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Max Financial Services Limited Capital/Financing Update 2021
60505_rns_2021-08-02_b29827d1-c164-4cf5-89ab-dcbe60bed915.pdf
Capital/Financing Update
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August 2, 2021
BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai — 400 001
2 nd Coupon Wednesday, August 2, 2023
Saturday, August 2,
3rd Coupon Friday, August 2, 2024
2025
4 Ih Cou on p
National Stock Exchange of India Limited Exchange Plaza, Bandra -Kuria Complex Bandra (E), Mumbai 400 051
Scrip Code : 500271 Name of Scrip : MFSL
Dear Sir/Madam,
Sub: Additional disclosures under SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015 regarding material subsidiary company
This is further to our disclosure letter dated July 30, 2021 regarding private placement of listed NCDs by our material subsidiary of the Company, viz., Max Life Insurance Company Limited (Max Life'). In this regard, we would like to state that Max Life had already received the 'inprinciple' approval from NSE for listing of NCDs vide letter Ref No.: NSE/LIST/3906 dated July 20, 2021. We would like to submit the following additional information in this regard:
| Tenure of theinstrument -date of allotmentand dateof maturity | Date ofallotment: August 2,2021; andDate ofmaturity: August 2, 2031 | |||||
|---|---|---|---|---|---|---|
| ifCharge/security,any,created overthe assets | any of the assets of MaxThereis no charge created onLife. | |||||
| Specialright/interest/privilegesattached to the instrumentand changes thereof | Nil. The instruments issued are unsecured, subordinated,listed, rated, redeemable, taxable, non-cumulative, nonconvertible debentures in the nature of 'SubordinatedDebt' in accordance with the Insurance Regulatory andDevelopment Authority of India (Other Forms of Capital)Regulations, 2015. The Debentures are fully paid up incash | |||||
| Coupon/interest offered | Coupon/ interest offered: 7.5% p.a. | |||||
| Schedule of | payment of coupon/interest and principal are as below: | |||||
| CashFlows | Original CouponPayment Date | Modified CouponPayment Date | No. of Days.1n CouponPeriod | Amount(in Rs.) | ||
| 1st Cou onp | Tuesday, August 2,2022 | Tuesday, August 2,2022 | 365 | 75,000 |
2025
1 MAX FINANCIAL SERVICES LIMITED
Wednesday, August
Friday, August 2,
Monday, August 4,
2, 2023 365 75,000
2024 366 75,000
365 75,000 (
A
ca as
| 5th Coupon | Sunday, August 2,2026 | Monday, August 3,2026 | 365 | 75,000 |
|---|---|---|---|---|
| 6th Coupon | Monday, August 2,2027 | Monday, August 2,2027 | 365 | 75,000 |
| th 7 Coupon | Wednesday, August2, 2028 | Wednesday, August2, 2028 | 366 | 75,000 |
| 8th Coupon | Thursday, August 2,2029 | Thursday, August 2,2029 | 365 | 75,000 |
| 9th Couponp | Friday, August 2,2030 | Friday, August 2,2030 | 365 | 75,000 |
| 10th Coupon | Saturday, August 2,2031 | Friday, August 1,2031 | 365 | 75,000 |
| Redemption | Saturday, August 2,2031 | Friday, August 1,2031 | 10,00,000 |
The Issuer shall have the right (but not the obligation) to exercise a call option in respect of all or part of the Debentures at the end of 5 (Five) years from the Deemed Date of Allotment ("Call Option") on any Call Option Payment Date. The "Call Option Payment Dates" are August 2, 2026, and annually thereafter on August 2, 2027, August 2, 2028, August 2, 2029 and August 2, 2030. The Call Option may be exercised by the Issuer only with the prior approval of IRDAI in accordance with the regulations of the IRDAI.
You are kindly requested to take note of the above.
For Max Financial Services Limited
V. Krishnan Company Secretary
