Description

BSE announces the listing of 10 series of secured, redeemable non-convertible debentures (NCDs) issued by KLM Axiva Finvest Limited with varying tenures and coupon rates ranging from 9.50% to 11.00% per annum.

Summary

BSE has listed 10 series of Secured Redeemable Non-Convertible Debentures (NCDs) issued by KLM Axiva Finvest Limited under NCD XIII issuance. The debentures have a face value and issue price of Rs. 1,000 per NCD, with varying interest payment frequencies (monthly, annually, and cumulative) and maturity dates ranging from January 2027 to July 2032. Total issuance comprises 10,00,000 NCDs across all series with coupon rates between 9.50% and 11.00% per annum.

Key Points

  • Total of 10 series of secured NCDs listed with scrip codes ranging from 940799 to 940817
  • Face value and issue price: Rs. 1,000 per NCD across all series
  • Coupon rates range from 9.50% to 11.00% per annum
  • Effective yields range from 9.92% to 11.30% per annum
  • Date of allotment: December 16, 2025
  • Credit rating: ACUITE BBB/Stable
  • Market lot: One NCD
  • No put/call options available
  • Interest payment frequencies vary: Monthly (Series I, III, IV, VI, VIII), Annually (Series V, VII, IX), and Cumulative (Series II, X)

Series Details

Series I (Scrip Code: 940799, ISIN: INE01I507AY8)

  • Coupon: 9.50% | Effective Yield: 9.92%
  • Frequency: Monthly | Securities: 2,08,674
  • Maturity: January 19, 2027 | First Interest: February 2, 2026

Series II (Scrip Code: 940801, ISIN: INE01I507AZ5)

  • Coupon: N/A | Effective Yield: 9.96%
  • Frequency: Cumulative | Securities: 2,14,658
  • Maturity: April 16, 2027 | Redemption Amount: Rs. 1,135

Series III (Scrip Code: 940803, ISIN: INE01I507BA6)

  • Coupon: 9.85% | Effective Yield: 10.31%
  • Frequency: Monthly | Securities: 36,995
  • Maturity: June 16, 2027 | First Interest: February 2, 2026

Series IV (Scrip Code: 940805, ISIN: INE01I507BB4)

  • Coupon: 10.00% | Effective Yield: 10.47%
  • Frequency: Monthly | Securities: 1,36,080
  • Maturity: December 16, 2027 | First Interest: February 2, 2026

Series V (Scrip Code: 940807, ISIN: INE01I507BC2)

  • Coupon: 10.25% | Effective Yield: 10.25%
  • Frequency: Annually | Securities: 94,331
  • Maturity: December 16, 2027 | First Interest: December 16, 2026

Series VI (Scrip Code: 940809, ISIN: INE01I507BD0)

  • Coupon: 10.25% | Effective Yield: 10.75%
  • Frequency: Monthly | Securities: 90,655
  • Maturity: December 16, 2028 | First Interest: February 2, 2026

Series VII (Scrip Code: 940811, ISIN: INE01I507BE8)

  • Coupon: 10.50% | Effective Yield: 10.50%
  • Frequency: Annually | Securities: 41,033
  • Maturity: December 16, 2028 | First Interest: December 16, 2026

Series VIII (Scrip Code: 940813, ISIN: INE01I507BF5)

  • Coupon: 10.75% | Effective Yield: 11.30%
  • Frequency: Monthly | Securities: 94,462
  • Maturity: December 16, 2030 | First Interest: February 2, 2026

Series IX (Scrip Code: 940815, ISIN: INE01I507BG3)

  • Coupon: 11.00% | Effective Yield: 11.00%
  • Frequency: Annually | Securities: 24,211
  • Maturity: December 16, 2030 | First Interest: December 16, 2026

Series X (Scrip Code: 940817, ISIN: INE01I507AX0)

  • Coupon: N/A | Effective Yield: 11.10%
  • Frequency: Cumulative | Securities: 58,901
  • Maturity: July 16, 2032 | Redemption Amount: Rs. 2,000

Regulatory Changes

No regulatory changes announced. This is a standard listing notification.

Compliance Requirements

  • KLM Axiva Finvest Limited must comply with standard BSE listing requirements for debt securities
  • Regular interest payments to be made as per specified frequencies for each series
  • Debenture holders can trade these securities on BSE platform with market lot of one NCD
  • Issuer must maintain ACUITE BBB/Stable credit rating requirements

Important Dates

  • Allotment Date: December 16, 2025
  • First Interest Payment Dates:
    • February 2, 2026 (Series I, III, IV, VI, VIII - Monthly payment series)
    • December 16, 2026 (Series V, VII, IX - Annual payment series)
    • April 16, 2027 (Series II - Cumulative)
    • July 16, 2032 (Series X - Cumulative)
  • Maturity Dates:
    • January 19, 2027 (Series I)
    • April 16, 2027 (Series II)
    • June 16, 2027 (Series III)
    • December 16, 2027 (Series IV, V)
    • December 16, 2028 (Series VI, VII)
    • December 16, 2030 (Series VIII, IX)
    • July 16, 2032 (Series X)

Impact Assessment

Market Impact: Low - This is a routine listing of corporate debt securities. The listing provides fixed-income investment opportunities for debt investors seeking exposure to non-banking financial company (NBFC) paper with BBB rating.

Investor Impact: Medium for debt investors - The NCDs offer competitive yields (9.92% to 11.30%) with investment-grade credit rating, providing options for investors with different maturity preferences (2-7 years) and cash flow requirements (monthly, annual, or cumulative interest payments).

Liquidity: The listing on BSE provides a secondary market platform for NCD holders to trade these securities, though actual liquidity may vary based on trading volumes.

Risk Considerations: Credit risk rated at BBB/Stable level; no put/call options available limiting early exit flexibility; interest rate risk varies by maturity tenure.

Impact Justification

Routine listing of corporate debt securities with limited market-wide impact, relevant primarily to debt investors and the issuing company