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The NCDs proposed to be issued will be secured by a first ranking pari passu charge by way of hypothecation in favour of the Debenture Trustee, on the financial and non-financial assets (including investments) of the Company, both present and future; and on present and future loan assets of the Company, including all monies receivable for the principal amount and interest thereon, on a first ranking pari passu basis with all other secured lenders to the Issuer holding pari-passu charge over the security, as specifically set out in and fully described in the Debenture Trust Deed. The NCDs will have a minimum security cover of 1.25 times on the principal amount and interest thereon at all times during the tenor of the NCDs. The Issuer reserves the right to sell or otherwise deal with the receivables, both present and future, including without limitation to create a charge on pari passu or exclusive basis thereon for its present and future financial requirements, provided that a minimum-security cover of 1.25 times on the principal amount and accrued interest thereon, is maintained, on such terms and conditions as the Issuer may think appropriate, without the consent of, or intimation to, the NCD Holders or the Debenture Trustee in this connection. However, if consent and/or intimation is required under applicable law, then the Company shall obtain such consents and/ or intimation in accordance with such law. We have received necessary consents from the relevant lenders, debenture trustees and security trustees for ceding pari passu charge in favour of the Debenture Trustee in relation to the NCDs. The security shall be created prior to making the listing application for the NCDs with the Stock Exchanges. The NCDs shall be considered as secured only if the charged asset is registered with sub-registrar and RoC or CERSAI or Depository etc., as applicable, or is independently verifiable by the Debenture Trustee. Without prejudice to the aforesaid, in the event our Company 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, our Company 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 this Draft Shelf Prospectus, till the execution of the Debenture Trust Deed. The revaluation and replacement of the security shall be in accordance with the Debenture Trust Deed and in accordance with the applicable laws. |
| Issue Details |
| Issue Open |
06-Sep-2024-19-Sep-2024 |
| Security Name |
SAMMAAN CAPITAL LIMITED |
| Security Type |
Secured Redeemable Non-Convertible Debentures |
| Issue Size (Base) .Cr |
125 |
| Over subscription |
An Option To Retain Oversubscription Up To Rs. 125 Crores Aggregating To Rs. 250 Crores. |
| Issue Price |
1000 |
| Face Value |
1000 |
| Market Lot |
1 |
| Credit Rating |
CRISIL AA/Stable by CRISIL and [ICRA] AA (Stable) by ICRA. |
| Tenor |
24 months,36 Months,60 months,84 Months,120 Months |
| Series |
Series1,Series2,Series3,Series4,Series5,Series6,Series7,Series8,Series9,Series10,Series11,Series12 |
| Payment Frequency |
Yearly,Monthly,At the End |
| Objects of the Issue: |
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PUBLIC ISSUE BY SAMMAAN CAPITAL LIMITED (FORMERLY KNOWN AS INDIABULLS HOUSING FINANCE LIMITED) ("COMPANY" OR "ISSUER") OF UPTO 2500000 SECURED, REDEEMABLE, NON-CONVERTIBLE DEBENTURES OF FACE VALUE RS. 1000 EACH ("NCDs" OR "DEBENTURES"), AMOUNTING UP TO RS. 125 CRORE ("BASE ISSUE SIZE") WITH AN OPTION TO RETAIN OVERSUBSCRIPTION OF UPTO RS. 125 CRORE ("GREEN SHOE OPTION") AGGREGATING UP TO RS. 250 CRORE ("TRANCHE I ISSUE SIZE" OR "TRANCHE I ISSUE"). THE TRANCHE I ISSUE SIZE IS WITHIN THE SHELF LIMIT OF RS. 2000 CRORE. |
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| Lead Managers |
| 1. Nuvama Wealth Management Limited |
| 2. ELARA CAPITAL (INDIA) PRIVATE LTD |
| 3. Trust Investment Advisors Private Limited |
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| Registrar to the Issue |
| 1. KFIN Technologies Ltd |
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