MOFS announces ₹1,000 crore Public Issue of Secured Redeemable NCDs

➢ Maiden Public Issue of Secured NCDs

➢ Effective Yield of up to 9.70 % per annum*

➢ Credit Rating: CRISIL AA/Stable by CRISIL Ratings Limited and IND AA/Stable by India Ratings

➢ Trading in dematerialized form only

➢ Allotment shall be made on the first come first serve basis.***

Mumbai, April 15, 2024: Motilal Oswal Financial Service Limited(“MOFSL”/ “Company” / “Issuer”), has announced the opening of the public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of the face value of ₹ 1,000 each for an amount up to ₹ 500crore (“Base Issue Size”), with a green shoe option of up to ₹ 500crore, cumulatively aggregating up to ₹ 1,000 crore (“Issue”).

There are eight series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and
120 months with annual, monthly and at maturity interest options. Effective annual yield for NCDs ranges from 8.85% p.a. to 9.70% p.a.

The Issue is scheduled to open on April 23, 2024, and close on May 7, 2024^** 

At least 75% of the funds raised through this Issue will be used for the purpose of meeting working capital requirement and repayment of existing liabilities and the balance amount would be utilized for generalcorporate purposes, subject to such utilization not exceeding 25% of theamount raised in the Issue, in compliance with the Securities andExchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021, as amended from time to time (“SEBI NCS Regulations”).

The NCDs proposed to be issued under the Issue have been rated “CRISIL AA/Stable” by CRISIL Ratings and “IND AA/Stable” by India Ratings. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited and Motilal Oswal Investment Advisors Limited^#are the Lead Managers to the Issue. The NCDs are proposed to be listed on BSE and NSE. The Company has received an in-principle’ approval from BSE and NSE. For the purposes of this Issue, BSE shall be the Designated Stock Exchange.