The seventh NCD issue, which had opened for subscription on 15th September and closed on 12th October, had a base issue size of Rs.100 crores that received an oversubscription of 187 crores through businesses, salaried employees, and pensioners.
KLM Axiva Finvest's Rs. 100-crore base issue of the seventh series of non-convertible debenture (NCD) issue has been oversubscribed, with the offer receiving more than --- applications. The businesses, salaried employees, and pensioners are the significant segments getting the advantage of this with 187% oversubscription resulting in Rs. 187 crores.
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Commenting on the successful oversubscription of the NCD issue, Mr. Manoj Ravi, the CEO and Founder of KLM Axiva Finvest says, "A huge thanks to all investors for subscribing to our seventh series of the NCD issue. We are grateful and overwhelmed to announce the 187% oversubscription of the base issue showcasing the demand & acceptance of KLM Axiva within the investable population."
He added, "KLM Axiva Finvest envisions expanding its boundaries PAN India and becoming the leading financial service provider in India. The amount sourced from this series of the issue will be used for the expansion of our Gold loan portfolio through 500 branches across Pan India."
KLM Axiva Finvest is currently providing ample opportunities for long-term strategic investments. For that matter, attracting to pool of investment, KLM Axiva plans to expand gold loans and microloans primarily to cater to the needs of the lower income segments. The Options for investments started from 400 days to 82 Months, with interest rates ranging from 8.75 % to 10.75%. It is a higher and more competitive interest rate relatively comparing other NCDs in the market. The company offers prompt, high-quality services to the target audience of small income groups. The well-organized implementation of mutually beneficial policies sets KLM apart from other NBFCs.
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