Independence day Quote

“It has been an unprecedented medical crisis, the number of COVID-19 cases recorded worldwide has passed the 18 million mark and understandably, there is great amount of fear and anxiety. Yet, we must be hopeful, as scientists are working against the clock at an indescribable pace, to develop a vaccine. India is at the forefront of this effort with several companies having made excellent progress and I am optimistic that within a year, we will have a vaccine.

However, an equally great concern is that non-communicable diseases (NCDs) which include cardiovascular diseases, cancers, diabetes, respiratory ailments etc.  pose a bigger threat to the future of humanity and account for close to 80 per cent of global mortality.  Bearing this hard reality in mind, it is very important that patients battling chronic diseases do not neglect their health any longer on account of the pandemic and seek timely medical attention. Further, a delay could also lead to emergencies on account of uncontrolled progression of NCDs, choking the medical ecosystem in our country.

Overcoming this crisis and a resolute determination to be free from NCDs must be our collective goal on Independence Day 2020. Just as we are combatting COVID-19, similarly, a war against NCDs must be an equally important imperative for India as the prevalence of these diseases is becoming younger.  

According to the World Economic Forum, by 2030, the global economic impact would be over $30 trillion and India’s share in it could be around $ 3.8 trillion, unless remedial action is taken up rightaway to mitigate the loss of lives due to NCDs. A silent crisis for the country, NCDs can lead to serious socioeconomic consequences and an adverse impact on the GDP.

While 2020 will be known for the crushing impact of the pandemic, yet the second decade of the 21^st century ushered in game changing advances in healthcare fueled by Artificial Intelligence, Automation, Robotics, 3D Printing, and many such developments, which will all be transformational in the journey of healing. In addition, healthcare in post pandemic world will be defined by enhanced accessibility and convenience, as care models will move along with the individual and be accessible, whenever and wherever they need it. I look forward to the future of healthcare, which would be free of boundaries of any kind.”

Shriram Housing Finance Limited raises

Shriram Housing Finance Limited raises Rs.300 cr from Banks

 ·        Raises over 700 cr in the current calendar year·        The Company reported a 25% growth in AUM

Shriram Housing Finance Limited (SHFL) amidst the current challenging circumstances prevailing in the financial sector, has raised long term debts of around Rs.300 crore from the banking sector. The company raised Rs.250 cr long term Loan from a PSU Bank at 8.50%, the loan being repayable in 5 years.  The company has also raised Rs.40 cr NCD under TLTRO 2 at an annualised coupon of 8.55%. With this, the company has raised over 700 cr in the current calendar year.

In the recently declared Financial Results for the year 2020 by Shriram Housing Finance, the company reported a 25% growth in its AUM to Rs.2305 crore by clocking disbursal of Rs.1127 crore for the year. The company has reported a jump of 160% in PBT from 25 crore in FY2019 to Rs.65 crore in FY2020. 

The PAT grew from 16.6 crore to 46.6 crore in FY2020 registering a growth of 179%. The net worth of the company thereby stood at Rs.513 crore. The company results have also shown a significant improvement in portfolio quality. Robust credit underwriting and collection efficiency has helped to build a superior loan book resulting in GNPA at 5 year low of 2.4% and NNPA at 2.1%. SHFL has also made an additional provision of Rs.10 crore for Covid related impact on its portfolio.

Mr. Ravi Subramanian, Managing Director & CEO, Shriram Housing Finance said, “We are happy that the market has shown confidence in us even during such challenging times. Despite the challenges, SHFL has always focused on getting new business without compromising on the portfolio quality and we look forward to work for the benefit of the society and our customers keeping in mind the current pandemic situation. Besides the debt raised so far, we also have NCDs in the pipeline. This only strengthens our belief that there is sufficient liquidity available for well managed companies.” 

Shriram Housing Finance Limited with over 65 branches across the country plans to tap the potent opportunity for cross-selling home loans. The company plans to leverage the Groups distribution strength (over 3500 branches across Shriram Transport & Shriram City Union Finance) to cater to the needs of the exclusive set of group customers.

L&T Finance Limited announces Tranche

L&T Finance Limited announces Tranche I of Public Issue of Secured Redeemable Non-Convertible Debentures (Secured NCDs)

·               Secured NCDs of a face value of Rs.1,000 each

·               The Tranche I Issue includes a Base Issue Size for an amount of Rs. 500 crore (“Base Issue Size”) with an option to retain oversubscription upto Rs. 1,000 crore aggregating up to Rs.1,500 crore (“Tranche I Issue”)

·               The Tranche I Issue is rated as CRISIL AAA / Stable (pronounced as CRISIL triple A with Stable outlook), CARE AAA / Stable (pronounced as CARE triple A with Stable Outlook), IND AAA / Stable (pronounced as IND triple A with Stable outlook).

·               The Tranche I Issue offers effective annualized yield up to 8.64% p.a. on redemption^#

·               The Tranche I Issue opens on December 16, 2019 and closes on December 30, 2019*

·               The Secured NCDs will be listed on BSE and NSE (collectively, “Stock Exchanges”). NSE shall be the Designated Stock Exchange.

 L&T Finance Limited (a wholly owned subsidiary of L&T Finance Holdings Limited) is coming out with a public issue of Secured Redeemable Non-Convertible Debentures (“Secured NCDs”) of the face value of Rs. 1,000 each.

The Tranche I Issue aggregates to Rs. 500 crore, with an option to retain over-subscription upto Rs. 1,000 crore, aggregating upto a total of Rs. 1,500 crore. The Tranche I Issue offers various options for subscription with coupon rates ranging from 8.25% - 8.65% (per annum). The Tranche I Issue opens on December 16, 2019 and closes on December 30, 2019, with an option of early closure or extension.

The Secured NCDs proposed to be issued under this Issue have been rated ‘CRISIL AAA (stable) (pronounced as CRISIL triple A with Stable outlook)’, CARE AAA / Stable (pronounced as CARE triple A with Stable outlook) and IND AAA / Stable (pronounced as IND triple A with Stable outlook). The rating of Secured NCDs by CRISIL, CARE and India Ratings indicate that instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk.

These Secured NCDs, bearing a fixed rate of interest, are being offered under six different series. There are four categories of investors defined as: Category I (Institutional Investors) Category II (Non- Institutional Investors), Category III (High Net-worth Individuals) and Category IV (Retail Individual Investors).

The terms of each series of NCDs, offered under Tranche I Issue are set out below:

**Our Company would allot the Series IV NCDs, as specified in the Tranche I Prospectus to all valid Applications, wherein the Applicants have not indicated their choice of the relevant Series of NCDs.

Net proceeds of the Issue will be utilized for the purpose of onward lending, financing, refinancing the existing indebtedness of the Company (payment of the interest and/or repayment /prepayment of principal of borrowings) (up to 75%) - and the rest (up to 25%) for general corporate purpose.

The Secured NCDs offered through the Tranche I Prospectus are proposed to be listed on the BSE & NSE. NSE shall be the Designated Stock Exchange for the Tranche I Issue.

The lead managers to the Issue are Edelweiss Financial Services Limited, A. K. Capital Services Limited, Trust Investment Advisors Private Limited and JM Financial Limited.

IDBI Trusteeship Services Limited is the Debenture Trustee and Link Intime India Private Limited is the registrar to the issue.