUNT AGGREGATING UP TO Rs.500 CRORES ("BASE ISSUE SIZE") WITH AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO Rs.500 CRORES ("GREEN SHOE OPTION") AGGREGATING UP TO 10000000 NCDS FOR AN AMOUNT UP TO Rs.1000 CRORES ("ISSUE SIZE" OR "ISSUE LIMIT"). |
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| Company Promoters |
| Motilal Oswal |
| Raamdeo Agarawal |
| Motilal Oswal Family Trust |
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| Lead Managers |
| 1. Trust Investment Advisors Private Limited |
| 2. Motilal Oswal Investment Advisors Limited |
| 3. Nuvama Wealth Management Limited |
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| Registrar to the Issue |
| 1. Link Intime India Private Limited |
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