From L-R
1. Mr Deepen Doshi – Executive Director- Investment Grade Group, JM Financial
2. Mr Amit Gupta, Group CFO, Arka Fincap Limited
3. Mr Vimal Bhandari, Executive Vice Chairman and CEO, Arka Fincap Limited
4. Mr Rahul Kirloskar, Non Executive, Non Independent Director, Kirloskar Oil Engines Limited
5. Mr Mahesh Chabbaria, Non-Executive, Non Independent Director, Arka Fincap Limited
6. Mr Ravi Lath, Head Channel Partner, Nuvama Wealth Management
Mumbai 5th December 2023: Arka Fincap Limited an NBFC – ML is registered with the RBI (A subsidary of Kirloskar Oil Engines Limited), has announced its maiden public issue of secured, rated, listed, redeemable non-convertible debentures of face value of ₹ 1,000 each (“NCDs” or “Debentures”) for an amount of ₹ 15,000 lakh (“Base Issue Size”) with an option to retain oversubscription up to an amount of ₹ 15,000 lakh (“Green Shoe Option”) amounting to ₹ 30,000 lakh (“Tranche I Issue Limit”) (“Tranche I Issue”).
Key Higlights:-
- Effective yield of up to 9.99% per annum for Series VI
- Credit Rating: CRISIL AA-/Positive by CRISIL Ratings Limited
- Tranche I Issue opens on December 7, 2023 and closes on December 20, 2023 with an option for early closure as decided by the Board of Directors or Asset Liability Committee of the Company and subject to relevant approvals
- NCDs will be traded in dematerialised form
- Allotment on first cum first serve basis. However, from the date of oversubscription and thereafter, the allotments will be made to the applicants on proportionate basis.
- The loan book of Arka Fincap in March 2021 was of 112,433 lakhs, the company has grown to 403,319 lakhs in September 2023. The significant part of growth has been into MSME lending in Devember 2020, which now forms 36.19% of the loan book.
- The financial performance in FY23, with revenue of 37,066 lakhs and a net profit of 6,136 lakhs, is a testament to the commitment to financial prudence. The GNPAs at 0.19% and NNPAs at 0.05% as of September 2023, it reflects our focus on maintaining a healthy portfolio
