Market Linked Debentures (MLDs) are being sold to individuals and gaining more credence recently.
The idea of a market-linked debenture is to have a “DEBENTURE” that gives you income linked to a DEBT MARKET index.
No TDS on interest of MLD since MLDs are listed on BSE
10% Per Annum
by Acuité Ratings & Research Limited
Opening and Closing Date
Mode of Issue
Minimum Application Value
29th September 2022 to 3rd October 2022
20 Months from the deemed date of allotment
Rs.10 Lakhs per Debentures
Rs.50 Crores + Rs.50 Crores Greenshoe Option
Private placement in dematerialised form
1 MLDs and multiples of 1 MLDs thereafter
Bombay Stock Exchange (BSE)
MSFL – Principal Protected Non Convertible Market Linked Debenture – 20 MONTHS, 2022-23.
Listed, Unsecured, Redeemable, Market Linked Debentures.
The MLDs will be issued in DEMAT mode only and it is on Private Placement Basis.
Total issue size is Rs. 100.00 Crores. This will be issued in One tranche to a maximum of 200 investors in each Financial year.
The Face Value and Issue Price per MLD is Rs. 10.00 Lacs.
1 MLD (i.e. Rs. 10.00 lacs) and then an investor can apply in multiples of 1 MLD of Rs. 10.00 Lacs each.
10.50% p.a, Linked to 10 years GSEC. Payment will be made on completion of 20 months.
The MLDs will be issued for 20 months from the date of allotment.
Coupon Rate Plus Additional interest of at least @ 2% p.a. on the outstanding Principal amount.
No TDS on interest of MLD will be deducted by the issuer since MLDs are listed and in demat form. However, the interest income on MLDs will be taxable in the hands of investors.
It is listed on the BSE Exchange and investors can exit at any point of time.
Yes the debentures can be transferred off market by following Depository Participant’s processes.
Depending on the banks’ policies, generally, the banks allow Overdraft facilities against MLDs.
Following are eligible categories;
1. Companies, Body Corporate, Financial Institutions, NBFCs, Statutory Corporations;
2. Commercial Banks and Regional Rural Banks;
3. Provident funds/ Superannuation funds or gratuity funds, private trusts, as may be permitted by respective rules and guidelines of such funds/ trusts;
4. Registered Society;
5. Partnership firms & LLPs;
6. Individuals and HUFs;
7. High Net worth Individuals;
8. Insurance Companies;
9. Mutual Funds;
10. Portfolio Manager registered with SEBI;
11. Any other investor permitted to invest in debentures of Indian body corporate
NOTE: No Identified Person shall be entitled to renounce his right to subscribe to the MLDs to any person. Only the person(s) to whom this Shelf Placement Memorandum and Tranche Placement Memorandum is circulated by the Company shall be eligible to apply for MLDs (“Identified Persons”).
IVR PP MLD A-/stable by Acute Rating Agency.
To fund the algo based arbitrage/jobbing business activities of the Company.
Yes. MITCON Trusteeship Services Limited is appointed as a debenture trustee.
No, the MLD holders do not have voting rights.
For more detail contact:
Mr. Mallikesh A.Vaishnav
Mobile : +919427266606/+919512046381
Mr. Krushnadas Gondaliya
Mobile : +919879016667
Ms. Madhuri Dholakiya
Mobile : +918780212022
Email : email@example.com