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Comparision between L&T Finance Ltd. NCD April 2019 and Muthoottu Mini Financiers 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 Muthoottu Mini Financiers NCD March 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE.
| L&T Finance Ltd. | Muthoottu Mini Financiers 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) | ||
| 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 have been rated 'IND BBB-/Stable' by India Ratings & Research Private Limited for an amount of up to ` 20,000 lakhs. The rating of the NCDs indicates that instruments with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate 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 |
Vivro Financial Services Private Limited |
| Debenture Trusties | ||
| NRI Allowed | No | No |
| 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. Muthoottu Mini Financiers NCD March 2019 issue size is ₹100.00 Cr at a issue price of ₹1,000.00 per NCD.
| L&T Finance Ltd. | Muthoottu Mini Financiers Limited | |
|---|---|---|
| Issue Size (Base) | ₹500.00 Cr | ₹100.00 Cr |
| Issue Size (Shelf) | ₹500.00 Cr | ₹100.00 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 | IND BBB-/Stable |
| Tenor | 37 months/60 months/ 120 months/ | 480 days/36 Months/60 Months |
| Series | Series 1 to Series 6 |
Series 1 to Series 6 |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly and Cumulative |
| Coupon Incentive |
Offering period of L&T Finance Ltd. NCD April 2019 and Muthoottu Mini Financiers NCD March 2019 is mentioned.
| L&T Finance Ltd. | Muthoottu Mini Financiers Limited | |
|---|---|---|
| Bid/Offer Opens On | Apr 08, 2019 | Mar 18, 2019 |
| Bid/Offer Closes On | Apr 09, 2019 | Apr 16, 2019 |
In L&T Finance Ltd. NCD April 2019 QIBs portion includes and offered are offered to retail investors. In Muthoottu Mini Financiers NCD March 2019 QIBs portion includes and offered are offered to retail investors.
| L&T Finance Ltd. | Muthoottu Mini Financiers Limited | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 50,00,000 shares | 10,00,000 shares |
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