ECL Finance Limited NCD (ECL Finance NCD Nov 2019) Detail

Nov 4, 2019 - Nov 22, 2019
ECL Finance Limited Logo

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

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ECL Finance NCD Nov 2019 Detail

Issue Open Nov 4, 2019 - Nov 22, 2019
Security Name ECL Finance Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 100.00 Crores
Issue Size (Shelf) Rs 400.00 Crores
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 1 NCD
Listing At BSE
Credit Rating CARE AA/Positive, CRISIL AA/Stable
Tenor 24 months/ 39 months/ 60 months/ 120 months

Series I to Series IX

Payment Frequency Monthly, Annual and Cumulative
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

Category ? NCD's Allocated
Category 1 0%
Category 2 0%
Category 3 0%
Category 4 0%

NCD's Offered by Category

Category ? NCD's Reserved
Category 1 200,000
Category 2 200,000
Category 3 300,000
Category 4 300,000
Total NCD's 1,000,000

Coupon rates for series 1 to 9

  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7 Series 8 Series 9
Frequency of Interest Payment Annually Cumulative Annually Cumulative Monthly Annually Cumulative Monthly Annually
Tenor 24 months 24 months 39 months 39 months 60 months 60 months 60 months 120 months 120 months
Coupon Rate 9.90% NA 10.20% NA 9.95% 10.40% NA 9.95% 10.40%
Amount on Maturity Rs 1,000 Rs 1,208 Rs 1,000 Rs 1,371 Rs 1,000 Rs 1,000 Rs 1,641 Rs 1,000 Rs 1,000

NCD Rating

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 Rs 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 Rs 20,000 million, by CRISIL Limited vide their letter dated April 18, 2019. The rating of "CARE AA; Positive" by CARE Ratings Limited and "CRISIL AA/Stable" by CRISIL Limited indicate that instruments with these ratings are considered to have a high degree of safety regarding timely servicing of financial obligations.

Company Promoters

Edelweiss Financial Services Limited is the promoter of the company.

Objects of the Issue

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.

ECL Finance NCD Nov 2019 Prospectus

ECL Finance NCD Nov 2019 Subscription Status

The ECL Finance NCD Nov 2019 is subscribed 5.16x times on Nov 22, 2019 7:30:00 PM. The ncd subscribed 5.86x times in the retail category, 0.00x times in the QIB category, and 5.95x times in the NII category.

Category ?Subscription (times)
Category 1 (QIB)0.00x
Category 2 (NII)5.95x
Category 35.86x
Category 47.37x

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ECL Finance NCD Nov 2019 Rating

Rating:Rated 3.6 stars
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ECL Finance NCD Nov 2019 Listing Date

  •   ›  Listing Date: Monday, December 2, 2019
  •   ›  BSE Script Code:
  •   ›  NSE Symbol:
  •   ›  Listing In:
  •   ›  ISIN:
  •   ›  Issue Price:
  •   ›  Face Value: Rs 1000 each NCD

ECL Finance NCD Nov 2019 Reviews

Company Contact Information

ECL Finance Limited
Edelweiss House,
Off. C.S.T Road, Kalina,
Mumbai 400098, Maharashtra, India

Phone: +91 22 4009 4400

ECL Finance NCD Nov 2019 Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270

ECL Finance NCD Nov 2019 Lead Manager(s)