Motilal Oswal Financial Services Limited has issued by way of Private Placement 2500 Principal Protected Secured Redeemable Non-Convertible Debentures of the face value of Rs. 100,000 each Linked to S&P CNX NIFTY INDEX, with marketable lot of one, for cash aggregating Rs 25 Crore .
The Salient features and Valuation is given below: |
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Issuer |
Motilal Oswal Financial Services Limited |
Valuation of the Debentures (by ICRA) |
Please click on the Link below:
http://www.icra.in/mld-valuations.aspx |
Underlying Index |
S&P CNX Nifty |
Issue Amount |
Rs. 250,000,000 |
No of Debentures, Issue Price and Face Value |
2500 Debentures having a Face Value of Rs. 100,000 each will be issued for cash at par. |
Tenor |
3years and 3 months & 20 days from the Date of Allotment. |
Coupon rate |
Coupon rate will be reference Index linked return over the tenure of debenture.
Reference Index Linked Return =
Debenture Face Value* Reference Index Return Factor
Coupon shall be payable on Redemption/Maturity Date |
Listing |
At WDM Segment of BSE |
Debenture Trustee |
IDBI Trusteeship Services Limited |
Registrar & Transfer Agent |
Link Intime India Private Limited |
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Security |
The Debenture repayment, coupon thereon, Trustees’ remuneration and all other monies relating thereto shall be secured by way of loan receivables. The value of loan receivables is determined based on the net exposure outstanding and be reviewed on an annual basis with a minimum asset cover ratio of 1.5 times at all times during the tenure of the NCDs, to be decided in consultation with the Trustees. The above mentioned security will be created in favour of the Trustees within 3 months from the issue closure of the Debentures or such extended period as may be permissible. The actual form, mode and method of security creation shall be decided in mutual consultation with the Trustees. The Company shall at all times in consultation of the trustees maintain a minimum security cover of 1.5. times of the value of all the outstanding Debentures proposed to be issued by the company.
The Security will be created by the Company as aforesaid in favour of the Trustees on such of the assets for which the Company obtains, the requisite consents and permissions applicable under law or in accordance with conditions of holding of such assets for creating the above mentioned charge.
In case of delay in execution of Trust Deed and Charge documents, the Company will refund the subscription forthwith with agreed rate of interest or will pay penal interest of atleast 2% p.a over the coupon rate till these conditions are complied with at the option of the investor. |
Issue Opening Date |
10th December, 2012 |
Issue Closing Date |
10th December, 2012 |
Pay in date |
10th December, 2012 |
Date of Allotment |
11th December, 2012
In case of delay in listing of the debt securities beyond 20 days from the date of allotment, the company will pay penal interest of atleast 1% over the coupon rate from the expiry of 30 days from the date of allotment till the listing of such debt securities to the investor. |
Put Option |
Put Option to investor |
Scheduled Valuation Date |
31st December, 2015, subject to Modified Following Business Day Convention as defined by ISDA Definitions 2000. Or any date within 30 days of exercise of Put Option Effecting Early Redemption |
Redemption / Maturity Date |
31st March, 2016. Put Option can be exercised after 18 months from date of allotment. |
Trading |
Dematerialized mode |
ISIN |
INE338I07016 |
Start Reference Index Value |
Closing Value of S&P CNX Nifty on the date of allotment |
Credit Rating (by ICRA) |
PP-MLD[ICRA]AA- |
Reference Index Linked Return payable on Redemption Date and paid with the Redemption Amount:
Redemption Amount: |
The Reference Index Linked Return shall be the only coupon due which shall be payable only on redemption date and shall be calculated as per the following:
Reference Index Linked Return shall be =
Debenture Face Value* Reference Index Return Factor
Reference Index Return Factor =
Max [0%, 115%* {(Observation Value of the Reference Index / Start Reference Index Value) – 100%}]
115% is the participation rate
Observation Value of the Reference Index shall Mean Closing Value of CNX Nifty on scheduled valuation date for redemption |
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