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Security Name: 9.70% Magma HDI General Insurance Company Limited 28 Dec 2033

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ISIN:
INE312X08026
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Taxable

Tax Category

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28 Dec, 2028

Call Date
(3 Yr 11 Mo 4 D to call)

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Yearly

Interest Payment Frequency

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Yes

NRI Eligibility

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28 Dec, 2023

Allotment Date

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NA

Put Date

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28 Dec, 2025

Next Interest Payment Date

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15 days

Shut Period

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Both

Active on NSDL/CDSL

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Non-Guaranteed

Type of Guarantee

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No

Perpetual

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Private Placement

Mode of Issue

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Listed

Listing Details

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Non Public Sector Undertaking

Type of Issuer

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₹100.3894

Dirty Price

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9.7%

Coupon

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Fixed Interest

Coupon Basis

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9.6624%

Current Yield

YOUR EARNING

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Your Investment

₹2,00,778.8

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Final Payout

₹0

Year
Payment Schedule(Date)
Interest Payout(₹)
*All Interest Payments will be subject to TDS (Not Applicable on Government Securities and Tax Free Bonds)
YOUR RISK
Credit Rating
Low SafetyHigh Safety
AA Stable
CARE
Subordinated Tier 2

Repayment Priority

Higher the level, higher the priority of investment repayment on default

Unsecured

Security with Collateral?

An investment secured with collateral helps

ISSUER
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Magma HDI General Insurance Company Limited

Magma was incorporated in 2009 as a joint venture (JV) between Magma Fincorp Limited, Celica Developers Private Limited, Jaguar Advisory Services Private Limited, and HDI Global SE Germany. The company obtained the licence to undertake general insurance business on May 22, 2012, from the Insurance Regulatory and Development Authority of India (IRDAI). As on March 31, 2023, the company offers both, retail and commercial general insurance products. The company had a market share of 0.99% in the non-life insurance space in FY23.

The ratio in FY24 is -2.86x and it was -0.36x in FY23, indicating increased debt level due to increase in the borrowings and the finance cost of the issuer in FY24.

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Debt/EBITDA

The ratio in FY24 is -10.46x and it was -31.84x in FY23, indicating decrease in the debt servicing ability of the issuer due to increase in the finance cost in FY24.

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Interest coverage ratio

Recent News
News Thumbnail
Magma HDI General Insurance introduces the ‘Battery Secure Add On’ for privately owned vehicles

Mar 30, 2024 | Magma HDI General Insurance Company Limited

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Poonawalla Fincorp to divest stake in Magma HDI General Insurance

Mar 30, 2024 | Magma HDI General Insurance Company Limited

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These 2 new car insurance add-ons could cut your out-of-pocket expenses

Sep 11, 2024 | Magma HDI General Insurance Company Limited

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STEPS TO BUY THIS BOND
Complete KYCe-KYC approval in just 5 minutes!Place your OrderSwipe right to buy this Bond.Transfer funds to ICCLUse Net Banking or visit your nearest branch.SettlementSit back and relax, while we deliver your Security!
Information required for KYC
PAN Card
Bank Account Proof
Aadhaar Card
Demat Account Proof
How to exit the investment?
At MaturityThe Issuer will return your principal and redeem the bond
Sell your bond anytimeYou can sell your bond anytime you want by reaching out to your Relationship Manager.
E-Book
To know more about the Bond and the issuer, download the Information Memorandum.
E-Book
To read about the reasons for the ratings assigned to the Bond, download the Rating Rationale.
Clean Price
Yield (YTC)
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₹2,00,778.8
Principal Amount
₹0
Accrued Interest from Dec 28, 2024

Enter no. of bonds you want to buy

BOND VALUE DETAILS

Face Value
₹1,00,000
Market Value
₹1,00,389.4
Stamp Duty
₹0
Select a Settlement Date:
Total Investment
₹2,00,778.8
Cashflow for INE312X08026
Disclaimer: The actual dates and interest amounts can vary depending on Bank closures, holidays etc. Tax Deducted at Source (TDS) is applicable on interest receivable based on relevant tax regulations. You can avail TDS credit while filing your Income Tax Return (ITR).
Security Name
9.70% Magma HDI General Insurance Company Limited 28 Dec 2033
Credit Rating
AA Stable by CARE
Coupon Frequency
Yearly
Face Value
₹1,00,000
Coupon
9.700000%
YTM or YTC
YTC
Call Date
28/12/2028
Security
Unsecured Subordinated Tier 2
No. of Bonds
2
Settlement Date
Jan 23,2025
Principal Amount
₹2,00,778.8
Accrued Interest
₹0
Stamp Duty
₹0
Total Amount Payable
₹2,00,778.8
Price
₹100.3894
Yield
0%
YearPayment DateAmountPayout Type

Disclaimer: Investments in Debt Securities/ Municipal Debt Securities/ Securitised Debt Instruments are subject to risks including delay and/ or default in payment. Read all the Offer Related documents carefully.

Source: Issuer website, Rating Rationale, Issuer Annual Report, Information Memorandum and News from Google.

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