Shriram City Union Finance Limited - Karvy

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TABLE OF CONTENTSSECTION I : GENERAL ................................................................................................................................................................................iDefinitions / Abbreviations ................................................................................................................................................................................iForward Looking Statements......................................................................................................................................................................... viiiSECTION II : RISK FACTORS....................................................................................................................................................................1SECTION III : INTRODUCTION ..............................................................................................................................................................20General Information ........................................................................................................................................................................................20Summary of Business, Strength & Strategy ....................................................................................................................................................28The Issue .........................................................................................................................................................................................................33Summary Financial Information......................................................................................................................................................................35Capital Structure..............................................................................................................................................................................................47Objects of the Issue .........................................................................................................................................................................................58Statement of Tax Benefits ...............................................................................................................................................................................59SECTION IV : ABOUT THE ISSUER COMPANY AND THE INDUSTRY .........................................................................................63Industry............................................................................................................................................................................................................63Our Business....................................................................................................................................................................................................82History, Main Objects And Key Agreements..................................................................................................................................................98Our Management...........................................................................................................................................................................................109Our Promoter.................................................................................................................................................................................................121Our Subsidiary...............................................................................................................................................................................................121SECTION V : FINANCIAL INFORMATION.........................................................................................................................................128Financial Statements ......................................................................................................................................................................................128Disclosures on Existing Financial Indebtedness .............................................................................................................................................129Material Developments .................................................................................................................................................................................135SECTION VI : ISSUE RELATED INFORMATION ..............................................................................................................................136Terms of the Issue .........................................................................................................................................................................................136Issue Structure ...............................................................................................................................................................................................139Issue Procedure..............................................................................................................................................................................................151SECTION VII : LEGAL AND OTHER INFORMATION .....................................................................................................................164Pending Proceedings and Statutory Defaults .................................................................................................................................................164Regulations and Policies................................................................................................................................................................................175Summary of Key Provisions of Articles Of Association...............................................................................................................................183Material Contracts and Documents For Inspection .......................................................................................................................................186DECLARATION .........................................................................................................................................................................................188
SECTION I : GENERALDEFINITIONS / ABBREVIATIONSCompany related termsTerm"SCUFL", "Issuer", “the Company”and “our Company”AOA/Articles / Articles of AssociationBoard / Board of DirectorsDINESOP 2006ESOP 2008Equity SharesFitchLoan AssetsMemorandum / MOANet Interest Margins/NIMNet Loan AssetsNAVNBFCNPAPromoter(s)` / Rs./ INR/ RupeesSCLDescriptionShriram City Union Finance Limited, a company incorporated under theCompanies Act, 1956, registered as a Non-Banking Financial Company withthe Reserve Bank of India under Section 45-IA of the Reserve Bank of IndiaAct, 1934, and having its Registered Office at 123, Angappa NaickenStreet, Chennai-600001, Tamil Nadu, IndiaArticles of Association of our CompanyThe Board of Directors of our Company and includes any Committee thereoffrom time to timeDirector Identification NumberThe Company Employee Stock Option Scheme of the year 2006, namely, “SCUFEmployee Stock Option Scheme 2006”The Company Employee Stock Option Scheme of the year 2008, namely, “SCUFEmployee Stock Option Scheme 2008”Equity shares of face value of ` 10/- each of our CompanyFitch Ratings India Private LimitedAssets under financing activitiesMemorandum of Association of our CompanyInterest income net off the amount of outgoing interest paid by the Companyon its liabilitiesAssets under financing activities net of provision for non-performing assetsNet Asset ValueNon-Banking Financial Company as defined under Section 45-IA of the RBIAct, 1934Non Performing AssetShriram Enterprise Holdings Private Limited and Shriram Retail holdingsPrivate LimitedThe lawful currency of the Republic of IndiaShriram Capital Limitedi
Page 1: Draft ProspectusDated July 21, 2011
Page 5 and 6: TermDebenture Holder (s)Debt Listin
Page 7 and 8: that notice of such early closure i
Page 9 and 10: TermROCRTGSSBISCRASCRRSEBIDescripti
Page 11 and 12: • Emergence of new competitors;
Page 13 and 14: SECTION II : RISK FACTORSProspectiv
Page 15 and 16: may be lower than the outstanding l
Page 17 and 18: and other liberalization measures a
Page 19 and 20: previous working relationship; succ
Page 21 and 22: As part of our means of raising and
Page 23 and 24: 24. We may have to comply with stri
Page 25 and 26: valuation mechanism, which are pers
Page 27 and 28: Risks Relating to the Utilization o
Page 29 and 30: As on March 31, 2011, 24 % of our A
Page 31 and 32: 5. Investors may contact the Regist
Page 33 and 34: Lead Managers:JM Financial Consulta
Page 35 and 36: Bankers to our CompanyANDHRA BANKCo
Page 37 and 38: STATE BANK OF BIKANER AND JAIPUR1 s
Page 39 and 40: warrant. CRISIL is not responsible
Page 41 and 42: We leverage on the Shriram Group’
Page 43 and 44: Access to a range of cost effective
Page 45 and 46: THE ISSUEThe following is a summary
Page 47 and 48: SUMMARY FINANCIAL INFORMATIONThe fo
Page 49 and 50: B. SUMMARY INFORMATION OF OUR UNCON
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ParticularsFor the year ended March
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E. SUMMARY INFORMATION OF OUR CONSO
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F. SUMMARY INFORMATION OF OUR CONSO
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CAPITAL STRUCTUREDetails of share c
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Date of AllotmentNumber of sharesis
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Sr.NoCategory ofShareholderNumberof
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Sr. No. Name of holder Number ofins
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11. List of top ten holders of Secu
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Employee Stock Option SchemesPursua
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STATEMENT OF TAX BENEFITSUnder the
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provisions of Chapter XII-A shall c
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SECTION IV : ABOUT THE ISSUER COMPA
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Initially, the NBFCs registered wit
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Overall Demand Drivers in the Two W
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wheelers and similar forms of intra
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Players are now adopting stringent
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Growth in CV finance disbursements`
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SI.No.YearTotalMSMEs(lakhnumbers)Fi
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women and all loans to the North Ea
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segment and the ability to provide
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NBFCs in the Indian gold loans mark
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We leverage on the Shriram Group’
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Access to a range of cost effective
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Our Company’s ProductsProduct Fin
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All customer origination and evalua
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maintain low gross and net NPA leve
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The following table sets forth the
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Credit RatingAgencyCAREInstruments
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TechnologyWe use information techno
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act as, and to undertake and carry
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Company equal to or more than 7% of
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(c) Term and termination: Either pa
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Pursuant to the Agreement, the Inve
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• more than 50% of the fully dilu
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OUR MANAGEMENTBoard of DirectorsThe
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Name, Designation,Age and DINNation
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commercial banks. He was the chairm
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Remuneration of the DirectorsThe in
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A. Audit CommitteeThe members of th
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To form Sub CommitteesD. Asset liab
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OUR PROMOTERProfile of our Promoter
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Particulars FY 2008 FY 2009 FY 2010
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Particulars FY 2008 FY 2009 FY 2010
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Sr.No.Name of Shareholder Address N
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PIJUSH GUPTA & COC H A R T E R E D
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8. This report should not be in any
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Annexure IShriram City Union Financ
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Annexure IIShriram City Union Finan
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Shriram City Union Finance LimitedA
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Annexure IIIShriram City Union Fina
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Annexure IVShriram City Union Finan
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Annexure VShriram City Union Financ
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Annexure VIShriram City Union Finan
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Annexure VIIShriram City Union Fina
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Annexure VIIIShriram City Union Fin
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Annexure IXShriram City Union Finan
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Annexure IXC. Cash Credit from Bank
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Annexure XShriram City Union Financ
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Annexure - XIIShriram City Union Fi
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c. Fixed Assets, Depreciation / Amo
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g. Revenue recognitioni. Income fro
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j. Segment reportingThe company ope
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2010 - 20112. Notes to Accounts1. P
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c) Term Loans:i. From Financial Ins
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Changes in the present value of the
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Enterprises havingsignificant influ
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Deferred Tax AssetTiming difference
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Stock Options grantedThe weighted a
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12. SecuritizationThe information o
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c) All Debentures under (a) and (b)
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Balance sheetDetails of Provision f
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(Rs. In Lacs)Enterprises havingsign
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5. Deferred Tax Liabilities/(Asset)
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The details of Series I have been s
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Since the enterprise used the intri
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13.1 Licensed Capacity, Installed c
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) Term Loans:As at March 31,2009(Rs
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Profit and Loss accountNet employee
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The estimates of future salary incr
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7. Related Party DisclosuresRelated
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* Denotes transactions with Shriram
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(Rs. in lacs)As at March 31, As at
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Stock Options grantedSeries I:The w
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15. SecuritisationThe Company sells
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2007 - 20082. Notes to Accounts1. P
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2. Subordinated DebtThe Company has
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The principal assumptions used in d
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6. Related Party DisclosuresRelated
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9. Earnings per shareParticularsYea
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Income Tax/Wealth TaxDisputed Incom
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Stock Options grantedSeries I:The w
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15. SecuritisationThe Company sells
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2006 - 2007B) Notes to AccountsPart
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9. Expenses in respect of common br
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15. Details of Deferred Tax Liabili
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3(Rs. In lacs)As on March 31,Partic
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(Rs. In lacs)ParticularsAmount outs
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7 Investor group-wise classificatio
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PIJUSH GUPTA & COC H A R T E R E D
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Other consolidated Financial Inform
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Annexure IIShriram City Union Finan
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Shriram City Union Finance LimitedC
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Shriram City Union Finance LimitedS
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Annexure VIShriram City Union Finan
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Shriram City Union Finance Ltd.,Ann
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Shriram City Union Finance Ltd.,Ann
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Annexure XIShriram City Union Finan
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(E)InvestmentsInvestments intended
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(K)Segment reportingThe company ope
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) Privately Placed Redeemable Non-C
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Balance sheetDetails of Provision f
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PaymentsEnterprises having signific
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(8) Deferred Tax Liabilities/(Asset
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The details of Stock Option plan ar
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In March 2005 the ICAI has issued a
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As per our report of even dateFor P
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Sr.No.Particulars16. Industrial Dev
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Sr.No.Particulars Date of sanction
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1. to declare and/ or pay dividend
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SECTION VI : ISSUE RELATED INFORMAT
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person, being a nominee, becoming e
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*With respect to applications recei
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e paid on the next working day. Pay
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Please note that failure to do so c
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We may at our discretion redeem the
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other NCDs in their place. The afor
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from the date of receipt of the app
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or entities.Applicants are advised
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3. Filing of the Prospectus with RO
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in the Application Form would be us
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B. Additional ApplicationsAn applic
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12. Allotment Advice / Refund Order
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iii) In the event, there are more t
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SECTION VII : LEGAL AND OTHER INFOR
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within the meaning of section 271 (
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OTHER REGULATORY AND STATUTORY DISC
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ActivityFees payable legal advisors
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(Source: www.bseindia.com)NSEMonth
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Year ended As at 31st March` In Lak
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(ii)NBFCs are not allowed to deal i
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when hire charges are actually rece
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different rates of interest for dif
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Labour LawsThe Company is required
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…Clause (3) of Article 42 at thei
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MATERIAL CONTRACTS AND DOCUMENTS FO
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DECLARATIONWe, the Directors of the
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Shriram City Union Finance Limited - Karvy

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