Hawkins Fixed Deposit scheme: Get whopping 11% interest on FD! Check details

Hawkins Cooker is offering up to 10.75% per annum interest rate on 3-year unsecured fixed deposits. The compounding yield on these deposits is up to 11.3% per annum. The interest rate offered for one-year unsecured FD by Hawkins is 10.25% per annum. The company is inviting applications for unsecured FDs pursuant to Sections 73 (2) (a) and 76 of the Companies Act, 2013, and Rule 4 (1) and (2) of the Companies (Acceptance of Deposits) Rules, 2014. 

The company can raise Rs 111.93 lakhs in fresh deposits for meeting the working capital requirements and/or unforeseen contingencies. 

Important dates: Scheme will be open between September 18, 2018, and September 30, 2018, or the date of the Company’s next Annual General Meeting, whichever is earlier.

Hawkins Cooker FD interest rates

Risk factor: ICRA Limited has rated Hawkins Cooker as MAA (Stable), meaning "high credit quality with low credit risk", according to the official circular by the company. 

How to invest

The company's official website says, "If any eligible entity is interested in investing any amount in our Fixed Deposit Scheme please write to the Company Secretary or Bluechip Corporate Investment Centre Ltd. for an application form at the address given in the circular, or please click here to download the said form." Download the form here

The application form is available at the registered office of the company and on www.hawkinscookers.com. The application form is also available with Bluechip Corporate Investment Centre Ltd., at their office: Bluechip Corporate Investment Centre Ltd., Majithia Chambers, 101, 1st Floor, Abdul Razzak Allana Marg, Fort, Mumbai 400 001. Tel: 2265 9033/34.

You can choose the Unsecured Fixed Deposit Scheme of your choice from - Cumulative Deposits or Non-Cumulative Scheme. The company says, "In the case of investors from Mumbai, application forms duly filled in together with “Account Payee” cheque payable at Mumbai duly crossed and drawn in favour of Hawkins Cookers Ltd. can be handed over at or sent directly to the registered office of the Company or submitted to Bluechip Corporate Investment Centre Ltd. at their address mentioned hereinabove."

"In other cases payment by way of “Account Payee” cheque payable at par at Mumbai duly crossed or Demand Draft payable at Mumbai, drawn in favour of Hawkins Cookers Ltd., should be sent directly to the registered office of the Company," it adds. 

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The company is engaged in the manufacture and marketing of Hawkins, Futura and Miss Mary pressure cookers and Hawkins and Futura cookware. It has manufacturing units for its products at Thane, Hoshiarpur and in Jaunpur District.