Magma Fincorp Limited Profile
Magma Fincorp Limited is an India-based non-banking financial company incorporated in the year 1978. The headquartered of Magma Fincorp is in Kolkata. From 1989 company providing financial services as well. The Magma Fincorp Limited company provides equipment and vehicle financing solutions to individuals and small businesses in India. The company offer a wide range of financial products and services, together with commercial vehicle finance, construction equipment finance, car, and utility vehicle finance, strategic construction equipment finance, tractor finance, small and medium enterprise loans, and insurance, as well as refinance products.
Key Strengths:
- Rural and semi-urban markets understanding.
- Wide distribution network.
- The strong risk management framework.
- Integrated technology system.
Magma Fincorp Limited Promoters:
The promoters of the company are Celica Developers Private Limited, Microfirm Capital Private Limited, Ashita Poddar, Kalpana Poddar, Mansi Poddar, shaili Poddar.
Magma Fincorp Limited NCD details:
Symbol: MFLNCD1
Issue Opening Date: 08-Apr-2019
Issue Closing Date: 08-May-2019
Allotment: Priority Basis
Credit Rating: BWR AA/Stable and ACUITE AA/Stable
Minimum Application: 10 (Ten) NCDs (Rs. 10,000) either taken individually or collectively across all series of NCDs and in multiple of 1 NCD (Rs.1000) thereafter
In Multiples of thereafter: Rs 1,000 (1 NCD)
Face Value : Rs 1000
Price Range: Rs 1000
Issuance Mode: Demat Only
Application Mode: Compulsorily ASBA
Issue Size: Public Issue of Secured Redeemable Non-Convertible Debentures amounting to Rs. 20,000 lakhs (“Base Issue Size”) with an option to retain oversubscription up to Rs. 30,000 lakhs aggregating up to Rs. 50,000 lakhs.
Registrar: Karvy Fintech Private Limited
Listing At: BSE, NSE
IPO Market Timings: 10.00 a.m. to 5.00 p.m.
Security Type: Secured Redeemable Non-Convertible Debentures
Market Lot: 1 (one) NCD
Interest Rate & Frequency
| Series | |
| S1 | 10.25% Tenor 3 years, for Category I, II, III and IV – Annual Option |
| S2 | Payable at redemption -Rs.1,340.10 Tenor 3 years, for Category I, II, III and IV |
| S3 | 10.04% Tenor 5 years, for Category I, II, III and IV – Monthly Option |
| S4 | 10.50% Tenor 5 years, for Category I, II, III and IV – Annual Option |
| S5 | Payable at redemption -Rs.1,648.19 Tenor 5 years, for Category I, II, III and IV |
| S6 | 10.27% Tenor 10 years, for Category I, II, III and IV – Monthly Option |
| S7 | 10.75% Tenor 10 years, for Category I, II, III and IV – Annual Option |
