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Comparision between L&T Finance Ltd. NCD April 2019 and L&T Finance NCD March 2019.
L&T Finance Ltd. NCD April 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE, NSE while L&T Finance NCD March 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE, NSE.
| L&T Finance Ltd. | L&T Finance Limited | |
|---|---|---|
| Logo |  |
 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Listing at | BSE, NSE | BSE, NSE |
| Basis of Allotment | First Come First Serve Basis | First Come First Serve Basis |
| DRHP (Base) | DRHP  |
|
| RHP (Base) | RHP |
RHP |
| DRHP (Shelf) | DRHP (Shelf) |
|
| RHP (Shelf) | ||
| NCD Rating | 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. |
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"), 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") 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"). The rating of NCDs by ICRA, CARE and India Ratings indicate that instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations and carry lowest credit risk. |
| Registrar | Link Intime India Private Ltd | Link Intime India Private Ltd |
| Lead Managers | A.K. Capital Services Limited Axis Bank Limited Edelweiss Financial Services Ltd 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 |
Allotment Link |
Comparison between Issue size, Issue price, Face value, Market lot and other details of the NCDs. L&T Finance Ltd. NCD April 2019 issue size is ₹500.00 Cr at an issue price of ₹1,000.00 per NCD. L&T Finance NCD March 2019 issue size is ₹500.00 Cr at a issue price of ₹1,000.00 per NCD.
| L&T Finance Ltd. | L&T Finance Limited | |
|---|---|---|
| Issue Size (Base) | ₹500.00 Cr | ₹500.00 Cr |
| Issue Size (Shelf) | ₹500.00 Cr | ₹1,000.00 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 | ICRA AAA/Stable, CARE AAA/Stable, IND AAA/Stable | ICRA AAA/Stable, CARE AAA/Stable, IND AAA/Stable |
| Tenor | 37 months/60 months/ 120 months/ | 37 months, 60 months and 120 months |
| Series | Series 1 to Series 6 |
Series 1 to Series 6 |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly, Annual and Cumulative |
| Coupon Incentive |
Offering period of L&T Finance Ltd. NCD April 2019 and L&T Finance NCD March 2019 is mentioned.
| L&T Finance Ltd. | L&T Finance Limited | |
|---|---|---|
| Bid/Offer Opens On | Apr 08, 2019 | Mar 06, 2019 |
| Bid/Offer Closes On | Apr 09, 2019 | Mar 07, 2019 |
In L&T Finance Ltd. NCD April 2019 QIBs portion includes and offered are offered to retail investors. In L&T Finance NCD March 2019 QIBs portion includes and offered are offered to retail investors.
| L&T Finance Ltd. | L&T Finance Limited | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 50,00,000 shares |
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