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Comparision between ECL Finance NCD Nov 2019 and Muthoot Fincorp Limited NCD Sept 2019.
ECL Finance NCD Nov 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE while Muthoot Fincorp Limited NCD Sept 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE.
| ECL Finance Limited | Muthoot Fincorp 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) | DRHP  |
|
| RHP (Base) | RHP |
|
| DRHP (Shelf) | DRHP (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 "BWR A+" (BWR A plus; Outlook: Stable)' for an amount of Rs 50,000 lakhs , by Brickwork Ratings India Private Limited ("Brickworks") vide their letter dated August 23, 2019. The rating of BWR A+ by Brickworks indicate that instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations and carry lowest credit risk. |
| Registrar | Link Intime India Private Ltd | Integrated Registry Management Services Private Limited |
| Lead Managers | Axis Bank Limited Edelweiss Financial Services Ltd |
Smc Capitals Limited |
| Debenture Trusties | ||
| NRI Allowed | No | No |
| 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 Fincorp Limited NCD Sept 2019 issue size is ₹250.00 Cr at a issue price of ₹1,000.00 per NCD.
| ECL Finance Limited | Muthoot Fincorp Limited | |
|---|---|---|
| Issue Size (Base) | ₹100.00 Cr | ₹250.00 Cr |
| Issue Size (Shelf) | ₹400.00 Cr | ₹250.00 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 | BWR A+/ Stable by Brickworks |
| Tenor | 24 months/ 39 months/ 60 months/ 120 months | 400 days/24 months/36 months |
| Series | Series I to Series IX |
Series I to Series VIII |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly, Annual and Cumulative |
| Coupon Incentive |
Offering period of ECL Finance NCD Nov 2019 and Muthoot Fincorp Limited NCD Sept 2019 is mentioned.
| ECL Finance Limited | Muthoot Fincorp Limited | |
|---|---|---|
| Bid/Offer Opens On | Nov 04, 2019 | Sep 20, 2019 |
| Bid/Offer Closes On | Nov 22, 2019 | Oct 18, 2019 |
In ECL Finance NCD Nov 2019 QIBs portion includes and offered are offered to retail investors. In Muthoot Fincorp Limited NCD Sept 2019 QIBs portion includes and offered are offered to retail investors.
| ECL Finance Limited | Muthoot Fincorp Limited | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 10,00,000 shares | 25,00,000 shares |
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