Gold loan provider Kosamattam Finance has filed a draft red herring prospectus (DRHP) with SEBI for its public issue of secured, redeemable, non-convertible debentures of face value of Rs 1,000 each.
Gold loan provider Kosamattam Finance has filed a draft red herring prospectus (DRHP) with SEBI for its public issue of secured, redeemable, non-convertible debentures of face value of Rs 1,000 each. It plans to raise upto Rs 75 crore, with an option to retain over-subscription upto Rs 25 crore aggregating to a total of upto Rs 100 crore.
The company is a systemically important non deposit taking NBFC primarily engaged in the gold loan business, lending money against the pledge of household Jewellery in the state of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Delhi and in the Union Territory of Puducherry.
The NCDs offered through this draft prospectus are proposed to be listed on the BSE
The funds raised through this issue will be utilised for various financing activities of the company but not limiting to lending and investments, repayment of existing loans and towards its business operations including for capital expenditure and working capital requirements and general corporate purposes after meeting the expenditures of and related to the issue and subject to applicable statutory/regulatory requirements.
Vivro Financial Services Private Limited is the lead manager to the issue. Karvy Computershare Private Limited is a registrar to the issue.
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