SMC Global Securities announced its first ever public offering of secured, rated, listed, redeemable, non-convertible debentures (NCDs) amounting to Rs. 75 crore (“Base Issue Size”), with a green shoe option of up to Rs. 75 Crore, aggregating to Rs. 150 crore. The issue opened for subscription from Friday, 19 July 2024 and will close on Thursday, 1 August 2024 (with an option of early closure). The face value and the Issue Price of each NCD is Rs. 1,000/-. With a minimum investment of Rs 10,000/- (10 NCDs), the offering caters to a wide range of investors. The NCDs are secured and will be listed on BSE Limited.
The NCDs carry credit ratings of ‘CRISIL A/Stable’ and ‘[ICRA] (A Stable)’. These ratings indicate a low credit risk and a high degree of safety for timely payment. The NCDs are being issued in six series, carrying fixed coupons and having a tenure of 24 months, 36 months and 60 months, with monthly, annual and cumulative interest options. Investors can earn effective yields ranging from 9.94% p.a. to 10.40% p.a.
The funds raised through this issuance will be primarily used to meet the working capital requirements. A portion of the proceeds will also be allocated for general corporate purposes. Subhash Chand Aggarwal, Mahesh C Gupta, Sushma Gupta and Damodar Krishan Aggarwal are the promoters of the Company.
M/s. Corporate Professionals Capital Private Limited, SEBI Registered Category I Merchant Banker is the Book Running Lead Manager to the issue.
| Category of Investors | NCD Allocation Ratio | NCD’s Offered by Category |
| Category I – Institutional Investors | 10% | 75,000 |
| Category II – Non-Institutional Investors | 25% | 1,87,500 |
| Category III – High Networth Individual Investors | 25% | 1,87,500 |
| Category IV – Retail Individual Investors | 40% | 3,00,000 |
| TOTAL | 100% | 7.50.000 |
Minimum Lot size – Ten (10) NCDs
Market Lot – One (1) NCD
Payment Frequency – Monthly, Annual and Cumulative
