[.]| Listing at BSE, NSE | Tue, Jul 24, 2018 - Thu, Jul 26, 2018
ECL Finance Ltd. NCD issue is a public issue of , issued under a Shelf Prospectus of ₹[.] Cr with a base issue size of ₹2,000.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
ECL Finance Ltd. NCD issue opens on Jul 24, 2018 and closes on Jul 26, 2018. NCD are proposed to be listed on NSE and BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 10 NCD(s).
The issue offers interest rates ranging from per annum to per annum, depending on the series and tenure selected.
Axis Bank Ltd. is the Lead Manager to the issue, is the Debenture Trustee, and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the [.] for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Tue, Jul 24, 2018
Close Date
Thu, Jul 26, 2018
Issue Size (Overall)
[.]
The promoter of the company is Edelweiss Financial Services Limited.
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.
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.
[Dilip Davda] Investors looking for steady regular income may consider investment for long term in this AA/Stable rated NCD issue. (Subscribe). Read detail review...
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ECL Finance Ltd.
Edelweiss House,
Off. C.S.T Road,
Kalina, Mumbai 400098
Mumbai, Maharashtra, 400098
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem ECL Finance Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
