Opening Date
25 Apr 2023
Closing Date
27 Apr 2023
Yield
Upto 8.40%
Tenure
Upto 60 Months
Ongoing IPO
Opening Date
25 Apr 2023
Closing Date
27 Apr 2023
Time to close
Yield
Upto 8.40%
Tenure
Upto 60 Months
| Issue Size (Including Green Shoe Option) | 1,000 | ||
| Face Value | 1000 | ||
| Coupon | Upto 8.40% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 3 May 2023 | ||
| Listing Date (Tentative) | 10 May 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, redeemable, non-convertible debentures | |||||
Who Can Apply | Everyone | |||||
Tenure | 22 Months | 22 Months | 37 Months | 37 Months | 60 Months | 60 Months |
Frequency of Interest payment | YEARLY | CUMULATIVE | YEARLY | CUMULATIVE | YEARLY | CUMULATIVE |
Best Coupon Rate (% p.a.) for: | ||||||
Category 1 | 8.25 % | -N.A.- | 8.30 % | -N.A.- | 8.40 % | -N.A.- |
Category 2 | 8.25 % | -N.A.- | 8.30 % | -N.A.- | 8.40 % | -N.A.- |
Category 3 | 8.25 % | -N.A.- | 8.30 % | -N.A.- | 8.40 % | -N.A.- |
Category 4 | 8.25 % | -N.A.- | 8.30 % | -N.A.- | 8.40 % | -N.A.- |
Effective Yield (% p.a.) for: | ||||||
Category 1 | 8.26 % | 8.25 % | 8.30 % | 8.30 % | 8.39 % | 8.40 % |
Category 2 | 8.26 % | 8.25 % | 8.30 % | 8.30 % | 8.39 % | 8.40 % |
Category 3 | 8.26 % | 8.25 % | 8.30 % | 8.30 % | 8.39 % | 8.40 % |
Category 4 | 8.26 % | 8.25 % | 8.30 % | 8.30 % | 8.39 % | 8.40 % |
Application process on BondsIndia platform is simple and seamless.
•Click on the details of the company on the home page
•Fill in the Application form with the basic details such as Name, email address, mobile number, Pan details, bank and Demat details
•Then, confirm the quantity and price and select payment method.
•That's all folks , bidding complete!
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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:
Key in Basic Details
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Application process on BondsIndia platform is simple and seamless.
Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.
106412
3.50%
2.10%
Part of the Chennai based Murugappa group, Chola Finance was incorporated in 1978. The company mainly provides vehicle financing and LAP, along with home, MSME (micro, small and medium enterprises) and agricultural loans. It had 1,098 branches across 29 states in India, with 81% presence across tier III and tier IV cities, as on June 30, 2020.
Between April 2005 and March 2010, the company operated as a joint venture between DBS Bank and the Murugappa group. In March 2010, DBS Bank sold its 37.5% equity stake to the Murugappa group. Chola Finance exited the unsecured personal loan segment in October 2008. It also exited its asset management business through a complete stake sale in DBS Chola Asset Management to L&T Finance Ltd in September 2009. The Murugappa group currently holds 51.7% equity stake in Chola Finance, of which 45.5% is held by Cholamandalam Financial Holdings Ltd, a group company.
Healthy market position in the vehicle financing segment
Chola Finance has sustained its strong market position in the vehicle financing segment which constitutes over two thirds of the total financing business. Overall growth has been healthy in recent years there was a five-year compound annual growth rate (CAGR) of around 19%, with assets under management (AUM) increasing to Rs 63,501 crore as on June 30, 2020 (Rs 60,549 crore as on March 31, 2020). The vehicle finance book comprised of commercial vehicles (CVs 53%) followed by cars (13%) and multi utility vehicles, construction equipment and tractors constituted the remaining. Further, around 75 of the AUM was towards financing of new vehicles.
Strong expectation of support from the Murugappa group
Significant equity and management support continues from the Murugappa group, which holds a majority equity stake of 51.7% in the company through Cholamandalam Financial Holdings Ltd F45.5% and other group entities. The groups credit risk profile has strengthened due to increasing business diversity and improving debt protection metrics. It has, in the past, demonstrated timely funding support to Chola Finance during weak liquidity conditions. In fiscal 2020, it infused capital of Rs 300 crore thus augmenting capitalisation. For over two decades, the company has been the groups arm in financial services, a key growth engine, and contributed to around 36% of the consolidated net profits in fiscal 2020.
Average credit quality in the LAP business
Delinquencies in the LAP portfolio remain high as reflected in the gross NPAs of 6.9% as on June 30, 2020 5.8% as on June 30, 2019. The company is making concrete efforts to address the credit quality challenges with higher focus on recoveries through enforcement of provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act and repossession of properties in case of wilful defaults. The ability to improve asset quality while continuing to grow the portfolio in mortgage finance will remain a monitorable. $$
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