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Comparision between ECL Finance NCD Nov 2019 and L&T Finance NCD Dec 2019.
ECL Finance NCD Nov 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE while L&T Finance NCD Dec 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE, NSE.
| ECL Finance Limited | L&T Finance Ltd | |
|---|---|---|
| Logo |  |
 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Listing at | BSE | BSE, NSE |
| Basis of Allotment | First Come First Serve Basis | First Come First Serve Basis |
| DRHP (Base) | DRHP  |
|
| RHP (Base) | ||
| DRHP (Shelf) | DRHP (Shelf) |
|
| RHP (Shelf) | RHP (Shelf) |
RHP (Shelf) |
| NCD Rating | 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. |
The NCDs proposed to be issued under this Issue have been rated "CRISIL AAA/Stable" (pronounced as CRISIL triple A with Stable outlook) for an amount of Rs 5000 crores, by CRISIL Limited ("CRISIL") vide their letter dated November 14, 2019, CARE AAA / Stable (pronounced as CARE triple A with Stable Outlook) for an amount of Rs 5, 000 crores, by CARE Ratings Ltd. ("CARE") vide their letter dated November 15, 2019 and IND AAA / Stable (pronounced as IND triple A with Stable outlook) for an amount of Rs 5,000 crores, by India Ratings and Research Private Limited ("India Ratings") vide their letter dated November 18, 2019. |
| Registrar | Link Intime India Private Ltd | Link Intime India Private Ltd |
| Lead Managers | Axis Bank Limited Edelweiss Financial Services Ltd |
A.K. Capital Services Limited Edelweiss Financial Services Ltd Jm Financial Limited Trust Investment Advisors Private Limited |
| Debenture Trusties | ||
| NRI Allowed | No | No |
| Allotment Link | Allotment Link |
Comparison between Issue size, Issue price, Face value, Market lot and other details of the NCDs. ECL Finance NCD Nov 2019 issue size is ₹100.00 Cr at an issue price of ₹1,000.00 per NCD. L&T Finance NCD Dec 2019 issue size is ₹500.00 Cr at a issue price of ₹1,000.00 per NCD.
| ECL Finance Limited | L&T Finance Ltd | |
|---|---|---|
| Issue Size (Base) | ₹100.00 Cr | ₹500.00 Cr |
| Issue Size (Shelf) | ₹400.00 Cr | ₹5,000.00 Cr |
| Issue Price | ₹1,000.00 per NCD | ₹1,000.00 per NCD |
| Face Value | ₹1,000.00 per NCD | ₹1,000.00 per NCD |
| Minimum Lot size | 10 NCD | 10 NCD |
| Market Lot | 1 NCD | 1 NCD |
| Credit Rating | CARE AA/Positive, CRISIL AA/Stable | CRISIL AAA/Stable, CARE AAA/Stable, IND AAA/Stable |
| Tenor | 24 months/ 39 months/ 60 months/ 120 months | 36 months/ 60 months/ 84 months |
| Series | Series I to Series IX |
Series I to Series VI |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly, Annual and Cumulative |
| Coupon Incentive |
Offering period of ECL Finance NCD Nov 2019 and L&T Finance NCD Dec 2019 is mentioned.
| ECL Finance Limited | L&T Finance Ltd | |
|---|---|---|
| Bid/Offer Opens On | Nov 04, 2019 | Dec 16, 2019 |
| Bid/Offer Closes On | Nov 22, 2019 | Dec 17, 2019 |
In ECL Finance NCD Nov 2019 QIBs portion includes and offered are offered to retail investors. In L&T Finance NCD Dec 2019 QIBs portion includes and offered are offered to retail investors.
| ECL Finance Limited | L&T Finance Ltd | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 10,00,000 shares | 50,00,000 shares |
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