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Comparision between L&T Finance NCD March 2019 and Muthoot Finance NCD (Feb 2019).
L&T Finance NCD March 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE, NSE while Muthoot Finance NCD (Feb 2019) is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE.
| L&T 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, NSE | BSE |
| Basis of Allotment | First Come First Serve Basis | First Come First Serve Basis |
| DRHP (Base) | DRHP  |
|
| RHP (Base) | RHP |
RHP |
| 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"), 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. |
The NCDs proposed to be issued under this Issue have been rated [ICRA] AA (Stable) by ICRA for an amount of up to Rs 40,000 million and have been rated CRISIL AA/Stable by CRISIL for an amount up to Rs 40,000 million. The rating of the NCDs by ICRA and CRISIL indicates a high degree of safety regarding timely servicing of financial obligations. |
| 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 Edelweiss Financial Services Ltd |
| 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 NCD March 2019 issue size is ₹500.00 Cr at an issue price of ₹1,000.00 per NCD. Muthoot Finance NCD (Feb 2019) issue size is ₹100.00 Cr at a issue price of ₹1,000.00 per NCD.
| L&T Finance Limited | Muthoot Finance Limited | |
|---|---|---|
| Issue Size (Base) | ₹500.00 Cr | ₹100.00 Cr |
| Issue Size (Shelf) | ₹1,000.00 Cr | ₹650.00 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 AA/Stable, CRISIL AA/Stable |
| Tenor | 37 months, 60 months and 120 months | 24 Months, 38 Months and 60 Months |
| Series | Series 1 to Series 6 |
Series I to Series IX |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly, Annual and Cumulative |
| Coupon Incentive |
Offering period of L&T Finance NCD March 2019 and Muthoot Finance NCD (Feb 2019) is mentioned.
| L&T Finance Limited | Muthoot Finance Limited | |
|---|---|---|
| Bid/Offer Opens On | Mar 06, 2019 | Feb 14, 2019 |
| Bid/Offer Closes On | Mar 07, 2019 | Mar 14, 2019 |
In L&T Finance NCD March 2019 QIBs portion includes and offered are offered to retail investors. In Muthoot Finance NCD (Feb 2019) QIBs portion includes and offered are offered to retail investors.
| L&T Finance Limited | Muthoot Finance Limited | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total |
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