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Comparision between ECL Finance NCD Nov 2019 and Muthoot Finance NCD Sep 2019.
ECL Finance NCD Nov 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE while Muthoot Finance NCD Sep 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE.
| ECL Finance Limited | Muthoot Finance Limited | |
|---|---|---|
| Logo |  |
 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Listing at | BSE | BSE |
| Basis of Allotment | First Come First Serve Basis | First Come First Serve Basis |
| DRHP (Base) | ||
| RHP (Base) | ||
| DRHP (Shelf) | 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 [ICRA] AA (Stable) by ICRA for an amount of upto Rs 40,000 million vide its letter dated December 31, 2018 and have been rated CRISIL AA/Stable by CRISIL for an amount upto Rs 40,000 million vide its letter dated January 18, 2019. The rating of the NCDs by ICRA and CRISIL indicates high degree of safety regarding timely servicing of financial obligations. |
| 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 |
| 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. Muthoot Finance NCD Sep 2019 issue size is ₹100.00 Cr at a issue price of ₹1,000.00 per NCD.
| ECL Finance Limited | Muthoot Finance Limited | |
|---|---|---|
| Issue Size (Base) | ₹100.00 Cr | ₹100.00 Cr |
| Issue Size (Shelf) | ₹400.00 Cr | ₹900.00 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 | ICRA AA/Stable, CRISIL AA/Stable |
| Tenor | 24 months/ 39 months/ 60 months/ 120 months | 24 months/ 38 months/ 60 months/ 90 months |
| Series | Series I to Series IX |
Series I to Series X |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly and Annual |
| Coupon Incentive |
Offering period of ECL Finance NCD Nov 2019 and Muthoot Finance NCD Sep 2019 is mentioned.
| ECL Finance Limited | Muthoot Finance Limited | |
|---|---|---|
| Bid/Offer Opens On | Nov 04, 2019 | Sep 27, 2019 |
| Bid/Offer Closes On | Nov 22, 2019 | Oct 25, 2019 |
In ECL Finance NCD Nov 2019 QIBs portion includes and offered are offered to retail investors. In Muthoot Finance NCD Sep 2019 QIBs portion includes and offered are offered to retail investors.
| ECL Finance Limited | Muthoot Finance Limited | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 10,00,000 shares | 10,00,000 shares |
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