Fundraising Initiative
Motilal Oswal Financial Services Ltd is set to consider raising up to Rs 1,000 crore via public issuance of Secured Redeemable Non-Convertible Debentures (NCDs). The proposed issue includes a base size of Rs 500 crore with a green shoe option of an additional Rs 500 crore.
Key Highlights
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The NCDs will be issued in eight series with tenures ranging from 24 to 120 months
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Interest payout options include annual, monthly, and maturity-based structures
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Effective annual yields range between 8.85% and 9.70%
Utilization Plan
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At least 75% of the proceeds will be used for working capital and debt repayment
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The remaining 25% will support general corporate purposes
Investor Confidence
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Rated CRISIL AA/Stable and IND AA/Stable, indicating high safety
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Listing planned on BSE and NSE, with allotment on a first-come-first-serve basis
Sources: Business Standard, Motilal Oswal Group