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JM Finacial NCD April 2019 vs L&T Finance Ltd. NCD April 2019

Comparision between JM Finacial NCD April 2019 and L&T Finance Ltd. NCD April 2019.

NCD Details

JM Finacial NCD April 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE while L&T Finance Ltd. NCD April 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE, NSE.

  JM Financial Products Limited L&T Finance Ltd.
Logo JM Finacial NCD April 2019 Logo L&T Finance Ltd. NCD April 2019 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)
RHP (Base) RHP RHP
DRHP (Shelf) DRHP (Shelf) DRHP (Shelf)
RHP (Shelf)
NCD Rating

The NCDs proposed to be issued under this Issue have been rated [ICRA]AA by ICRA for an amount of upto Rs 2,000 crores vide its letters dated January 09, 2019 and have been rated "CRISIL AA/STABLE" by CRISIL for an amount upto Rs 2,000 crores vide its letter dated January 03, 2019. The rating of the NCDs by ICRA and CRISIL indicates high degree of safety regarding timely servicing of financial obligations.

The NCDs proposed to be issued under this Issue have been rated '[ICRA] AAA (stable) (pronounced as ICRA triple A with Stable outlook)' for an amount of Rs 5,00,000 lakhs, by ICRA Limited ("ICRA") vide their letter dated December 21, 2018 and revalidated vide revalidation letter dated February 1, 2019 and further revalidated by a revalidation letter dated February 20, 2019, CARE AAA / Stable (pronounced as CARE triple A with Stable Outlook) for an amount of Rs 5,00,000 lakhs, by CARE Ratings Ltd. ("CARE") vide their letter dated December 28, 2018 and revalidated vide revalidation letter dated January 31, 2019 and further revalidated by a revalidation letter dated February 20, 2019 and IND AAA / Stable (pronounced as IND triple A with Stable outlook) for an amount of Rs 5,00,000 lakhs, by India Ratings and Research Private Limited ("India Ratings") vide their letter dated December 31, 2018 and revalidated vide revalidation letter dated January 31, 2019 and further revalidated by a revalidation letter dated February 20, 2019.

Registrar Kfin Technologies Limited Link Intime India Private Ltd
Lead Managers A.K. Capital Services Limited

Jm Financial Limited

Trust Investment Advisors Private Limited
A.K. Capital Services Limited

Axis Bank Limited

Edelweiss Financial Services Ltd

Trust Investment Advisors Private Limited
Debenture Trusties
NRI Allowed No No
Allotment Link Allotment Link

Issue Size and Price and Other Details

Comparison between Issue size, Issue price, Face value, Market lot and other details of the NCDs. JM Finacial NCD April 2019 issue size is ₹1,000.00 Cr at an issue price of ₹1,000.00 per NCD. L&T Finance Ltd. NCD April 2019 issue size is ₹500.00 Cr at a issue price of ₹1,000.00 per NCD.

  JM Financial Products Limited L&T Finance Ltd.
Issue Size (Base) ₹1,000.00 Cr ₹500.00 Cr
Issue Size (Shelf) ₹2,000.00 Cr ₹500.00 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 ICRA AA/Stable, CRISIL AA/Stable ICRA AAA/Stable, CARE AAA/Stable, IND AAA/Stable
Tenor 24 months/ 36 months/ 60 months 37 months/60 months/ 120 months/
Series

Series 1 to Series 6

Series 1 to Series 6

Payment Frequency Monthly/ Annual/ Cumulative Monthly, Annual and Cumulative
Coupon Incentive

NCD Timetable

Offering period of JM Finacial NCD April 2019 and L&T Finance Ltd. NCD April 2019 is mentioned.

  JM Financial Products Limited L&T Finance Ltd.
Bid/Offer Opens On Apr 22, 2019 Apr 08, 2019
Bid/Offer Closes On May 15, 2019 Apr 09, 2019

Shares Offered to Different Investor Category

In JM Finacial NCD April 2019 QIBs portion includes and offered are offered to retail investors. In L&T Finance Ltd. NCD April 2019 QIBs portion includes and offered are offered to retail investors.

  JM Financial Products Limited L&T Finance Ltd.
Institutional
Non Institutional
HNI
Retail
Others
Total 20,00,000 shares 50,00,000 shares

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