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L&T Finance NCD Dec 2019 vs Muthoot Finance NCD Nov 2019

Comparision between L&T Finance NCD Dec 2019 and Muthoot Finance NCD Nov 2019.

NCD Details

L&T Finance NCD Dec 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE, NSE while Muthoot Finance NCD Nov 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE.

  L&T Finance Ltd Muthoot Finance Ltd
Logo L&T Finance NCD Dec 2019 Logo Muthoot Finance NCD Nov 2019 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 DRHP
RHP (Base) RHP
DRHP (Shelf)
RHP (Shelf) RHP (Shelf)
NCD Rating

The NCDs proposed to be issued under this Issue have been rated "CRISIL AAA/Stable" (pronounced as CRISIL triple A with Stable outlook) for an amount of Rs 5000 crores, by CRISIL Limited ("CRISIL") vide their letter dated November 14, 2019, CARE AAA / Stable (pronounced as CARE triple A with Stable Outlook) for an amount of Rs 5, 000 crores, by CARE Ratings Ltd. ("CARE") vide their letter dated November 15, 2019 and IND AAA / Stable (pronounced as IND triple A with Stable outlook) for an amount of Rs 5,000 crores, by India Ratings and Research Private Limited ("India Ratings") vide their letter dated November 18, 2019.

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 A.K. Capital Services Limited

Edelweiss Financial Services Ltd

Jm Financial Limited

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

Edelweiss Financial Services Ltd
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. L&T Finance NCD Dec 2019 issue size is ₹500.00 Cr at an issue price of ₹1,000.00 per NCD. Muthoot Finance NCD Nov 2019 issue size is ₹100.00 Cr at a issue price of ₹1,000.00 per NCD.

  L&T Finance Ltd Muthoot Finance Ltd
Issue Size (Base) ₹500.00 Cr ₹100.00 Cr
Issue Size (Shelf) ₹5,000.00 Cr ₹4,000.00 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 CRISIL AAA/Stable, CARE AAA/Stable, IND AAA/Stable ICRA AA/ Stable, CRISIL AA/ Stable
Tenor 36 months/ 60 months/ 84 months 24 months/ 38 months/ 60 months/ 90 months
Series

Series I to Series VI

Series I to Series X

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

NCD Timetable

Offering period of L&T Finance NCD Dec 2019 and Muthoot Finance NCD Nov 2019 is mentioned.

  L&T Finance Ltd Muthoot Finance Ltd
Bid/Offer Opens On Dec 16, 2019 Nov 29, 2019
Bid/Offer Closes On Dec 17, 2019 Dec 20, 2019

Shares Offered to Different Investor Category

In L&T Finance NCD Dec 2019 QIBs portion includes and offered are offered to retail investors. In Muthoot Finance NCD Nov 2019 QIBs portion includes and offered are offered to retail investors.

  L&T Finance Ltd Muthoot Finance Ltd
Institutional
Non Institutional
HNI
Retail
Others
Total 50,00,000 shares 10,00,000 shares

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