* Effective yield p.a for category III (Retail) - Series III & VI.
| Issue Opens | Wednesday, April 16, 2014 | Minimum Application | 10 NCDs (Rs. 10,000) across all series of NCDs |
| Issue Closes | Friday, May 16, 2014 | Effective Yield (Category III) |
11.00% per annum for Series I & IV 11.50% per annum for Series II & V 11.75% per annum for Series III & VI |
| Issue Price | Rs. 1000/- per NCD | Credit Ratings | 'CARE AA' by CARE |
Shriram City Union Finance Ltd. are a deposit-taking NBFC with multiple product lines, including loans to the small enterprise finance segment; loans against gold; financing for two wheelers, appliances and other commercial goods (referred to herein as “Product Finance”); pre-owned and new vehicle loans and personal loans. We are the market leader in the small loan segment with an estimated market share of 41.6% in fiscal 2013 (Source: Analysis of the MSME Small Loan Credit Market for NBFCs in India, June 2013 by Frost & Sullivan). We are part of the Shriram Group of companies (the “Shriram Group”), a financial services conglomerate in India.
We believe we are India’s premier financial services company specializing in small enterprise finance, which accounted for 40.33%, 29.39%, 24.42% and 48.98% of our assets under management for the financial years 2013, 2012, 2011 and six months ended September 30, 2013, respectively. Since commencing operations in 1986, we have established a pan-Indian presence, through 1,021 business outlets as of September 30, 2013. We cater to the financing needs of our small enterprises and retail customers, which constitute a significant part of our customer base.
| Issue Opens | Wednesday, April 16, 2014 |
| Issue Closes | Friday, May 16, 2014 |
| Issue Price | Rs. 1000/- per NCD |
| Face Value | Rs. 1000/- per NCD |
| Minimum Application | 10 NCDs (Rs. 10,000) across all Series of NCDs |
| Rating | 'CARE AA' by CARE |
| Listing On | BSE |
| Registrar | Shriram Insight Share Brokers Limited |
| Effective Yield (Category III) |
11.00% per annum for Series I & IV 11.50% per annum for Series II & V 11.75% per annum for Series III & VI |
Allotment is on First Come First Serve Basis
| Series | I | II | III | IV | V | VI |
| Frequency of interest payment | Annual | Annual | Annual | - | - | - |
| Minumum Application | 10 NCDs (Rs. 10,000) across all Series of NCDs, either taken individually or collectively | |||||
| Face Value | Rs. 1.000/- per NCD | |||||
| Mode of interest payment* | Through various options available | NA | NA | NA | ||
| Coupon rate (%) for NCD Holders in Category I | 10.50% | 10.75% | 10.85% | - | - | - |
| Coupon rate (%) for NCD Holders in Category II | 11.00% | 11.50% | 11.75% | - | - | - |
| Coupon rate (%) for NCD Holders in Category III | 11.00% | 11.50% | 11.75% | - | - | - |
| Effective yield (p.a) for NCD Holders in Category I | 10.50% | 10.75% | 10.85% | 10.50% | 10.75% | 10.85% |
| Effective yield (p.a) for NCD Holders in Category II | 11.00% | 11.50% | 11.75% | 11.00% | 11.50% | 11.75% |
| Effective yield (p.a) for NCD Holders in Category III | 11.00% | 11.50% | 11.75% | 11.00% | 11.50% | 11.75% |
| Tenure | Twenty four months | Thirty Six months | Sixty months | Twenty four months | Thirty Six months | Sixty months |
| Redemption date | Twenty four months from the Deemed Date of Allotment | Thirty six months from the Deemed Date of Allotment | Sixty months from the Deemed Date of Allotment | Twenty four months from the Deemed Date of Allotment | Thirty six months from the Deemed Date of Allotment | Sixty months from the Deemed Date of Allotment |
| Redemption amount (per NCD) | Repayment of the face value plus any interest that may have accrued at the Redemption Date. | For Category I NCD Holders: Rs. 1,221.03 per NCD** For Category II & III NCD Holders: Rs. 1,232.10 per NCD** | For Category I NCD Holders: Rs. 1,358.41 per NCD** For Category II & III NCD Holders: Rs. 1,386.20 per NCD** | For Category I NCD Holders: Rs. 1,673.70 per NCD** For Category II & III NCD Holders: Rs. 1,742.76 per NCD** | ||
| Record Date | 15 (fifteen) days prior to the relevant interest payment date or relevant Redemption Date for NCDs | 15 (fifteen) days prior to the Redemption Date for NCDs | ||||
| Security | The principal amount of the NCDs to be issued in terms of this Prospectus together with all interest due on the NCDs, as well as all costs, charges, all fees, remuneration of the Debenture Trustee and expenses payable in respect thereof by way of a first and exclusive charge on specified future receivables of our Company in favour of the Debenture Trustee and a pari passu charge on identified immovable property of our Company, as may be decided mutually by our Company and the Debenture Trustee. | |||||
Our Company shall allocate and Allot NCDs of Series VI to all valid applications, wherein the Applicants have not indicated their choice of the relevant NCD series.
* For various modes of interest payment, see the section titled "Terms of the Issue - Modes of Payment" on page 173
** Subject to applicable taxes deducted at source, if any.
Click here to download the prospectus of this NCD Issue.
Issuer |
Shriram City Union Finance Limited |
| Issue Size | Rs. 10,000 lakhs. |
| Option to retain oversubscription | Upto Rs. 10,000 lakhs for issuance of additional NCDs. |
| Stock Exchanges proposed for listing of the NCDs | BSE |
| Trading lot | 1 (one) NCD |
| Depositories | NSDL and CDSL |
| Security | The principal amount of the NCDs to be issued in terms of this Prospectus together with all interest due on the NCDs, as well as all costs, charges, all fees, remuneration of the Debenture Trustee and expenses payable in respect thereof shall be secured by way of first and exclusive charge in favour of the Debenture Trustee on an identified immovable property and specified future receivables of the Company, as may be decided mutually by the Company and the Debenture Trustee. |
| Rating | 'CARE AA' from CARE. |
| Issue Schedule | The Issue shall be open from April 16, 2014 to May 16, 2014. |
| Pay-in date | Date of application. |
| Deemed Date of Allotment | The Deemed Date of Allotment for the NCDs shall be the date of issue of the Allotment Advice, or such date as may be determined by the Board or a duly constituted committee thereof, and notified to the BSE. All benefits relating to the NCDs including interest on the NCDs shall be available to the investors from the Deemed Date of Allotment. The actual Allotment of NCDs may take place on a date other than the Deemed Date of Allotment. |
| Categories | Allocation Ratio | Basis of allocation incase of over subscription | |
| Category I – Institutional and Non-Institutional Investors |
|
20% of Overall Issue Size | On first-come-first-serve basis |
| Category II – High Net-Worth Individuals |
|
40% of Overall Issue Size | On first-come-first-serve basis |
| Category III – Retail Individual Investors |
|
40% of Overall Issue Size | On first-come-first-serve basis |
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