Kosamattam Finance Limited is a non-deposit-taking NBFC focused primarily on gold loans. It is part of the Kosamattam Group, led by Mathew K. Cherian, and headquartered in Kottayam, Kerala.
The company provides loans against household ornaments to various customers, including businessmen, vendors, traders, farmers, employees, and families across Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Maharashtra, Delhi, Gujarat, Telangana, and Puducherry.
In addition to gold loans, Kosamattam Finance offers various fee-based services, such as microfinance, money transfer, power generation, foreign currency exchange, agriculture, and air ticketing services.
As of March 31, 2024, the company operated 986 branches across Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Delhi, Maharashtra, Gujarat, Uttar Pradesh, Telangana, and Puducherry, employing over 3,842 people.
Kosamattam Finance NCD IPO July 2024 Detail
| Issue Open | July 19, 2024 – August 1, 2024 |
| Security Name | Kosamattam Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 100.00 Crores |
| Overall Issue Size | Rs 200.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | IND A-/Stable by India Ratings & Research Private Limited (IRRPL). |
| Tenor | 18, 24, 30, 36, 39, 48, 60 and 84 months |
| Series | Series I to VIII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vistra Itcl India Limited |
Kosamattam Finance NCD IPO Allocation Ratio
Kosamattam Finance Limited NCD IPO Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 |
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 24 Months | 30 Months | 36 Months | 39 Months | 60 Months | 48 Months | 84 Months |
| Coupon (% per Annum) | NA | 9.25% | NA | 10.00% | NA | 10.25% | NA | NA |
| Effective Yield (% per Annum) | 9.00% | 9.65% | 9.41% | 10.47% | 9.75% | 10.75% | 10.67% | 10.41% |
| Amount on Maturity (In Rs.) | Rs 1,138.00 | Rs 1,000.00 | Rs 1,252.00 | Rs 1,000.00 | Rs 1,353.00 | Rs 1,000.00 | Rs 1,500.00 | Rs 2,000.00 |
Kosamattam Finance NCD IPO Rating
The NCDs to be issued in this offering have been rated “IND A-/Stable” by India Ratings & Research Private Limited (IRRPL) for an amount up to ₹20,000 lakhs.
Company Promoters
Mathew K. Cherian, Laila Mathew, and Jilu Saju Varghese are the company’s promoters.
Objects of the Issue
The company plans to use the net proceeds from the issue for the following purposes:
- Onward lending.
- Repayment of interest and principal on existing debts.
- General corporate purposes.
Keep reading and supporting thezipco!
