Megha Finance
Limited Availability
13% Annualized IRR
RBI-Registered company
Asset-based security
Guaranteed by promoters
17 months tenure
Monthly Payouts
Rs. 50,000 minimum investment
Promoters have 20+ years of experience
IDBI Trusteeship monitoring
About Ascend Capital
RBI-registered NBFC
Megha Finance is licensed and closely monitored by RBI, India’s paramount financial institution
Vehicle Finance Specialists
Megha Finance specializes in giving vehicle loans across Northern India
Perfect Track Record
Megha Finance has never defaulted on any loan in the past, and has a perfect repayment record
Experienced Team
The promoters have been in the auto finance and distribution business for 20+ years, and most of the senior team has been with them for 10 years
Profitable Company
Megha Finance has been profitable every year for the last 3 years
Large Client Base
Megha Finance has 23 branches spread across Northern india
Why We Are Bringing You This Deal
Attractive terms
13% annualized pre-tax IRR is an extremely attractive return for a product as balanced as this
Strong Security
Multi-pronged security of assets, personal guarantee of both promoters, and post-dated cheques gives us a lot of comfort for risk management.
Strong Management Team
The promoters have been in the auto finance and distribution business for 20+ years, and most of the senior team has been with them for 10 years
Non-market Linked Returns
The product is independent from the stock market. Even if the market crashes, there will be no change in the returns and repayment schedule
Monthly Payments
Monthly interest payments + quarterly principal returns means that investors are generating sizeable passive income
Short Tenure
The entire product matures in 17 months, which means that investors have flexibility to get their money back quickly
About the Trustee
IDBI Trusteeship is a SEBI-registered Trustee company, and is promoted by IDBI, LIC and GIC.
The Debenture Trustee monitors the security on behalf of the investors, and flags any deviation or breach of the terms agreed.
The strong pedigree and reputation of the trustee ensures that they will not compromise the interest of the investors.
About The Security
The most important aspect of the underlying security is that it is a loan book, which constitutes an Income Generating Asset. Unlike other securities (like property), the pledged loan book generates cash-flow for Megha Finance every month. This reduces the repayment burden, and greatly increases the surety of timely payment of your monthly returns.
Personal Guarantee
All the promoters are giving their personal guarantee to protect the investor, which includes access to all their personal properties and assets. This means that the promoters take personal responsibility to repay investors by using their own assets if required.
120% Cover
Megha Finance will ensure that the pledged loan book will not fall below 120% of your outstanding investment. Any delinquent loans will be replaced in a timely manner.
Asset-backed loan book only
The pledged book will constitute only loans given to retail borrowers against a physical vehicle or property. The asset will remain pledged until the entire loan is paid off, and can be repossessed at any time in case of default.
Minimum Ownership Clause
The existing promoters are required to hold minimum 51% ownership stake in the company. They cannot sell their shares and exit without compensating the investors.
Indicative Repayment Schedule
Investment of Rs. 50,000
- Investment amount: Rs. 50,000
- Date of Investment: 1st April 2024
- As per schedule below
- Payout date: 1st of every month
- Tenure: 17 months
- XIRR: 13%
| Date | Cashflow | Interest | Principal |
|---|---|---|---|
| 1-Apr-24 | -100000 | 0 | 0 |
| 1-May-24 | 1541 | 1541 | 0 |
| 1-Jun-24 | 13101 | 1541 | 11560 |
| 1-Jul-24 | 1387 | 1387 | 0 |
| 1-Aug-24 | 1387 | 1387 | 0 |
| 1-Sep-24 | 12947 | 1387 | 11560 |
| 1-Oct-24 | 1233 | 1233 | 0 |
| 1-Nov-24 | 1233 | 1233 | 0 |
| 1-Dec-24 | 18573 | 1233 | 17340 |
| 1-Jan-25 | 1002 | 1002 | 0 |
| 1-Feb-25 | 1002 | 1002 | 0 |
| 1-Mar-25 | 18342 | 1002 | 17340 |
| 1-Apr-25 | 771 | 771 | 0 |
| 1-May-25 | 771 | 771 | 0 |
| 1-Jun-25 | 18111 | 771 | 17340 |
| 1-Jul-25 | 539 | 539 | 0 |
| 1-Aug-25 | 539 | 539 | 0 |
| 1-Sep-25 | 17879 | 539 | 17340 |
| XIRR | 13.0% | ||
Documents
Bond Issue Memo
PAS-4
Some Love From Our Clients
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