Incorporated in 2005, Mumbai based ECL Finance Limited is a leading systemically important non-deposit taking NBFCs. The company is a part of the Edelweiss Group, one of India's prominent financial services organization.
The company is focused on offering a wide range of secured corporate and retail loan products to corporates, SMEs and individuals.
The company's loan product portfolio includes-
1. Structured Collateralised Credit
2. Wholesale Mortgages
3. SMEs and others
4. Loans against securities
5. Retail Mortgages
6. Agri Credit
ECL's income from operations grew at a CAGR of 39.32% from Rs 8,122.76 million in 2014 to Rs 30,600.27 million in 2018. The PAT grew at a CAGR of 30.35% from Rs 1,600.44 million in 2014 to Rs 4,620.47 million in 2018. The loan book grew by 37.84% from Rs 60,959.79 million in 2014 to Rs 220,081.23 million in 2018.
Key Strengths of the Company-
1. Established brand as a part of Edelweiss Group
2. Wide network with over 100 branches across India
3. Track record of high growth and profitability
4. Secured loan book with good asset quality
|Issue Open||May 10, 2019 - May 17, 2019|
|Security Name||ECL Finance Limited|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)|
|Issue Size (Base)||Rs 300.00 Crores|
|Issue Size (Shelf)||Rs 2,000.00 Crores|
|Issue Price||Rs 1000 per NCD|
|Face Value||Rs 1000 each NCD|
|Minimum Lot size||10 NCD|
|Market Lot||1 NCD|
|Credit Rating||CARE AA (Positive); CRISIL AA/Stable;|
|Tenor||39 Months/ 2 Years/ 5 Years/ 10 Years|
Series I to Series IX
|Payment Frequency||Monthly, Annual and Cumulative|
|Basis of Allotment||Priority Basis|
NCD's allocated in each investor category:
|Category 1 (QIB)||0%|
|Category 2 (NII)||0%|
|Category 3 (HNI)||0%|
|Category 4 (RII)||0%|
|Series 1||Series 2||Series 3||Series 4||Series 5||Series 6||Series 7||Series 8||Series 9|
|Frequency of Interest Payment||Annual||Cumulative||Annual||Cumulative||Monthly||Annual||Cumulative||Monthly||Annual|
|Tenor||24 months||24 months||39 months||39 months||60 months||60 months||60 months||120 months||120 months|
|Amount on Maturity||₹1,000||₹1,208.11||₹1,000||₹1,371.81||₹1,000||₹1,000||₹1,640.90||₹1,000||₹1,000|
The NCDs proposed to be issued under this Issue have been rated "CARE AA; Positive" (pronounced as CARE AA with Positive outlook) for an amount of ₹20,000 million, by CARE Ratings Limited vide their letter dated April 10, 2019 and "CRISIL AA/Stable" (pronounced as CRISIL double A rating with Stable outlook) for an amount of ₹20,000 million, by CRISIL Limited vide their letter dated April 18, 2019.
Edelweiss Financial Services Limited is the promoter of the company.
The Company proposes to utilise the funds for following objects:
1. For the purpose of onward lending and for repayment of interest and principal of existing loans; and
2. For general corporate purposes.
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ECL Finance Limited
Off. C.S.T Road, Kalina,
Mumbai 400098, Maharashtra
Phone: +91 22 4009 4400
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