Chemmanur Credits and Investments Limited is a registered non-deposit-taking, non-banking financial company (NBFC) under the supervision of the Reserve Bank of India (RBI).
The core focus of the company lies in providing gold loans, where it offers financial assistance by accepting household gold jewellery as collateral in the states of Kerala, Tamil Nadu, and Karnataka.
Moreover, Chemmanur Credits and Investments Limited extends its services beyond gold loans to include microfinance loans, business and personal loans, money transfer services, and the distribution of insurance products on behalf of third parties.
As of December 31, 2023, the company boasted a network of 236 branches spread across five states: Kerala, Tamil Nadu, Karnataka, Maharashtra, and Andhra Pradesh. Its workforce comprised 1,236 employees dedicated to serving its clientele.
The company operates under the umbrella of the Boby Chemmanur Group, headquartered in Kerala, India. This conglomerate is involved in various business sectors, prominently including gold jewellery ventures across India, the USA, and the Middle East. Notably, the Boby Chemmanur Group has earned BIS certification for the purity standards of its gold products.
Chemmanur Credits and Investments NCD IPO Feb. 2024 Detail
| Issue Open | February 20, 2024 – March 4, 2024 |
| Security Name | Chemmanur Credits and Investments Limited NCD IPO |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 50.00 Crores |
| Issue Size (Oversubscription) | Rs 50.00 Crores |
| Overall Issue Size | Rs 100.00 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 | 365 Days, 18, 24, 36, 60, and 72 Months |
| Series | Series I to VIII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Mitcon Credentia Trusteeship Services Limited |
NCD IPO Allocation Ratio
Chemmanur Credits and Investments Limited NCD IPO Coupon Rates
NCD IPO Rating
The NCDs proposed to be issued under the Issue has been rated IND BBB-/Stable by India Ratings and Research Private Limited.
Company Promoters
Chemmanur Devassykutty Boby is the promoter of the company.
Company Financials
Chemmanur Credits and Investments Limited NCD IPO Financial Information (Restated)
Chemmanur Credits and Investments Limited’s revenue increased by 13.47% and profit after tax (PAT) dropped by -81.4% between the financial year ending with March 31, 2023 and March 31, 2022.
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- For onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the company; and
- General corporate purposes.
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