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Company Background

Magma Fincorp Limited is a non-banking finance company, incorporated on December 18, 1978 as ARM Group Enterprises Private Limited. MFL was converted into a public limited company in 1980 and the name of the Company was subsequently changed to Magma Leasing Limited in 1993. In 2008, the company name was changed to Magma Fincorp Limited. Company commenced its financing business in 1989, and has almost three decades of experience in such business. Company is engaged in providing asset backed financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles, mortgage financing, financing to SMEs and distribution of general insurance products.

Issue Details

Issue opens April 8, 2019
Issue closes May 8, 2019
Allotment First Come First Serve Basis
Face Value Rs. 1000 per NCD
Issue Price Rs. 1000 per NCD
Nature of Instrument Secured Redeemable Non-Convertible Debentures
Minimum Application Rs.10,000 (10 NCD)
Registrar Karvy Fintech Private Limited (formerly known as Karvy Computershare
Pvt Limited)
Listing BSE
Rating “BWRAA (Outlook: Stable)” by Brickworks and “ACUITEAA/Stable” by Acuite
Issue Size Base Issue of ₹200 Crores with an option to retain oversubscription up to
₹300 Crores aggregating upto Tranche I Issue Size of ₹500 Crores

Effective Yield

Series Frequency
of Interest
Payment
Tenor Coupon (%) for all
Investor categores*
Effective Yield
(per annum) (Approx.) for all
Investor
categories*
Redemption
amount (₹ per NCD)
I Annual 3 years 10.25% 10.24% Rs.1,000.00
II NA 3 years NA 10.24% Rs.1,340.10
III Monthly 5 years 10.04% 10.50% Rs.1,000.00
IV Annual 5 years 10.50% 10.49% Rs. 1,000.00
V NA 5 years NA 10.50% Rs.1,648.19
VI Monthly 10 years 10.27% 10.76% Rs.1,000.00
VII Annual 10 years 10.75% 10.74% Rs.1,000.00

Issue Break Up

Category Allocation Amount in Crs.
Base Issue Total Issue
QIB 20% 40 100
Corporate 20% 40 100
HNI 30% 60 150
Retail 30% 60 150
Total 100% 200 500
  • Note – * Persons resident outside India and other foreign entities are not allowed
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