Hawkins Cookers to open three-year FD scheme offering up to 8% from September 16
Hawkins Cookers will open an unsecured fixed-deposit scheme on September 16, offering up to 8% interest for a three-year tenure. The issue is rated ICRA AA- (Stable).
What happened
Hawkins Cookers will open a new unsecured fixed-deposit scheme on September 16, offering up to 8% interest for a three-year term. The issue is rated ICRA AA-
Key facts
- 8% interest rate
- three-year tenure
- ICRA AA- (Stable) rating
- 10.5% three-year deposit rate in 2019
- September 16 opening date
Why this matters
The FD launch broadens Hawkins’ funding mix and indicates access to retail debt capital at a lower headline cost than in 2019, supporting flexibility for working capital or investment.
What to watch
- Total deposits mobilised versus the announced or implied funding requirement.
- Changes in RBI policy rates, bank FD rates and competing corporate-deposit yields.
- ICRA rating actions, especially any revision to the Stable outlook.
- Quarterly finance cost, debt levels, interest coverage and operating cash-flow trends.
- Inventory build, dealer receivables and demand trends in cookware and consumer durables.
- Disclose the targeted deposit mobilisation amount, issue size, tenure-wise rates and closure terms.
- Use proceeds primarily for working capital, repayment or replacement of higher-cost borrowings, and general corporate purposes.
- Monitor subscription levels and potentially adjust future deposit rates if market yields or funding needs change.
- Maintain ICRA AA- (Stable) credit metrics through disciplined leverage, liquidity and interest-coverage management.