Founded in 1997, KLM Axiva Finvest Ltd is a non-deposit-taking, systemically important non-banking finance company (NBFC Middle Layer) that caters to low- and middle-income individuals and businesses.
KLM Axiva Finvest operates in four main areas: 1. Gold Loans, 2. MSME loans, 3. Personal Loans, and 4. Microfinance loans for women.
As of March 31, 2024, March 31, 2023, and March 31, 2022, the company had outstanding gold loans totaling ₹1,06,750.72 lakhs, ₹93,796.18 lakhs, and ₹62,546.94 lakhs, respectively.
From March 31, 2022, to March 31, 2024, the AUM in Gold loans, MSME loans, and Micro Finance loans grew at a CAGR of 30.59%, 13.28%, and 47.46%, respectively.
KLM Axiva Finvest’s product portfolio includes:
- Gold Loans: Loans secured by household gold jewelry.
- MSME Loans: Loans for small and medium-sized enterprises, including businessmen, manufacturers, traders, and self-employed professionals.
- Personal Loans: Loans for individuals against tangible collateral.
- Microfinance Loans: Loans for women to meet personal and business needs.
- Vehicle Loans: Loans for two-wheelers, specifically for women customers.
As of March 31, 2024, the company operates 670 branches across Kerala, Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Maharashtra, managed from its corporate office in Kochi.
KLM Axiva Finvest NCD IPO July 2024 Detail
| Issue Open | July 22, 2024 – August 2, 2024 |
| Security Name | KLM Axiva Finvest Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Oversubscription) | Rs 75.00 Crores |
| Overall Issue Size | Rs 150.00 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 | |
| Tenor | 400 days, 16, 18 & 79 Months, 2 , 3 & 5 Years |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vistra Itcl India Limited |
KLM Axiva Finvest NCD IPO Allocation Ratio
KLM Axiva Finvest Limited NCD IPO Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Monthly | Annual | Monthly | Annual | Monthly | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 400 Days | 16 Months | 18 Months | 2 Years | 2 Years | 3 Years | 3 Years | 5 Years | 5 Years | 79 Months |
| Coupon (% per Annum) | 9.50% | NA | 9.85% | 10.00% | 10.25% | 10.25% | 10.25% | 10.75% | 11.00% | NA |
| Effective Yield (% per Annum) | 9.92% | 9.96% | 10.31% | 10.47% | 10.25% | 10.75% | 10.50% | 11.30% | 11.00% | 11.10% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | NA | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 2,000.00 |
NCD Rating
The proposed NCDs under this issue have been rated “ACUITE BBB” by Acuité Ratings & Research Limited (“IRRPL”) and “IND BBB-/Stable” by India Ratings & Research Private Limited, for an amount up to ₹15,000 lakhs.
Objectives of the Issue
The company plans to use the funds raised through the issue, after deducting related expenses, for the following purposes:
- Onward lending, financing, and repayment/prepayment of principal and interest on existing borrowings
- General corporate purposes
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