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Comparision between L&T Finance NCD Dec 2019 and Shriram Transport Finance NCD Jan 2020.
L&T Finance NCD Dec 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE, NSE while Shriram Transport Finance NCD Jan 2020 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE, NSE.
| L&T Finance Ltd | Shriram Transport Finance Company Ltd | |
|---|---|---|
| Logo |  |
 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Listing at | BSE, NSE | BSE, NSE |
| Basis of Allotment | First Come First Serve Basis | First Come First Serve Basis |
| DRHP (Base) | 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 'CARE AA+; Stable' by CARE Ratings Limited ("CARE") for an amount of up to Rs 10,00,000 lacs vide its letter dated June 28, 2019, and revalidated by its letter dated December 18, 2019, 'CRISIL AA+/Stable' by CRISIL Limited ("CRISIL") for an amount of up to Rs 10,00,000 lacs vide its letter dated June 26, 2019, and revalidated by its letter dated December 12, 2019, and 'IND AA+; Outlook Stable' by India Ratings and Research Private Limited ("India Ratings") for an amount of up to Rs 10,00,000 lacs vide its letter dated June 25, 2019, and revalidated by its letter dated December 11, 2019. The rating of the NCDs by CARE, CRISIL and India Ratings indicate that instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk. |
| Registrar | Link Intime India Private Ltd | Integrated Registry Management Services Private Limited |
| Lead Managers | A.K. Capital Services Limited Edelweiss Financial Services Ltd Jm Financial Limited Trust Investment Advisors Private Limited |
A.K. Capital Services Limited Jm Financial Limited Smc Capitals 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 NCD Dec 2019 issue size is ₹500.00 Cr at an issue price of ₹1,000.00 per NCD. Shriram Transport Finance NCD Jan 2020 issue size is ₹200.00 Cr at a issue price of ₹1,000.00 per NCD.
| L&T Finance Ltd | Shriram Transport Finance Company Ltd | |
|---|---|---|
| Issue Size (Base) | ₹500.00 Cr | ₹200.00 Cr |
| Issue Size (Shelf) | ₹5,000.00 Cr | ₹10,000.00 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 | CARE AA+ /Stable, IND AA+ /Stable, CARE AA+ /Stable |
| Tenor | 36 months/ 60 months/ 84 months | Annual, Cumulative, and Monthly |
| Series | Series I to Series VI |
Series I to Series VIII |
| Payment Frequency | Monthly, Annual and Cumulative | 3 Years/5 Years/7 Years |
| Coupon Incentive |
Offering period of L&T Finance NCD Dec 2019 and Shriram Transport Finance NCD Jan 2020 is mentioned.
| L&T Finance Ltd | Shriram Transport Finance Company Ltd | |
|---|---|---|
| Bid/Offer Opens On | Dec 16, 2019 | Jan 06, 2020 |
| Bid/Offer Closes On | Dec 17, 2019 | Jan 22, 2020 |
In L&T Finance NCD Dec 2019 QIBs portion includes and offered are offered to retail investors. In Shriram Transport Finance NCD Jan 2020 QIBs portion includes and offered are offered to retail investors.
| L&T Finance Ltd | Shriram Transport Finance Company Ltd | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 50,00,000 shares | 20,00,000 shares |
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