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Magma Fincorp Limited is a non-banking f inance company, incorporated on December 18, 1978 as ARM Group Enterprises Private Limited.

MFL was converted into a public limited company in 1980 and the name of the Company was subsequently changed to Magma Leasing Limited in 1993. In 2008, the company name was changed to Magma Fincorp Limited. Company commenced its financing business in 1989, and has almost three decades of experience in such business.

Company is engaged in providing asset backed financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles, mortgage financing, financing to SMEs and distribution of general insurance products

MFL’s customers include first-time buyers of vehicles, self-employed and non-professional individuals, small and medium entrepreneurs and customers with informal income and limited banking and credit history. As of December 31, 2018, MFL had around12.00 lakh active customers, of which approximately 4 lakh active customers were in their financing businesses and 8 lakh active customers were in their insurance business .As of December 31, 2018, MFLhad a presence across21States in India through 309 branches.

Magma Fincorp Limited NCD - Issue Details:

Issuer Magma Fincorp Limited (View Report)
Issue Type Secured Redeemable Non-Convertible Debentures
Issue Period Issue Opens: Monday, April 08, 2019
Issue Closes: Wednesday, May 08, 2019
Coupon Rate 10.75% p.a *
Issue Size Base Issue of Rs.200 Crores with an option to retain oversubscription up to Rs.300 Crores aggregating upto Tranche I Issue Size of Rs.500 Crores
Face Value Rs.1,000 per NCD
Minimum Application Size Rs.10,000 (10 NCDs) and in multiple of Rs.1,000 (1 NCD) thereafter across all Series
Credit Rating “BWRAA (Outlook: Stable)” by Brickworks and “ACUITEAA/Stable” by Acuite
Mode of Allotment & Trading Traded compulsorily in Dematerialised Form
QIB 20% of issue size
Corporate 20% of issue size
HNI 30% of issue size
Retail Individual 30% of issue size
Listing BSE & NSE
Depositories NSDL & CDSL
Registrar Karvy Fintech Private Limited (formerly known as Karvy Computershare Pvt Limited)
Book Running Lead Managers A. K. Capital Services Limited and Edelweiss Financial Services Limited
* Highest yield


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