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L&T Finance Ltd. NCD April 2019 vs Shriram City NCD April 2019

Comparision between L&T Finance Ltd. NCD April 2019 and Shriram City 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 Shriram City NCD April 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE.

  L&T Finance Ltd. Shriram City Union Finance Limited
Logo L&T Finance Ltd. NCD April 2019 Logo Shriram City 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)
RHP (Base) RHP RHP
DRHP (Shelf) 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 the Issue have been rated 'CARE AA+ Stable' (Double A Plus; Outlook: Stable) by CARE and 'CRISIL AA/Stable' (pronounced as CRISIL double A rating with Stable outlook) by CRISIL for an amount of upto 30,000 million vide their letters dated December 11, 2018 (and revalidated on February 14, 2019) and December 6, 2018 (and revalidated on February 19, 2019) respectively. The rating of the NCDs by CARE and CRISIL are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Registrar Link Intime India Private Ltd Integrated Registry Management Services Private Limited
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

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. Shriram City NCD April 2019 issue size is ₹750.00 Cr at a issue price of ₹1,000.00 per NCD.

  L&T Finance Ltd. Shriram City Union Finance Limited
Issue Size (Base) ₹500.00 Cr ₹750.00 Cr
Issue Size (Shelf) ₹500.00 Cr ₹3,000.00 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 CARE AA+/Stable, CRISIL AA/Stable
Tenor 37 months/60 months/ 120 months/ 24 months/ 36 months/ 60 months
Series

Series 1 to Series 6

Series 1 to Series 8

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 Shriram City NCD April 2019 is mentioned.

  L&T Finance Ltd. Shriram City Union Finance Limited
Bid/Offer Opens On Apr 08, 2019 Apr 05, 2019
Bid/Offer Closes On Apr 09, 2019 May 03, 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 Shriram City NCD April 2019 QIBs portion includes and offered are offered to retail investors.

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

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