10.51 percent interest on NCD of JM Financial

stock market news

Mumbai- The NCD (Non Convertibable Debentures) of JM Financial Products Limited will open on April 22 and close on May 21. The company will give 10.51 percent annual interest to the investors in this NCD. However, once more subscription comes, the company can close it earlier. This NCD has given CRISIL and IKRA a stable rating of AA. However, before this, some companies are getting interest of 10.75 per cent in NCD and it has a good rating from those companies.
The company officials in Mumbai said that this NCD will be listed on the stock exchanges and its face value is Rs. 1,000. Through this, the company wants to raise Rs 200 crore, but if more subscription comes, then it can be increased to Rs 1,000 crore. That is, the company can take 800 crores more.
Company’s managing director Vishal Kampani told that the company has a diversification product and has a strong credit profile and a good track record of growth and profitability. Also, the profile of good lending reflects its growth and the quality and returns of the assets. The gross NPA of the company has been 0.3 percent till December 2018.
He said that our focus has always been on risk-adjusted profit and continuous growth. This NCD is the next part of our process. The minimum application for this NCD can be Rs 10,000. After that, its multiplier can be applied. There will be different interest rates on different series, which will be between 9.89 percent and 10.51 percent.