Opening Date
23 Apr 2024
Closing Date
3 May 2024
Yield
UPTO 9.70%
Tenure
UPTO 120 Months
Ongoing IPO
Opening Date
23 Apr 2024
Closing Date
3 May 2024
Time to close
Yield
UPTO 9.70%
Tenure
UPTO 120 Months
| Issue Size (Including Green Shoe Option) | 1,000 | ||
| Face Value | 1000 | ||
| Coupon | UPTO 9.70% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 9 May 2024 | ||
| Listing Date (Tentative) | 13 May 2024 | ||
| Exchange Bid Time (24 Hours) | 10:00 to 17:00 | ||
Documents attached
*Allotment on first come first serve basis
Series | I | II | III | IV | V | VI | VII | VIII |
Nature Of NCDs | Secured Redeemable Non-Convertible Debentures | |||||||
Who Can Apply | EVERYONE | |||||||
Tenure | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 120 Months | 120 Months |
Frequency of Interest payment | YEARLY | CUMULATIVE | YEARLY | CUMULATIVE | MONTHLY | YEARLY | MONTHLY | YEARLY |
Best Coupon Rate (% p.a.) for: | ||||||||
Category 1 | 8.85 % | -N.A.- | 9.10 % | -N.A.- | 8.97 % | 9.35 % | 9.30 % | 9.70 % |
Category 2 | 8.85 % | -N.A.- | 9.10 % | -N.A.- | 8.97 % | 9.35 % | 9.30 % | 9.70 % |
Category 3 | 8.85 % | -N.A.- | 9.10 % | -N.A.- | 8.97 % | 9.35 % | 9.30 % | 9.70 % |
Category 4 | 8.85 % | -N.A.- | 9.10 % | -N.A.- | 8.97 % | 9.35 % | 9.30 % | 9.70 % |
Effective Yield (% p.a.) for: | ||||||||
Category 1 | 8.85 % | 8.85 % | 9.10 % | 9.10 % | 9.35 % | 9.35 % | 9.70 % | 9.70 % |
Category 2 | 8.85 % | 8.85 % | 9.10 % | 9.10 % | 9.35 % | 9.35 % | 9.70 % | 9.70 % |
Category 3 | 8.85 % | 8.85 % | 9.10 % | 9.10 % | 9.35 % | 9.35 % | 9.70 % | 9.70 % |
Category 4 | 8.85 % | 8.85 % | 9.10 % | 9.10 % | 9.35 % | 9.35 % | 9.70 % | 9.70 % |
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BondsIndia is an online platform for fixed-income securities such as IPOs, bonds, 54EC bonds, and fixed deposits. With a cumulative pedigree of 50+ years in the bond market, we aim to democratize the market for common investors by stationing detailed insights, expert advice, and keeping a close watch on the market sentiment. BondsIndia brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive price before anyone else.
BondsIndia ditches the traditional ways of investing by offering a Technology based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose BondsIndia for its sleek interface, fail-safe communication and step-by-step guide to ensure a well-placed bid. You can apply for Edelweiss Financial Services Limited IPO on BondsIndia's website.
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Application process on BondsIndia platform is simple and seamless.
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Rs. 31,522 Crs
2.1
The Motilal Oswal group is one of India leading providers of capital market-related services, such as retail and institutional broking, asset and WM, LAS, margin financing, commodities broking, IB, and venture capital management. It commenced the housing finance business in May 2014.
Mr Motilal Oswal and Mr Raamdeo Agrawal along with their family members, and Motilal Oswal Family Trust-collectively owned 69.7% of MOFSLs equity shares as on March 31, 2023
The group reported a PAT of Rs 933 crore with a RoE of 15.6% during fiscal 2023 as against a PAT of Rs 1,311 crore with RoE of 25.8% during fiscal 2022.
Increasing diversification and scale up across financial services businesses, supporting stability in earnings profile
With gradual scale up of fee-based businesses-such as asset management company (AMC), wealth management (WM), private equity (PE), investment banking (IB) and fund-based business (housing finance) - revenue streams have become more diverse. The group is also focussing on scaling up its distribution business (financial products) through the broking and WM channels. Contribution from these businesses to overall revenue has increased in the last few fiscals. The groupu2019s asset management businesses - AMC, PE -- utilise the distribution network of WM for product distribution, resulting in business synergies and improved return on equity (RoE).
Healthy capitalisation
Capitalisation remains healthy, driven by healthy internal accruals. Absolute networth and consolidated gearing were Rs 8,270 crore and 1.52 times, respectively, as on December 31, 2023 (Rs 6,283 crore and 1.64 times, respectively, as on March 31, 2023). Further, as per the groupu2019s risk policy, the maximum gearing will be restricted at 3 times over the medium term. The housing finance business had net gearing of around 2.0 times on a standalone basis as on same date (2.2 times as on March 31, 2023).
Exposure to uncertainties inherent in capital-market-related businesses
A large part of the groupu2019s businesses, especially broking and IB, remains exposed to economic, political, and social factors that drive investor sentiments. Brokerage revenue depends on the level of trading activity in capital markets. Specifically, since March 2020, the stock markets have seen high retail participation and daily trading volume coinciding with the lockdown to contain the Covid-19 pandemic and people remaining at home. A significant proportion of client additions at the industry level are in the age bracket of 25-30 years without relevant trading experience. Upward movement of the key benchmark indices during this period has attracted retail investors to market trading. While this has benefited the broking industry, including the Motilal Oswal group, sustainability of the market momentum will need to be seen. Market position in the institutional broking segment has degrown by ~15% in fiscal 2023.
Limited track record in successfully scaling up the lending business
In fiscals 2018 and 2019, MOHFL faced asset quality challenges due to seasoning of the book, impact of external shocks on the economy, and lack of adequate collection and recovery processes and bandwidth within the company. Gross NPAs increased to 9.3% as on March 31, 2019 from 4.5% as on March 31, 2018 and 0.6% as on March 31, 2017.
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