Kosamattam Finance Limited operates as a non-deposit-taking Non-Banking Financial Company (NBFC) primarily focused on providing gold loan services. Under the leadership of Mathew K. Cherian, the company, a part of the Kosamattam Group, is headquartered in Kottayam, Kerala. The primary service of Kosamattam Finance involves offering loans by accepting household jewelry as collateral. These loans serve a diverse clientele, including business owners, merchants, traders, farmers, salaried professionals, and households across various regions such as Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Maharashtra, Delhi, Gujarat, Telangana, and the Union Territory of Puducherry. Furthermore, Kosamattam Finance NCD IPO gained notable attention with its NCD IPO.
Additionally, apart from its core gold loan business, the company diversifies its offerings by providing various fee-based services. These include microfinance, money transfer facilities, power generation, foreign currency exchange, agricultural services, and air ticketing.
As of September 30, 2023, Kosamattam Finance Limited operated through 994 branches spread across eight states and one union territory.
Kosamattam Finance NCD IPO January 2024 Detail
| Issue Open | January 1, 2024 – January 12, 2024 |
| Security Name | Kosamattam Finance NCD IPO Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Shelf) | Rs 200.00 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 A-/Stable by India Ratings |
| Tenor | 18, 24, 30, 36, 39, 48, 54, and 88 months |
| Series | Series I to VIII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vistra Itcl India Limited |
Kosamattam Finance NCD IPO Allocation Ratio
Kosamattam Finance NCD IPO Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 100,000 |
| Non-Institutional | 100,000 |
| HNI | 300,000 |
| Retail | 500,000 |
| Total NCD’s | 1,000,000 |
Kosamattam Finance NCD IPO Limited Coupon Rates
NCD Rating
The NCDs proposed to be issued under this Issue have been rated ‘IND A-/Stable’, by India Ratings & Research Private Limited.
Company Promoters
The promoters of the company are Mathew K. Cherian, Laila Mathew and Jilu Saju Varghese.
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- For the purpose of onward lending.
- For repayment of interest and principal of existing debts of the company.
- For general corporate purposes.
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