IndoStar Capital Finance Limited Approves Allotment of 100 Series XXX Tranche C, PP-MLD- Rated, Listed, Secured, Principal Protected, Redeemable, Non-Convertible Debentures
July 06, 2018 at 09:34 am
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The Debenture Committee of the Board of Directors of IndoStar Capital Finance Limited approved allotment of 100 series XXX Tranche C, PP-MLD AA- Rated, listed, secured, principal protected, redeemable, non-convertible debentures of face value of INR 1.0 million each, for cash at par, on private placement basis, aggregating to INR 100 million under the shelf disclosure document dated 22 June 2018 and addendum to the shelf disclosure document dated 5 July 2018. Total number of non-convertible debentures are 100. Coupon interest is Minimum 9.05% per annum (annualized return calculated on XIRR basis) on face value, Maximum 9.10% per annum (annualized return calculated on XIRR basis) on face value. However, in extreme situation no coupon amount will be paid. Schedule of payment of coupon/interest and principal is on first and final 21 June 2020 and payment at maturity is on 21 June 2020.
IndoStar Capital Finance Limited is an India-based non-banking finance company (NBFC), which is engaged in lending and allied activities. It operates through four segments: Large Corporate, Small and Medium Enterprise (SME), Commercial Vehicle, and Housing Finance. The Large Corporate segment provides loans to medium and large-sized corporates, institutional customers, and real estate developers. The SME segment provides lending to small and medium enterprises for business financing needs, including working capital, business expansion or other requirements. The Commercial Vehicle segment primarily consists of financing for used and new vehicles. The Housing Finance segment consists of affordable home financing to self-employed and salaried customers. Its corporate lending product includes secured corporate lending, real estate financing, capital market financing, and others. Its subsidiaries include IndoStar Asset Advisory Private Limited and IndoStar Home Finance Private Limited.