Piramal Enterprises Limited NCD Issue structure
|
Issue Open Date |
19-Oct-23 |
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|
Issue Close Date |
2-Nov-23 |
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|
Issue size |
Rs 10 billion |
| ||||
|
Face Value |
Rs 1000 |
| ||||
|
Min Application(number) |
10 |
| ||||
|
Credit Rating |
AA |
| ||||
|
Listing |
BSE & NSE |
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|
Nature |
Secured NCD |
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|
Series |
Coupon |
Yield |
Interest payment frequency |
Maturity(years) | ||
|
I |
9.00% |
9.00% |
Annual |
2 | ||
|
II |
9.05% |
9.05% |
Annual |
3 | ||
|
III |
9.20% |
9.19% |
Annual |
5 | ||
|
IV |
9.35% |
9.34% |
Annual |
10 | ||
Piramal Enterprises Limited (PEL) is the flagship company of the Piramal Group, one of the leading conglomerates in India. PEL is a non-deposit taking, RBI registered systemically important NBFC, operating in wholesale and retail lending segment. Their retail lending business is primarily conducted through the wholly owned subsidiary, Piramal Capital and Housing Finance Company Limited. The company has the presence in wholesale funding to real estate developers, corporates and SMEs.
Credit Rating-Piramal Enterprises Limited (PEL) has been rated as ICRA AA (Stable) and CARE AA (Stable).
Financials
|
Parameters(billion) |
FY22 |
FY23 |
Q1FY24 |
|
Net Interest Income |
34.44 |
41.76 |
8.91 |
|
PAT |
18.15 |
19.02 |
5.09 |
|
Net-worth |
333.3 |
310.59 |
308.44 |
|
AUM |
651.85 |
639.89 |
639.38 |
|
CRAR |
21.00% |
31.00% |
34.30% |
|
GNPA |
3.40% |
3.80% |
2.80% |
|
NNPA |
1.60% |
1.90% |
1.50% |
|
Leverage |
|
1.6 |
1.5 |
Credit Positives-
Ø Strong parentage
Ø Established market position
Ø Adequate capitalization
Ø Operating efficiency
Ø Low leverage
Credit Negatives-
Ø Risk related to real estate sector
Ø High operating expenses