The NCD offering will conclude on November 7, 2023. The minimum application amount for the offering is ₹10,000, with increments of ₹1,000 thereafter.
InCred Financial Services has initiated the offering of secured, redeemable, and non-convertible debentures (NCDs) to the public, commencing on October 25.
This NCD offering is set to conclude on November 7, 2023. The minimum application amount for this offering is ₹10,000, with subsequent increments of ₹1,000. The face value of each NCD is ₹1,000.
The initial size of this offering is ₹150 crore, with an option to accept oversubscriptions of up to ₹150 crore. Allocation will be made on a first-come, first-served basis.
The tenors available for these NCDs are 18, 24, and 36 months, with interest payments scheduled monthly, quarterly, or annually.
For the 18-month tenor with monthly interest payments (Series I), the annual coupon rate is 9.48 percent. For the 24-month tenor with quarterly interest payments (Series II), the annual coupon rate is 9.55 percent. For the 24-month tenor with monthly interest payments (Series III), the annual coupon rate is 9.66 percent.
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In the case of the 36-month tenor, the coupon rate is 10.30 percent for annual interest payments (Series IV) and 9.64 percent for monthly interest payments (Series V). The effective yield for Series V is 10.29 percent.
Investing in this bond IPO is straightforward and does not require the completion of a KYC process. Investors need to select their desired IPO series, provide their demat and payment information, and they will receive the bond IPO units in their demat account.
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