Opening Date
7 Dec 2023
Closing Date
20 Dec 2023
Yield
Upto 10.00%
Tenure
Upto 60 Months
Ongoing IPO
Opening Date
7 Dec 2023
Closing Date
20 Dec 2023
Time to close
Yield
Upto 10.00%
Tenure
Upto 60 Months
| Issue Size (Including Green Shoe Option) | 300 | ||
| Face Value | 1000 | ||
| Coupon | Upto 9.99% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 27 Dec 2023 | ||
| Listing Date (Tentative) | 29 Dec 2023 | ||
| Exchange Bid Time (24 Hours) | 10:00 to 17:00 | ||
Documents attached
*Allotment on first come first serve basis
Series | I | II | III | IV | V | VI |
Nature Of NCDs | Secured, Rated, Listed,Redeemable,Non-Convertible Debentures | |||||
Who Can Apply | Everyone | |||||
Tenure | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months |
Frequency of Interest payment | QUARTERLY | YEARLY | QUARTERLY | YEARLY | QUARTERLY | YEARLY |
Best Coupon Rate (% p.a.) for: | ||||||
Category 1 | 9.00 % | 9.30 % | 9.30 % | 9.65 % | 9.65 % | 10.00 % |
Category 2 | 9.00 % | 9.30 % | 9.30 % | 9.65 % | 9.65 % | 10.00 % |
Category 3 | 9.00 % | 9.30 % | 9.30 % | 9.65 % | 9.65 % | 10.00 % |
Category 4 | 9.00 % | 9.30 % | 9.30 % | 9.65 % | 9.65 % | 10.00 % |
Effective Yield (% p.a.) for: | ||||||
Category 1 | 9.29 % | 9.29 % | 9.62 % | 9.64 % | 9.99 % | 9.99 % |
Category 2 | 9.29 % | 9.29 % | 9.62 % | 9.64 % | 9.99 % | 9.99 % |
Category 3 | 9.29 % | 9.29 % | 9.62 % | 9.64 % | 9.99 % | 9.99 % |
Category 4 | 9.29 % | 9.29 % | 9.62 % | 9.64 % | 9.99 % | 9.99 % |
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BondsIndia is an online platform for fixed-income securities such as IPOs, bonds, 54EC bonds, and fixed deposits. With a cumulative pedigree of 50+ years in the bond market, we aim to democratize the market for common investors by stationing detailed insights, expert advice, and keeping a close watch on the market sentiment. BondsIndia brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive price before anyone else.
BondsIndia ditches the traditional ways of investing by offering a Technology based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose BondsIndia for its sleek interface, fail-safe communication and step-by-step guide to ensure a well-placed bid. You can apply for Edelweiss Financial Services Limited IPO on BondsIndia's website.
Place your bid in three simple steps:
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Application process on BondsIndia platform is simple and seamless.
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Rs. 3613 Crs
0.004%
KOEL, one of the flagship companies of the Kirloskar group, manufactures and services diesel engines primarily between 2.5 to 740 horsepower and diesel generator sets mainly between 2 to 1,010 kilo volt ampere. The company also makes diesel, petrol, and kerosene based pump sets. It has manufacturing units in Pune, Kagal, and Nashik all in Maharashtra. KOEL caters to the agriculture, power generation, and industrial sectors. On August 01, 2017, it acquired 76 Percent stake in La Gajjar Machineris Pvt Ltd and is likely to acquire the balance stake in the next five years, in line with the share purchase agreement. KOEL has set up an NBFC business through ARKA, with equity infusion of Rs 880 crore till date.$$$$ $$
$$For fiscal 2022, on a standalone basis, net profit was Rs 208 crores on revenue of Rs 3,300 crores, against Rs 170 crores and Rs 2,694 crores, respectively, in the previous fiscal.
Strategic importance to, and expectation of strong support from, KOEL
Arka derives strong support from its ultimate parent, KOEL, in the form of high strategic importance and strong moral obligations, being its step down subsidiary. The financial services entity has been identified as a focus area for the parentu2019s overall diversification plans. KOEL has already infused around Rs 930 crores till date Rs 125 crore and Rs 130 crore were infused in fiscal 2021 and fiscal 2022 respectively, Rs 149 crore were infused in fiscal 2023 till date, depicting strong financial support towards its subsidiary.
Adequate capitalisation for initial stages of operations
Arka benefits from funding support from the ultimate parent and has adequate capitalisation for initial stages of operations. KOEL has already infused around Rs. 930 crore till date. Capital support from the parent, is expected to keep capitalisation of Arka adequate Net worth of Rs 1,036 crore and Capital Adequacy ratio of 29.8 Percent as on December 31, 2022 and Rs 837 crore and 30.9 Percent as on March 31, 2022, with low gearing of 2.4 times as on December 31, 2022 2.1 times as on March 31, 2022 in the initial stages of operation.
Nascent stage of operations
As operations have only commenced in April 2019, they are still in the initial stage. The total loan book stood at Rs 3,390 crore as on December 31, 2022 Rs 2,380 crore as on March 31, 2022 and Rs 1,124 crore as on March 31, 2021 with a mix of corporate 45 Percent, real estate 32 Percent and SME micro SME exposure 23 Percent. Going ahead, Arka plans to build a loan book with a healthy mix of corporate, real estate and MSME segments. The companys ability to scale up operations with a healthy loan book, while maintaining its asset quality over the medium term would be a key monitorable.
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