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The principal amount of the Secured NCDs to be issued in terms of this Issue together with all interest due on the Secured NCDs in respect thereof shall be secured by way of an exclusive charge in favour of the Debenture Trustee on specific present and/or future receivables / assets of our Company, as may be decided mutually by our Company and the Debenture Trustee to the Proposed Issue, such that a security cover of at least 100% of the outstanding principal amounts of the NCDs and interest thereon is maintained at all times until the Maturity Date. The assets are not charged and there are no other creditors sharing the security that is offered for the issue of Secured NCDs on pari passu basis. Without prejudice to the above, 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 timeframe 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 the Prospectus, till the execution of the Debenture Trust Deed. |
| Issue Details |
| Issue Open |
20-Jun-2024-03-Jul-2024 |
| Security Name |
Sakthi Finance Limited |
| Security Type |
Secured Redeemable Non-Convertible Debentures |
| Issue Size (Base) .Cr |
75 |
| Over subscription |
An Option To Retain Oversubscription Up To Rs. 75 Crores Aggregating To Rs. 150 Crores. |
| Issue Price |
1000 |
| Face Value |
1000 |
| Market Lot |
1 |
| Credit Rating |
"[ICRA] BBB (Stable)" by ICRA. |
| Tenor |
24 months,36 Months,60 months,85 Months |
| Series |
Series1,Series2,Series3,Series4,Series5,Series6,Series7 |
| Payment Frequency |
Monthly,At the End |
| Objects of the Issue: |
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PUBLIC ISSUE BY SAKTHI FINANCE LIMITED ("THE COMPANY" OR "ISSUER") OF RATED SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF Rs.1000 EACH ("NCDs") FOR AN AMOUNT NOT EXCEEDING Rs.75 Crore (HEREINAFTER REFERRED TO AS THE "BASE ISSUE SIZE") WITH AN OPTION TO RETAIN OVER-SUBSCRIPTION FOR AN AMOUNT NOT EXCEEDING Rs. 75 Crore, AGGREGATING TO AN AMOUNT NOT EXCEEDING Rs.150 Crore (HEREINAFTER REFERRED TO AS THE "OVERALL ISSUE SIZE"). |
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| Company Promoters |
| Dr. M. Manickam |
| Shri. M. Balasubramaniam |
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| Lead Managers |
| 1. BONANZA PORTFOLIO LIMITED |
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| Registrar to the Issue |
| 1. LINK INTIME INDIA PRIVATE LIMITED |
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