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Comparision between L&T Finance Ltd. NCD April 2019 and Shriram City NCD April 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 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 | ||
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 |
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 |
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 |
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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