Issue Dates: The NCD issue will open on September 4 and close on September 17, 2024, with an option for early closure or extension.
Credit Rating: The NCDs proposed to be issued have been rated "CARE A+; positive" by CARE Ratings Ltd. Securities with this rating are considered to have an adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk.
Offering Details: AEL's offering includes up to 80 lakh NCDs, each with a face value of ₹1,000. The base size issue is ₹400 crore, with an option to retain oversubscription up to an additional ₹400 crore (greenshoe option), aggregating up to ₹800 crore.
Use of Proceeds: The proceeds from the issue will primarily be used for prepayment or repayment (at least 75%) of existing indebtedness and general corporate purposes (up to 25%) in compliance with SEBI regulations.
Lead Managers: Trust Investment Advisors Pvt Ltd, A K Capital Services Ltd, and Nuvama Wealth Management Ltd are the lead managers to the issue.
Tenors and Interest Payment Options: The NCDs are available in tenors of 24 months, 36 months, and 60 months, with quarterly, cumulative, and annual interest payment options across eight series.
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