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L&T Finance Ltd. NCD April 2019 vs Sakthi Finance NCD April 2019

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

NCD Details

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

  L&T Finance Ltd. Sakthi Finance Limited
Logo L&T Finance Ltd. NCD April 2019 Logo Sakthi Finance NCD April 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
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 by our Company have been rated by ICRA Limited ("ICRA"). ICRA has vide its letter no. RTG/Chen/109/18-19 dated February 11, 2019, assigned and vide its letter no. Reval/Chen/145/18-19 dated March 25, 2019 revalidated, a rating of "[ICRA] BBB (Stable)" for an amount up to Rs 15,000 lakh for the NCDs. The rating of the NCDs by ICRA indicates moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit
risk.

Registrar Link Intime India Private Ltd S.K.D.C Consultants Limited
Lead Managers A.K. Capital Services Limited

Axis Bank Limited

Edelweiss Financial Services Ltd

Trust Investment Advisors Private Limited
Dalmia Securities 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. L&T Finance Ltd. NCD April 2019 issue size is ₹500.00 Cr at an issue price of ₹1,000.00 per NCD. Sakthi Finance NCD April 2019 issue size is ₹100.00 Cr at a issue price of ₹1,000.00 per NCD.

  L&T Finance Ltd. Sakthi Finance Limited
Issue Size (Base) ₹500.00 Cr ₹100.00 Cr
Issue Size (Shelf) ₹500.00 Cr ₹50.00 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 BBB/Stable
Tenor 37 months/60 months/ 120 months/ 24 months/36 months/48 months/61 months
Series

Series 1 to Series 6

Series 1 to Series 11

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

NCD Timetable

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

  L&T Finance Ltd. Sakthi Finance Limited
Bid/Offer Opens On Apr 08, 2019 Apr 10, 2019
Bid/Offer Closes On Apr 09, 2019 May 09, 2019

Shares Offered to Different Investor Category

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

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

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