• By Elite Wealth
  • / August 11, 2023
  • / NCD

Vivriti Capital Limited NCD Company Profile:

Vivriti Group is a financial services company founded in 2017 and headquartered in Chennai, India. The group provides debt financing to mid-market enterprises across the country. Vivriti Group consists of two companies:

  • Vivriti Capital is a non-deposit taking NBFC that provides debt financing to mid-market enterprises. Vivriti Capital is a technology-enabled lender that uses data and analytics to make lending decisions.
  • Vivriti Asset Management is a fixed income fund manager that offers alternate investment funds to institutional investors. Vivriti Asset Management invests in debt securities issued by mid-market enterprises.

Vivriti Group has a combined AUM of ~ US$ 730 mn. The group manages a diverse portfolio of over 250+ mid-market enterprises across various sectors. Vivriti Group is changing the landscape of mid-market lending by providing access to debt financing to mid-market enterprises that would otherwise not be able to get financing from traditional banks.

Vivriti Capital Limited is coming out with a public issue of Secured, Rated, Listed Redeemable Non-Convertible Debentures of the face value of Rs 1,000 each, (“NCDs”), for an amount up to ₹250 crores (“Base Issue Size”) a green shoe option of ₹250 crores aggregating up to ₹500 crores. The Issue offers yields ranging from 9.98% to 10.49% depending upon the Category of Investor and the Series applied for. The Issue shall be open from Friday, 18th August 2023, to Thursday, 31st August 2023, with an option to close earlier and/or extend up to a period as may be determined by the Securities Issuance Committee.

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    Vivriti Capital Limited NCD Details:

    Issue opens: Friday, 18th August 2023
    Issue closes: Thursday, 31st August 2023
    Allotment: First Come First Serve Basis
    Face Value: Rs.1,000 per NCD
    Nature of Instrument: Secured, Rated, Listed Redeemable Non-Convertible Debentures
    Minimum Application: ₹ 10,000/- (10 NCDs) and in multiples of ₹ 1,000/-(1 NCD) thereafter
    Credit Rating “A (Stable)” by ICRA and “A; +Ve” by CARE
    Issue Size Base Issue size of ₹ 250 Crore with a Green Shoe option of up to ₹ 250 Crore aggregating up to ₹ 500 Crore being the Issue size.
    Listing: Proposed on BSE
    Registrar: Integrated Registry Management Services Pvt Ltd
    Category I – Institutional (“QIB”) II – Non-Institutional (“Corporates”) III – High Net worth

    Individual (“HNI”)

    (Amount aggregating to

    above ₹ 10 lakh)

    IV – Retail Individual (“Retail”) (Amount aggregating up to and including ₹ 10 lakh)
    Category Allocation of the Overall Issue Size 20% 20% 30% 30%
    Amount in Crs. 100 cr. 100 cr. 150 cr. 150 cr.

                                                     Vivriti Capital Limited NCD

    Application form

    Vivriti Capital Limited NCD Specific Terms of the Prospectus:

    The terms of the NCDs offered under the Issue are as follows:

    Series I II III IV V
    Frequency of Interest Payment Monthly Annual Quarterly Monthly Annual
    Tenor 18 Months 18 Months 24 Months 24 Months 24 Months
    Coupon Rate (% p.a.) for :
    For all Categories 9.57% 10.00% 9.65% 10.03% 10.50%
    Effective Yield (% p.a.) for :
    For all Categories 9.98% 10.06% 9.98% 10.49% 10.48%
    Amount (₹ / NCD) on Maturity for * :
    For all Categories ₹ 1,000 ₹ 1,000 Staggered Redemption in 8 Quarterly payments of ₹ 125 each, starting from 1st quarter until maturity ₹ 1,000 ₹ 1,000

    *- Subject to applicable tax deducted at source, if any.

    The company shall allocate and allot Series IV NCDs (Monthly option) wherein the Applicants have not indicated the choice of the relevant NCD Series