MYRE Capital x Orange LAP

Opportunity
INVESTMENT NOTE

www.myrecapital.com
 Orange Finance LAP Secured Bond Series-A Overview

MYRE Capital is offering an exclusive

Security Collateral opportunity to invest in a High Yield Senior
Type
INVESTMENT 1.5x Secured Bond issued by one of India’s
Senior
HIGHLIGHTS Accrued Interest & leading RBI Registered Retail NBFCs,
Secured Bond Orange Retail Finance India Private Limited.
Principal
The bond is secured with a diversified Loan
Against Property (“LAP”) Lending Book
backed by Real Estate Assets.
Interest Repayment Principal Repayment Investment Tenure
Traditionally, LAP has been one of the most
Monthly 25% Annually 4 Years
secure forms of lending considering
relatively low GNPA and NNPA statistics.
MYRE has pioneered a framework to enable
Retail Investors to participate in the LAP
Debenture Trustee sector via curated fixed income
Minimum Investment Fixed XIRR Issue Size instruments.
IDBI Debenture
₹ 15 Lacs 11.0% ₹ 20 Cr
Trustee(1)
We believe this opportunity presents a
compelling risk-return proposition, providing
investors with unprecedented access to
The NCDs are issued by Orange Retail Finance India Private Limited Secured LAP Bonds.
1) IDBI Debenture Trustee (a SEBI registered debenture trustee)
Orange Retail Finance

● Company Overview
● Business Model – NBFC Debt Financing
● Vision, Mission & Track Record
● Founding Team
● Financials & Key Metrics
● Lenders & Co-Lenders
 Orange Finance Overview
Orange Retail Finance India Private limited (“ORFIL”) is an established Non-Banking Financial Company
(“NBFC”), incorporated in 2013. ORFIL has disbursed more than 1,100+ Cr of loans to date and presently
manages a diversified loan book in excess of INR 400 Cr.

ORFIL is known for its passion for transforming the lives of Indians, specializing in affordable finance
solutions directed towards Semi-urban and Rural India. We believe these areas are under-serviced,
especially in terms of financial convenience - ORFIL has invested into building on-ground distribution
networks in such areas and is strategically positioned to address these markets.

₹ 1,100+ Cr 10+ 1,700+ ₹ 550+ Cr 0%

Total Blue Chip Debt and Employee’s Projected Book size Net NPA in current
Disbursements Anchor Investors Strength (FY23-24) LAP Loan book
Vision, Mission & Track Record
 Promoter & Anchor Investors
Ebenezer Daniel G
Promoter, MD & CEO
First Gen Entrepreneur. MBA graduate from
Madurai Kamaraj University. Hails from
Culture Capital of Tamil Nadu. Building Semi
Urban & Retail distribution always been the
Forte. Ex CitiFinancial, Ex Fullerton India.
Handled various products like Two-Wheeler
Finance, Mortgage Loans, Business Loans and
Personal Loans throughout the stint. Founded
ORFIL in 2013 with a Vision to become the
Preferred Neighbourhood Financier.
Ashvin Chadha
Anchor Investor
Mr. Ashvin Chadha has spent over a decade working in the
financial services industry both in India and the United
States. He started his professional career as an investment
banker with Morgan Stanley in New York. He then joined
General Atlantic LLC, a worldwide private equity firm, where
he was based in the New York City and Greenwich offices.
In 2011, Ashvin moved to Delhi to set up his own family
office to invest in debt securities of mid-market Indian
companies. He has successfully invested over INR 100 crs.
of proprietary capital in debt securities across 20
companies in the last 5 years. Ashvin completed his
education from Wesleyan University and The London School
of Economics
IAS Balamurugan
Anchor Investor
Mr.I A S Balamurugan has over 22 years of
experience in Banking and Financial Services
industry. He co-founded Metis Family Office
Services Pvt Ltd in the year 2010. Prior to
founding Metis, Bala has held credible
positions in the senior management of
Institutions like Citibank, UBS & ICICI bank for
almost 17 years.
He has a diverse domain specialization across
banking businesses, namely Private Wealth
Business, Commercial Banking, Investment
Banking & Corporate finance. Bala has a BE
and MBA from Madurai Kamaraj University.
 Financial & Key Metrics Amounts for EBITDA, Net Worth, AUM Crore INR

Debt/Equity
Financial Snapshot Net Worth AUM EBIDTA GNPA NNPA CRAR
Ratio

March 2020 95.0 404.2 11.7 1.1 5.9% 5.2% 32.0%

March 2021 98.6 341.1 9.6 0.7 9.0% 7.8% 35.7%

March 2022 109.5 371.6 (0.1) 1.4 4.5% 3.6% 34.8%

December 2022 (YTD) 98.6 411.2 (2.3) 1.8 5.5% 4.7% 34.1%
Lending Partners
Co-Lending Partners
What are NBFCs & LAP Bonds?

● What are NBFC’s?

● What is a Secured LAP Bond?
● Security & Risk Mitigation
● Investor Returns
● Illustrative Repayment Schedule
 What are NBFC Bonds?
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the
business of loans and advances, regulated by RBI.

Investors in Entity/Person
NBFC Bonds receiving Debt

Monthly Interest and Provides Debt Monthly EMI

Debt Investment
Annual Principal Against Assets Repayment
Secured by Collateral
Repayment from NBFC

Non Banking
Finance
Corporation
What is a Secured NCD LAP Bond?

LAP stands for Loan Against Property. Loan issued to any entity or person by financial institutions against
property like land, commercial establishments, buildings, houses, etc.

A Senior Secured bond is a bond that is backed by a tangible asset class. The word “Senior” in the phrase
implies the senior-most priority to get repaid in case the NBFC defaults or/and the “asset class” pledged under
the bond is liquidated.

The “Senior Secured Bond” instrument is the most secured alternative for any entity in India to raise money from
accredited investors.

Senior Secured LAP Bonds are backed by LAP as an asset class.

Collateral: Senior Secured Obligations:

Senior Secure Bonds get highest priority in receiving

Hypothecated collateral comprises of INR 30 crore (1.5 X)
repayment incase the NBFC goes under Liquidation. This
of loan book & associated receivables equivalent to the
is the highest level of Capital seniority. Highest
Principal Amount and Accrued Interest.
Repayment
Lowest Risk Priority

The health of the loan book will be maintained on an

ongoing basis, with ineligible loans being replaced by
qualified loans.

Collateral &
Security Highest Risk Lowest
Repayment
Priority

Repayment: Debenture Trustee:

Bond Holders will have first charge on 100% receivables from

IDBI Trusteeship Services Limited (a SEBI registered
the EMI payments from the hypothecated loan book amounting.
debenture trustee) has been appointed to safeguard the
Orange will transfer the repayment amount each month to a
interest of the debenture investors by providing strict
dedicated escrow account.
oversight on the obligations and repayment from the
issuer.
Further, the principal will be repaid 25% annually and interest
will be disbursed monthly.
Investor Returns
Cumulative Returns

126.3%
XIRR
11.0%

98.7%
68.4%
Principal

35.5%
Repayment
Annually

YEAR 1 YEAR 2 YEAR 3 YEAR4

Interest
Repayment
Monthly Total Repayment
(Interest + Principal)
Cumulative Returns

Year 1 35.5% 35.5%

Minimum Year 2 32.9% 68.4%
Investment Year 3 30.3% 98.7%
INR 15 Lacs Year 4 27.6% 126.3%
 Illustrative Repayment Schedule
Principal Principal Principal Principal
Month Net Interest Total Month Net Interest Total
Outstanding repayment Outstanding repayment

1 1,500,000 13,377 0 13,377 25 750,000 6,688 0 6,688

2 1,500,000 12,945 0 12,945 26 750,000 6,473 0 6,473
3 1,500,000 13,377 0 13,377 27 750,000 6,688 0 6,688
4 1,500,000 12,945 0 12,945 28 750,000 6,473 0 6,473
5 1,500,000 13,377 0 13,377 29 750,000 6,688 0 6,688
6 1,500,000 13,377 0 13,377 30 750,000 6,688 0 6,688
7 1,500,000 12,945 0 12,945 31 750,000 6,473 0 6,473
8 1,500,000 13,377 0 13,377 32 750,000 6,688 0 6,688
9 1,500,000 12,945 0 12,945 33 750,000 6,473 0 6,473
10 1,500,000 13,377 0 13,377 34 750,000 6,688 0 6,688
11 1,500,000 13,377 0 13,377 35 750,000 6,688 0 6,688
12 1,500,000 12,514 375,000 387,514 36 750,000 6,041 375,000 381,041
13 1,125,000 10,033 0 10,033 37 375,000 3,344 0 3,344
14 1,125,000 9,709 0 9,709 38 375,000 3,236 0 3,236
15 1,125,000 10,033 0 10,033 39 375,000 3,344 0 3,344
16 1,125,000 9,709 0 9,709 40 375,000 3,236 0 3,236
17 1,125,000 10,033 0 10,033 41 375,000 3,344 0 3,344
18 1,125,000 10,033 0 10,033 42 375,000 3,344 0 3,344
19 1,125,000 9,709 0 9,709 43 375,000 3,236 0 3,236
20 1,125,000 10,033 0 10,033 44 375,000 3,344 0 3,344
21 1,125,000 9,709 0 9,709 45 375,000 3,236 0 3,236
22 1,125,000 10,033 0 10,033 46 375,000 3,344 0 3,344
23 1,125,000 10,033 0 10,033 47 375,000 3,344 0 3,344
24 1,125,000 9,062 375,000 384,062 48 375,000 3,021 375,000 378,021
Risks & Mitigants

● Risks involved with NBFC Investing

● Security Pool & Underlying Assets
 Risks Involved with NBFC Investing
Key Risks Explanation
In case an NBFC declares bankruptcy, there is a risk of not
Credit Risk recovering your invested principal. If the NBFC defaults, it will
enter bankruptcy proceedings, which is a lengthy process.
Underlying loans that are hypothecated default. This risk tends to
Collateral and
amplify If the level of exposure to a single counterparty is
Concentration Risk
substantial.
Unlisted bonds tend to have relatively lower liquidity options.
Investors can reach out to us or any other broker/facilitator to
Liquidity Risk
identify a potential buyer. However, there is no guarantee that
such a buyer would always be present.
Mitigants
In such case, the NBFC will go through Bankruptcy and Liquidation Proceedings.
Since these are Senior Secured Bonds, the underlying collateral will be monetized
and priority repayment will be given to such bond holders. The money would be
realized post the bankruptcy proceedings of the entity which may take some time.
The hypothecated loan book comprises of diversified loans – having not more
than 0.5% exposure to any single loan. Further the collateralized loan book has a
1.5x cover that is sufficient to account for potential NPA’s. The health of the loan
book is also being maintained on an ongoing basis – ineligible loans will be
replaced by qualified loans each quarter.
The principal repayment has been structured as 25% annually to give ongoing
liquidity built into the repayment structure of the bond. Further, MYRE will utilize
its expansive investor network to identify any potential buyers incase any investor
requires premature liquidity.
Security Pool & Underlying Assets
The health of the hypothecated Loans will be assessed each quarter. Ineligible loans that do not meet the following

Security Pool Criteria will be replaced with qualified loans.

KYC of the borrowers should be done as per the norms specified by the RBI

Minimum CIBIL score of the underlying borrower should be more than 650

Overdue loans should be replaced with fresh loans having no overdue

No loans should be restructured or rescheduled

Aggregate Collateralized Loan Book should have minimum 1.5x receivables of the accrued interest and principal
MYRE Capital

● India’s First Neo-Realty Investment Platform

● Opportunity Selection Process
● Performance Update
● Investor Dashboard
● Awards & Recognition
MYRE Capital Vision & Mission

Commercial real estate has been the

MYRE Capital is India’s First preferred asset class for institutional
Neo-Realty Investment
investors and HNIs. This asset class
Platform that provides access has a high barrier to entry because of
to a curated selection of
which it has traditionally been an
institutional grade investment opaque, illiquid, and unaffordable
opportunities in the
investment option for most retail
Commercial Real Estate Sector investors.

Our vision is to democratize

commercial real estate investments
Assets Under Performance Publications Users and empower the everyday investors to
Management

₹ 250+
participate in institutional grade
100% 250+ 37,000+ opportunities at reduced investment
Crores in past On-time collection National & From 20+ Cities
12 months and distribution to International And 16+ Countries
minimums.
investors
 Opportunity Selection
Each opportunity is shortlisted based on stringent criteria involving predictive analytics across 150+ data points,
25 years of industry expertise, and our proprietary technology solutions.

Sourcing Funnel
MYRE leverages its industry
relationships, partnerships, and
Over 100 million sq ft
of deals sourced proprietary data insights to
identify opportunities
Quantitative Evaluation
Each Opportunity is evaluated in Quantitative
real time using automated AI/ML Evaluation
algorithms and big-data insights

The MYRE shortlist

Top 10% The top 10% are added to
the MYRE shortlist
Opportunity Listing
Less than 1% of the deals get <1%
listed on our platform after Live
extensive due diligence
 MYRE Performance Update
MYRE Capital has facilitated 250+ crore of investments in the Debt & Commercial Real Estate Sectors. Across all our
opportunities, we have maintained 100% on-time distributions to investors.

Our Tenants & Occupiers

Magarpatta 1 JIL 413

Delhi

Mumbai
Times Square Magarpatta 2
Pune

Bengaluru

Maker Maxity Vaishnavi Tech

Park
The MYRE Investor Dashboard
The dashboard is a seamless solution to provide investors with real time investment details & updates, secured
documentation, automated KYC processes, and end-to-end portfolio tracking.

o Real time overview of performance

and earnings

o Detailed tracking of each investment

opportunity

o Comprehensive timeline to monitor

the progress of your investment, with
real time updates

o Complete earning transparency and

breakdown

o Integrated secured document signing

and access
Awards and Recognition
 Glossary

Links to Financial Statements

1. Orange Financials à https://drive.google.com/drive/folders/10rzVCD5Su_3fEIKidAwHPT_E4UNui1v9

2. Orange Finance Corporate Deck à https://drive.google.com/drive/folders/10rzVCD5Su_3fEIKidAwHPT_E4UNui1v9

Miscellaneous Links
1. Schedule A Call with MYRE Capital à https://blog.myrecapital.com/meetings/booking-calendar/30mins

2. MYRE Capital Website à https://myrecapital.com/

3. Illustrative Financial Model à https://blog.myrecapital.com/hubfs/Orange/Illustrative%20Investor%20Model%20(Orange%20Senior%20Secured%20LAP%20Bonds).xlsx

 Get in touch today!

Mumbai Delhi Bangalore

B Wing - 501, Kanakia Wallstreet, N - 85, Panchsheel Park, 621/30, 4th Floor, Prestige Craig
Andheri East, Mumbai 400093 New Delhi - 110017 House, MG Road, Bengaluru - 560001

www.myrecapital.com
 Disclaimer and Risk Disclosure
Statement by MYRE Capital

All the information in this document (“presentation”) is published in good faith and for general information purpose only. MYRE TECH LLP (“MYRE”) does not make any warranties about the completeness, reliability and accuracy of this information. Any
action you take upon the information you find in this presentation, is strictly at your own risk. MYRE will not be liable for any losses and/or damages in connection with the use of this presentation.
MYRE TECH LLP’s research team, software, algorithms and analytical processes used have, to the best of its ability, taken into account various factors –both quantitative measures and qualitative assessments, in an unbiased manner, while designing a
suitable investment model. However, such assessments carry inherent unknown risks and uncertainties linked to broad markets as well as analysts’ expectations about future events. The material in the presentation herein has been prepared by MYRE
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The past performance of any opportunity listed in this presentation is not necessarily indicative of its future performance. MYRE TECH LLP is not guaranteeing or assuring any return under any of the opportunities listed. You are requested to exercise
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