Hey there folks, we’ve got some exciting news coming your way! Aditya Birla Finance Limited (ABFL) is all set to rock the financial world with its debut public offering of non-convertible debentures (NCDs), aiming to raise a cool Rs 2,000 crore. Yep, you heard it right. They’re diving into the market with this big financial move.
ABFL’s Big Financial Play: The Lowdown
So, here’s the scoop. ABFL, which is a part of the Aditya Birla Capital Limited family, has just dropped the bombshell that they’re looking to use this cash influx in a strategic way. A whopping 75 percent of the funds generated from this offering will be earmarked for things like doling out loans, providing financial support, and paying off both the interest and principal on their existing debts. The remaining 25 percent? Well, they’ve got plans for that too, and it’s all about their general corporate goals.
NCDs on Offer: Let’s Dive Deeper
Now, let’s talk about what ABFL is offering in terms of these non-convertible debentures. They’re making it accessible to everyone on a first-come, first-served basis. Plus, you’ve got some options when it comes to tenor – choose from three, five, or ten years. But that’s not all, they’re sweetening the deal with interest payments that can roll in ‘monthly,’ ‘annually,’ or even on a ‘cumulative’ basis. And here’s the kicker – coupon rates will vary, going anywhere from 8 percent per annum to 8.10 percent per annum for the annual options. The effective yields? Well, they’re ranging from 7.99 percent per annum to 8.09 percent per annum across different series. So, you’ve got choices, my friends!
Leading the Charge: Meet the Managers
Now, who’s taking charge of this financial spectacle? Trust Investment Advisors Private Limited, AK Capital Services Limited, JM Financial Limited, and Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) are stepping up as the lead managers for this grand offering. Mark your calendars, folks – the subscription period kicks off on September 27 and wraps up on October 12, with the possibility of an early closing. You won’t want to miss this!
Aditya Birla : Top-Notch Ratings
Before we wrap this up, here’s something to seal the deal. ABFL wants you to know that these NCDs are not to be taken lightly. They’ve been stamped with an IND AAA Outlook Stable rating by India Ratings & Research Private Limited and an ICRA AAA (Stable) rating by ICRA Limited. That’s top-notch, folks!
So, there you have it, the latest scoop on Aditya Birla Finance Limited’s groundbreaking move in the financial world. With NCDs on the table and big plans ahead, it’s definitely something to keep an eye on. Stay tuned for more updates, and who knows, maybe you’ll be a part of this financial journey too!
