Chemmanur Credits And Investments Limited NCD IPO (Chemmanur Credits and Investments NCD Dec 2024) Detail
Established in 2008, Chemmanur Credits and Investments Limited is a non-banking financial company (NBFC) classified as a base-layer entity and registered with the Reserve Bank of India (RBI). This company does not accept deposits.
Its core business involves providing gold loans, where funds are lent against the security of household gold jewelry. These services are predominantly offered in Kerala, Tamil Nadu, and Karnataka.
In addition to gold loans, the company extends microfinance, business loans, personal loans, money transfer services, and distributes insurance products on behalf of third parties.
As of September 30, 2024, Chemmanur Credits and Investments Limited operates through 282 branches across five states—Kerala, Tamil Nadu, Karnataka, Maharashtra, and Andhra Pradesh. The company manages its operations from its registered office in Thrissur, Kerala, and employs 1,424 individuals.
The business is part of the Boby Chemmanur Group, a diversified conglomerate based in Kerala, India. The group has interests in multiple sectors and operates gold jewelry businesses in India, the United States, and the Middle East. The group is recognized for its commitment to quality, as evidenced by its BIS certification for gold purity.
Chemmanur Credits and Investments NCD IPO Dec 2024 Detail
| Issue Open | December 31, 2024 – January 13, 2025 |
| Security Name | Chemmanur Credits And Investments Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 50.00 Crores |
| Issue Size (Oversubscription) | Rs 40.00 Crores |
| Overall Issue Size | Rs 90.00 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 BBB-/Stable by India Ratings and Research Private Limited. |
| Tenor | 367 Days, 18, 24, 36, 60, and 70 Months |
| Series | Series I to IX |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Mitcon Credentia Trusteeship Services Limited |
Chemmanur Credits and Investment NCD IPO Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
Chemmanur Credits And Investments Limited NCD IPO Coupon Rates
NCD Rating
The proposed issuance of NCDs has been assigned a rating of IND BBB-/Stable by India Ratings and Research Private Limited.
Company Financials
Chemmanur Credits And Investments Limited Financial Information (Restated Consolidated)
The revenue of Chemmanur Credits and Investments Limited grew by 28%, while its profit after tax (PAT) surged by 115% between the financial years ending March 31, 2023, and March 31, 2024.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 635.04 | 499.42 | 430.46 | |||||||||||||||||||||||||||
| Revenue | 106.14 | 83.21 | 73.49 | |||||||||||||||||||||||||||
| Profit After Tax | 1.72 | 0.8 | 2.66 | |||||||||||||||||||||||||||
| Reserves and Surplus | 29.03 | 27.41 | 26.52 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
Purpose of the Issue
The Company intends to utilize the funds raised through this Issue for the following purposes:
- To support onward lending, financing activities, and the repayment or prepayment of principal and interest on the Company’s borrowings.
- For general corporate purposes.
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