Incorporated in 2005, Mumbai based ECL Finance Limited is a leading non-deposit taking NBFC that offers a wide range of corporate and retail loan products. The company's product portfolio includes:
1. Structured Collateralised Credit: It constitutes 25.15% of the total loan book as of March 31, 2018.
2. Wholesale Mortgages: This constitutes 35.46 % of the total loan book of the company as of March 31, 2018.
3. SMEs and others: It constitutes 7.70 % of the total loan book as of March 31, 2018.
4. Loans against securities: It constitutes 21.00 % of the total loan book as of March 31, 2018.
5. Retail Mortgages - It constitutes 6.67 % of the total loan book as of March 31, 2018.
6. Agri Credit: It constitutes 4.02 % of the Company's total loan book as of March 31, 2018.
ECL Finance is a part of the Edelweiss Group, one of prominent financial services organization in India. Edelweiss business is organized around three broad lines - credit including retail finance; franchise & advisory businesses including wealth management, asset management, capital markets, balance sheet management and others, and insurance.
As on March 31, 2018, Edelweiss Group along with three of its subsidiaries held 100% of the paid-up share capital of the company. ECL Finance has a total of 102 branches spread across the country.
The company's total income and profit after tax (PAT) for 2018 was Rs 30,600.27 million and Rs 4,620.47 million, respectively.
|Issue Open||Jul 24, 2018 - Jul 26, 2018|
|Security Name||ECL Finance Ltd|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)|
|Issue Size (Base)||Rs 2,000.00 Crores|
|Issue Size (Shelf)||Rs [.] Crores|
|Issue Price||Rs 1000 per NCD|
|Face Value||Rs 1000 each NCD|
|Minimum Lot size||10 NCD|
|Market Lot||10 NCD|
|Listing At||BSE, NSE|
|Basis of Allotment|
|High Net Worth Individual Investors Portion|
|Retail Individual Investors Portion|
The promoter of the company is Edelweiss Financial Services Limited.
The objects of the issue are-
1. For the purpose of onward lending and for repayment of interest and principal of existing loans; and
2. General Corporate Purposes.
This issue is graded as CRISIL AA and ICRA AA (Stable), indicating a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
The company is offering tenure of 36 months, 60 months and 120 months with interest payment option on Monthly, Annually or Cumulative basis as per the choice of investors. The coupon rate is ranging from 9.25% to 9.85% depending on the selection of investors.
The public issue was suppose to close on 16 Aug but as the issue fully subscribed in just 2 days, issue closed on 26 Jul 2018.
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