ECL Finance Limited is non-banking financial services including financing, money lending, bill discounting, factoring, and corporate lending with or without securities.
ECLFL is one of the leading systemically important non-deposit taking NBFCs, focused on offering a broad suite of secured corporate loan products, retail loan products which are customized to suit the needs of the corporates, SMEs and individuals. The company is a part of the Edelweiss Group which is one of India’s prominent financial services organization having businesses organized around four broad lines – Credit including Retail Finance and debt capital markets; Commodities; Financial Markets including Asset Management and Life Insurance services.
Objects of the Issue:The funds raised through this Issue, after meeting the expenditures of and related to the Issue, will be used for the financing activities including lending and investments, subject to applicable statutory and/or regulatory requirements, to repay their existing loans and their business operations including for their capital expenditure and working capital requirements.
»» Issue Open: Jan 16, 2014 - Jan 27, 2014
»» Issue Type: Fixed Price Issue NCD
»» Issue Size: 2,500,000 NCD's of Rs. 1000
»» Issue Size: Rs. 250.00 Crore
»» Face Value: Rs. 1000 Per NCD
»» Issue Price: Rs. 1000 Per NCD
»» Market Lot: 10 NCD
»» Minimum Order Quantity: 10 NCD
»» Listing At: BSE
NCD RatingIssue is rated as CARE/AA and BWR/AA (stable), which indicates instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations.
ECL Finance NCD Rating
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ECL Finance NCD Messages (ECL Finance NCD Comments)
12% Yearly with AA ratings.. its a good buy all
Mr Subba Rao
Thanks for the information
i have already applied
will i be entitled to higher interest rate in case i buy the share now.
I understand that NCDs bought at IPO stage qualify for higher rate of interest only to persons who are shareholders at the time of applying for NCDs at IPO stage and continue to be shareholders till NCDs are held. This implies that (1) a person who is a NOT a shareholder at the time of applying for NCDs at IPO stage is not eligible for higher rate of interest (2) the person should not cease to be a shareholder till NCDs are held and (3)NCDs bought in secondary market are not eligible for higher rate of interest. So your action in buying shares now will not be of any help
can anybody tell Is it worth to invest in this NCD?
Whoever wants to subscribe to this particular IPO of NCD, may better buy atleast one share of Edelweiss so as to become eligible for 0.25 % additional interest. It is important to remain a Shareholder not only on the date of allotment and but also throughout the period NCD is held