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L&T Finance Ltd. NCD (L&T Finance Ltd. NCD April 2019) Detail

Apr 8, 2019 - Apr 9, 2019

L&T Financial Ltd is a non-banking financial service company. It is a part of L&T group which started financial services business in 1994. L&T Financial Ltd works in the three main segments which are wholesale, rural and housing.

In rural business, it provides microloans, two-wheeler financing facility and farm equipment financing services. As on 31st Dec 2018, the advances and adjusted loans were Rs 24,122.27 cr in rural business.

In the wholesale business, the company offers structured corporate finance and infrastructure finance. Previously the company was providing supply chain business but it was transferred to Centrum Financial Services Ltd. Now, the company only provides some portfolio maintenance activities in supply chain finance to Centrum.

In the housing business, it provides loans against real estate and property finance. The company has a PAN India presence with 223 branches across 21 states and 3 UTs.

The strengths of the company are:
1. Diversified businesses
2. Strong loan procedures
3. Strong risk management framework
4. Brand recognition

L&T Finance Ltd. NCD April 2019 Detail

Issue OpenApr 8, 2019 - Apr 9, 2019
Security NameL&T Finance Ltd.
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)Rs 500.00 Crores
Issue Size (Shelf)Rs 500.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE, NSE
Credit RatingICRA AAA (stable), CARE AAA (Stable), IND AAA / Stable
Tenor37 months/60 months/ 120 months/
Series

Series 1 to Series 6

Payment FrequencyMonthly, Annual and Cumulative
Basis of AllotmentPriority Basis

NCD Allocation Ratio

NCD's allocated in each investor category:

Category NCD's Allocated
Category 1 (QIB)10%
Category 2 (NII)10%
Category 3 (HNI)35%
Category 4 (RII)45%

NCD's Offered

NCD's offered in each investor category:

Category NCD's Reserved
Category 1 (QIB)500,000
Category 2 (NII)500,000
Category 3 (HNI)1,750,000
Category 4 (RII)2,250,000
Total NCD's5,000,000

Coupon Rates

Coupon Rates for Eash Series

  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6
Frequency of Interest Payment Annually NA Annually Monthly Annually Monthly
Tenor 37 months 37 months 60 months 60 months 120 months 120 months
Coupon Rate (Retail) For Category I & II/ for III & IV 9.00%/9.10% NA 9.10%/9.25% 8.75%/8.89% 9.20%/9.35% 8.84%/8.98%
Amount on Maturity For Category I & II/ for III & IV ₹1,000 ₹1,304.93/₹1,308.64 ₹1,000 ₹1,000 ₹1,000 ₹1,000

NCD Rating Detail

The NCDs proposed to be issued under this Issue have been rated '[ICRA] AAA (stable) (pronounced as ICRA triple A with Stable outlook)' for an amount of ₹ 5,00,000 lakhs, by ICRA Limited ("ICRA") vide their letter dated December 21, 2018 and revalidated vide revalidation letter dated February 1, 2019 and further revalidated by a revalidation letter dated February 20, 2019, CARE AAA / Stable (pronounced as CARE triple A with Stable Outlook) for an amount of ₹ 5,00,000 lakhs, by CARE Ratings Ltd. ("CARE") vide their letter dated December 28, 2018 and revalidated vide revalidation letter dated January 31, 2019 and further revalidated by a revalidation letter dated February 20, 2019 and IND AAA / Stable (pronounced as IND triple A with Stable outlook) for an amount of ₹ 5,00,000 lakhs, by India Ratings and Research Private Limited ("India Ratings") vide their letter dated December 31, 2018 and revalidated vide revalidation letter dated January 31, 2019 and further revalidated by a revalidation letter dated February 20, 2019.

Company Promoters

The promoter of the company is L&T Finance Holdings Limited.

Objects of the Issue:

Objects of the issue are:

1. The Company proposes to utilise the funds which are being raised through the Issue, after deducting the Issue related expenses to the extent payable by the Company ("Net Proceeds"). For the purpose of onward lending, financing, refinancing the existing indebtedness of the Company (payment of interest and/or repayment/prepayment of principal of borrowings); and

2. General corporate purposes.

NCD Public Issue Closes Early

The L&T Finance NCD which was suppose to close on April 18th is subscribed in a day. NCD public issue will now close on April 9th 2019.

L&T Finance Ltd. NCD April 2019 Prospectus

L&T Finance Ltd. NCD April 2019 Rating

30
4.8
Rating:Rated 4.8 stars

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L&T Finance Ltd. NCD April 2019 Reviews

Company Contact Information

L&T Finance Ltd.
Technopolis, 7th Floor,
A- Wing, Plot No. - 4, Block - BP, Sector -V,
Salt Lake, Kolkata 700 091

Phone: 033-66111800
Email: investorgrievances@ltfs.com
Website: https://www.ltfs.com

L&T Finance Ltd. NCD April 2019 Registrar


   
   
   

Phone:
Email: ncd.ltfin2019@linkintime.co.in
Website: http://

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L&T Finance Ltd. NCD April 2019 Review / Comments

avatar
4. Marudhanayagam  Apr 15, 2019 15:23 Reply
applied for 100 and got 37....hmm..not great...
avatar
4.1. Iposuggestion  Apr 16, 2019 10:47
Applied 200 and got nil..
avatar
4.2. deb  Apr 18, 2019 09:06
I too applied on very first day ...Applied 81 got 37 ...

Any idea when Axis bank will release my funds ..I applied via Axis bank IPO and still amount is in lien account ..still not released
avatar
3. Jaspreet Singh Oberoi  Apr 15, 2019 10:48 Reply
Money deducted and rest of the funds unblocked SMS received in the morning. Seems not a firm allotment for retail even on subscribing on first day.
avatar
2. GrowYourMoney  Apr 10, 2019 10:05 Reply
Unbelievable response to issue..
May be due to last issue listed at Premium
avatar
1. Jaspreet Singh Oberoi  Apr 9, 2019 08:28 Reply
Issue closing on 9th April



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