Opening Date
19 Oct 2023
Closing Date
30 Oct 2023
Yield
Upto 9.34%
Tenure
Upto 10 Years
Ongoing IPO
Opening Date
19 Oct 2023
Closing Date
30 Oct 2023
Time to close
Yield
Upto 9.34%
Tenure
Upto 10 Years
| Issue Size (Including Green Shoe Option) | 1,000 | ||
| Face Value | 1000 | ||
| Coupon | Upto 9.35% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 3 Nov 2023 | ||
| Listing Date (Tentative) | 7 Nov 2023 | ||
| Exchange Bid Time (24 Hours) | 10:00 to 17:00 | ||
Documents attached
*Allotment on first come first serve basis
Series | I | II | III | IV |
Nature Of NCDs | Secured Redeemable Non-Convertible Debentures | |||
Who Can Apply | Everyone | |||
Tenure | 2 Years | 3 Years | 5 Years | 10 Years |
Frequency of Interest payment | YEARLY | YEARLY | YEARLY | YEARLY |
Best Coupon Rate (% p.a.) for: | ||||
Category 1 | 9.00 % | 9.05 % | 9.20 % | 9.35 % |
Category 2 | 9.00 % | 9.05 % | 9.20 % | 9.35 % |
Category 3 | 9.00 % | 9.05 % | 9.20 % | 9.35 % |
Category 4 | 9.00 % | 9.05 % | 9.20 % | 9.35 % |
Effective Yield (% p.a.) for: | ||||
Category 1 | 9.00 % | 9.05 % | 9.19 % | 9.34 % |
Category 2 | 9.00 % | 9.05 % | 9.19 % | 9.34 % |
Category 3 | 9.00 % | 9.05 % | 9.19 % | 9.34 % |
Category 4 | 9.00 % | 9.05 % | 9.19 % | 9.34 % |
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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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Rs 64,867 Crs
6.60%
2.4%
Piramal Enterprises Limited is a non banking financial company which got registered with the Reserve Bank of India. it has a presence in retail lending wholesale lending, and fund-based platforms, primarily through standalone operations and its wholly owned subsidiary Piramal capital and housing finance limited. The company consolidated operations are backed by a network of about 375 branches across 25 states and Union Territories.
PEL received its NBFC licence as a part of a planned corporate restructuring exercise, whereby the pharma business was demerged from PEL. Further, PHL Fininvest Private Limited a wholly owned subsidiary of PEL and the NBFC arm of the Group, was merged into PEL.
PEL forayed into the financial services sector with PCHFL, a housing finance company that provides both wholesale and retail finance across segments PCHFL was earlier chosen as the successful resolution applicant by DHFL Committee of Creditors for the resolution of DHFL, an HFC catering to the low and middle income borrower segment. As per the resolution plan approved by the National Company Law Tribunal DHFLs existing liabilities were discharged by the erstwhile PCHFL and a consideration of Rs. 34,250 crore was paid to DHFL creditors. The erstwhile PCHFL was reverse merged with DHFL, with effect from September 30, 2021, and the amalgamated entity was rechristened Piramal Capital & Housing Finance Limited.
Comfortable capitalisation
PELs consolidated networth stood at Rs. 31,241 crore with a gearing of 1.5 times and a total capital adequacy ratio of 31 Percent as of December 31,$2022. Of this, Rs. 22,153 crore is deployed to the lending business while the balance is deployed towards other assets like alternatives insurance & others and Shriram investments. The companies consolidated capitalisation trajectory has been supported by fund raising in recent years, besides the fair value gains on investments in Shriram Group and the reversal of the deferred tax liability related to the DHFL transaction. During FY2020 and 2021 PEL raised Rs. 18,173 crore of equity funds through various avenues, part of which was allocated to the financial services business.
Established position in real estate lending and experienced management team
PEL has an established position in real estate lending and draws domain experience, given the Group experience in real estate based private equity investments, advisory services, and the development space. Further, given its extensive experience in the real estate lending segment, the company leverages the large network of developers with relationships built over a period of time. PEL also has an experienced management team. While the company experience in retail lending remains limited, it has hired seasoned professionals to build its franchise in this segment. PEL has also engaged external consultants for framing its credit policies and credit appraisal systems, expansion strategy and operational policies
Portfolio vulnerability, given sizeable exposure to real estate segment and limited seasoning of retail book
PELs consolidated AUM comprised retail and wholesale loans. as of December 31, 2022. While the share of wholesale loans has reduced consistently over the past few years, the same remained high at Rs. 36,971 crore as of December 31, 2022. Further 28 percent of the wholesale loan book was classified under stage 2 and 3 as of December 31, 2022. While the company has provisions on the book, these exposures remain vulnerable to slippages.
Ability to raise funds at competitive rates from diverse sources
PEL raised 6000 Crs long term debt FY2022 and Rs. 5,308 crore in 9M FY2023, following the Rs. 13,500 crore long term debt raised in FY2020 and Rs. 20,000 crore in FY2021 for its financial services$business. While the merger with DHFL has led to greater diversification in the asset profile, PEL also witnessed elongation in the weighted average tenor of borrowings, an increase in the share of fixed rate borrowings and some moderation in the cost of funds$since March 2020.
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