Issue Details
Issue Open | Feb 10, 2023 - Feb 14, 2023 |
Issuer | Indore Municipal Corporation's |
Instrument | Secured Rated, Listed, Redeemable, Non-Convertible Debentures |
Issue Size | Base Issue size of ₹ 244 Crore with an option to retain oversubscription up to ₹ 244 Crore |
Issue Price | Face Value of INR 1,000/- per NCD consisting of 1 (one) STRPP A with face value of Rs. 250/-, 1 (one) STRPP B with face value of Rs. 250/- and 1 (one) STRPP C with face value of Rs. 250/-, 1 (one) STRPP C with face value of Rs. 250/-. |
Face Value | ₹ 1,000/- per NCD. Each NCD shall comprise of 4 STRPPs having different ISINs and face value: (a)1 STRPP A of face value of ₹ 250; (b)1 STRPP B of face value of ₹ 250; (c)1 STRPP C of face value of ₹ 250; (d)1 STRPP D of face value of ₹ 250 |
Minimum Application size | ₹ 10,000/- (10 NCDs comprising of 10 STRPP A, 10 STRPP B, 10 STRPP C,10 STRPP D) |
Listing At | BSE, NSE |
Credit Rating | “IND AA+/Stable’ & ‘CARE AA/Stable” by India Ratings & Research Pvt Ltd |
Tenor | STRPP A of an NCD – 3 years, STRPP B of an NCD – 5 years, STRPP C of an NCD – 7 years, STRPP D of an NCD – 9 years |
Payment Frequency | Half Yearly basis from the Deemed Date of Allotment |
Issuance and Trading | Compulsorily in dematerialized form. |
Basis of Allotment | First Come First Serve Basis |
Put/Call Option | There is no put/call option for the NCDs |
ISSUE STRUCTURE
ISSUE STRUCTURE | ||||
Option/Series | STRPP A | STRPP B | STRPP C | STRPP D |
Face Value / Issue Price of NCDs (₹ / NCDs) | 1 STRPP A of Face value of ₹ 250 | 1 STRPP B of Face value of ₹ 250 | 1 STRPP C of Face value of ₹ 250 | 1 STRPP C of Face value of ₹ 250 |
Minimum Applications | 10,000 (10 NCDs comprising of 10 STRPP A, 10 STRPP B, 10 STRPP C,10 STRPP D) | |||
STRPP with different ISIN# | STRPP A | STRPP B | STRPP C | STRPP D |
Tenor | 3 Years | 5 Years | 7 Years | 9 Years |
Coupon Rate (% p.a.) for All Categories | 8.25% p.a. payable Half Yearly | 8.25% p.a. payable Half Yearly | 8.25% p.a. payable Half Yearly | 8.25% p.a. payable Half Yearly |
Effective Yield (% p.a.) for All Categories | 8.41% | 8.41% | 8.41% | 8.41% |
Redemption Date/ Redemption Schedule | Staggered Redemption by Face Value for each respective STRPP as per "Principal Redemption Schedule and Redemption Amounts" | |||
Maturity/Redemption (From the Deemed Date of Allotment) | 3 Years | 5 Years | 7 Years | 9 Years |
*Of Deemed Date of Allotment | ||||
*Upon allotment, an investor will be allotted all 4 STRPPs of an NCD against the equivalent amount invested by such an investor, subject to the minimum application size. |
ALLOCATION RATIO
Category | Institutional | Non Institutional | High Net worth Individual | Retail Individual Investor | |
Category Allocation | 25% of the overall Issue Size | 25% of the overall Issue Size | 25% of the overall Issue Size | 25% of the overall Issue Size | |
Bucket Size assuming Issue size of ₹ 244 Cr | ₹ 61 Cr | ₹ 61 Cr | ₹ 61 Cr | ₹ 61 Cr |
Who can apply
Category I | Category II | Category III | Category IV | |
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APPLICATIONS CANNOT BE MADE BY
- Minors without a guardian name (A guardian may apply on behalf of a minor. However, the name of the guardian will need to be mentioned on the Application Form);
- Foreign nationals;
- Persons resident outside India;
- Foreign Institutional Investors;
- Non Resident Indians;
- Qualified Foreign Investors;
- Overseas Corporate Bodies;
- Foreign Venture Capital Funds;
- Persons ineligible to contract under applicable statutory/ regulatory requirements.
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