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Incorporated in 2005, Mumbai based ECL Finance Limited is a leading systemically important non-deposit taking NBFCs. The company is a part of the Edelweiss Group, one of India's prominent financial services organization.
The company is focused on offering a wide range of secured corporate and retail loan products to corporates, SMEs and individuals.
The company's loan product portfolio includes-
1. Structured Collateralised Credit
2. Wholesale Mortgages
3. SMEs and others
4. Loans against securities
5. Retail Mortgages
6. Agri Credit
ECL's income from operations grew at a CAGR of 39.32% from Rs 8,122.76 million in 2014 to Rs 30,600.27 million in 2018. The PAT grew at a CAGR of 30.35% from Rs 1,600.44 million in 2014 to Rs 4,620.47 million in 2018. The loan book grew by 37.84% from Rs 60,959.79 million in 2014 to Rs 220,081.23 million in 2018.
Key Strengths of the Company-
1. Established brand as a part of Edelweiss Group
2. Wide network with over 100 branches across India
3. Track record of high growth and profitability
4. Secured loan book with good asset quality
| Issue Open | November 4, 2019 - November 22, 2019 |
| Security Name | ECL Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Shelf) | Rs 400.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | CARE AA/Positive, CRISIL AA/Stable |
| Tenor | 24 months/ 39 months/ 60 months/ 120 months |
| Series | Series I to Series IX |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Category 1 | 0% |
| Category 2 | 0% |
| Category 3 | 0% |
| Category |
NCD's Reserved |
|---|---|
| Category 1 | 200,000 |
| Category 2 | 200,000 |
| Category 3 | 300,000 |
| Category 4 | 300,000 |
| Total NCD's | 1,000,000 |
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | |
|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annually | Cumulative | Annually | Cumulative | Monthly | Annually | Cumulative | Monthly | Annually |
| Tenor | 24 months | 24 months | 39 months | 39 months | 60 months | 60 months | 60 months | 120 months | 120 months | Coupon Rate | 9.90% | NA | 10.20% | NA | 9.95% | 10.40% | NA | 9.95% | 10.40% |
| Amount on Maturity | Rs 1,000 | Rs 1,208 | Rs 1,000 | Rs 1,371 | Rs 1,000 | Rs 1,000 | Rs 1,641 | Rs 1,000 | Rs 1,000 |
The NCDs proposed to be issued under this Issue have been rated "CARE AA; Positive" (pronounced as CARE AA with Positive outlook) for an amount of Rs 20,000 million, by CARE Ratings Limited vide their letter dated April 10, 2019 and "CRISIL AA/Stable" (pronounced as CRISIL double A rating with Stable outlook) for an amount of Rs 20,000 million, by CRISIL Limited vide their letter dated April 18, 2019. The rating of "CARE AA; Positive" by CARE Ratings Limited and "CRISIL AA/Stable" by CRISIL Limited indicate that instruments with these ratings are considered to have a high degree of safety regarding timely servicing of financial obligations.
Edelweiss Financial Services Limited is the promoter of the company.
The company proposes to utilise the funds for following objects:
1. For the purpose of onward lending and for repayment of interest and principal of existing loans; and
2. For general corporate purposes.
The ECL Finance NCD Nov 2019 was subscribed 5.16 times on November 22, 2019 7:30:00 PM. The NCD subscribed .
| Category ? | Subscription (times) |
|---|---|
| Category 4 | 7.37x |
| Category 3 | 5.86x |
| Category 2 (NII) | 5.95x |
| Category 1 (QIB) | 0.00x |
| Total | 5.16x |
16 3.6 Rating:  Vote Here ... |
ECL Finance Limited
Edelweiss House,
Off. C.S.T Road, Kalina,
Mumbai 400098, Maharashtra, India
Phone: +91 22 4009 4400
Email: eclfdebtipo@edelweissfin.com
Website: https://eclfinance.edelweissfin.com/
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: eclapr2019.ncd@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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