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L&T Finance Ltd NCD (L&T Finance NCD Dec 2019) Detail

Dec 16, 2019 - Dec 17, 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 NCD Dec 2019 Detail

Issue OpenDec 16, 2019 - Dec 17, 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 5,000.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE, NSE
Credit RatingCRISIL AAA/Stable, CARE AAA/Stable, IND AAA/Stable
Tenor36 months/ 60 months/ 84 months
Series

Series I to Series VI

Payment FrequencyMonthly, Annual and Cumulative
Basis of AllotmentFirst Come First Serve 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 Monthly NA Monthly Annually Monthly Annually
Tenor 36 Months 36 Months 36 Months 60 Months 60 Months 84 Months
Coupon Rate (Retail) for Category I & II 8.25% NA 7.96% 8.45% 8.15% 8.50%
Coupon Rate (Retail) for Category III & IV 8.45% NA 8.15% 8.60% 8.29% 8.65%
Amount on Maturity for Category I & II ₹1,000 ₹1,268.76 ₹1,000 ₹1,000 ₹1,000 ₹1,000
Amount on Maturityfor Category III & IV ₹1,000 ₹1,275.81 ₹1,000 ₹1,000 ₹1,000 ₹1,000

NCD Rating Detail

The NCDs proposed to be issued under this Issue have been rated "CRISIL AAA/Stable" (pronounced as CRISIL triple A with Stable outlook) for an amount of ₹ 5000 crores, by CRISIL Limited ("CRISIL") vide their letter dated November 14, 2019, CARE AAA / Stable (pronounced as CARE triple A with Stable Outlook) for an amount of ₹ 5, 000 crores, by CARE Ratings Ltd. ("CARE") vide their letter dated November 15, 2019 and IND AAA / Stable (pronounced as IND triple A with Stable outlook) for an amount of ₹ 5,000 crores, by India Ratings and Research Private Limited ("India Ratings") vide their letter dated November 18, 2019.

Company Promoters

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

Objects of the Issue:

The company proposes to utilise the funds towards funding the following objects:

1. 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

L&T Finance NCD Dec 2019 Prospectus

L&T Finance NCD Dec 2019 Rating

66
4.4
Rating:Rated 4.4 stars

Vote Here ...

L&T Finance NCD Dec 2019 Listing Date

  •   ›  Listing Date: Thursday, December 26, 2019
  •   ›  BSE Script Code:
  •   ›  NSE Symbol:
  •   ›  Listing In:
  •   ›  ISIN:
  •   ›  Issue Price:
  •   ›  Face Value: Rs 1000 each NCD

Company Contact Information

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

Phone: +91 22 6212 5000
Email: investorgrievances@ltfs.com
Website: https://www.ltfs.com/

L&T Finance NCD Dec 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
Email: ncd.ltinfra2019@linkintime.co.in
Website: http://www.linkintime.co.in

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18 Comments

acp
18. acp  Dec 24, 2019 11:35 I Like It. | I Don't Like It. | Report Abuse Reply
i got 1 allotment
zerodha account where it show ???
and how can i sold??
anyone suggest please ...
thanks in advance.....

i m not new but NCD i fill first time so....
rdsy
17. rdsy  Dec 24, 2019 09:10 I Like It. | I Don't Like It. | Report Abuse Reply
For information NCD unit alotted and credited in dmat account
CooL HunK
16. CooL HunK  Dec 23, 2019 18:29 I Like It. | I Don't Like It. | Report Abuse Reply
Allotment status is out.

https://linkintime.co.in/BONDS/AllotmentDetails.html

Also credited to Demat account.
CooL HunK
15. CooL HunK  Dec 21, 2019 13:45 I Like It. | I Don't Like It. | Report Abuse Reply
Amount debited today in Kotak Mahindra Bank. Applied through Kotak Securities 3in1 account. Got full allotment under ₹1 lakh.
rdsy
15.1. rdsy  Dec 23, 2019 16:40 I Like It. | I Don't Like It. | Report Abuse
Amount debited today from account and ncd unit alotted to Dmat account
Iposplmst
14. Iposplmst  Dec 20, 2019 12:33 I Like It. | I Don't Like It. | Report Abuse Reply
When is the allotment date?
Vimal Garodia
14.1. Vimal Garodia  Dec 21, 2019 06:31 I Like It. | I Don't Like It. | Report Abuse
It is generally 6 working days after closure of the issue...
retailinvestor
13. retailinvestor  Dec 18, 2019 14:08 I Like It. | I Don't Like It. | Report Abuse Reply
The NCD issue was oversubscribed, as expected, on very first day itself. The allotment is on "First Come First Serve" basis. Will the RII, who have applied on 2nd day i.e. on 17/12/2019, be allotted NCDs or not. Pl. clarify the knowledgeable pones.
Shripad Bhadti
12. Shripad Bhadti  Dec 17, 2019 16:52 I Like It. | I Don't Like It. | Report Abuse Reply
Hi Can an NRI apply for this issue?
Rohitjan
11. Rohitjan  Dec 17, 2019 11:34 I Like It. | I Don't Like It. | Report Abuse Reply
NCD issue closing today at 5.00pm Issue fully subscribed
LearningIPO
11.1. LearningIPO  Dec 17, 2019 13:11 I Like It. | I Don't Like It. | Report Abuse
They have a huge shelf size of 5000Cr. It needs to be 11x subscribed for early closing and current subscription is @2.48x which means there is a long way to go.
LearningIPO
11.2. LearningIPO  Dec 17, 2019 15:45 I Like It. | I Don't Like It. | Report Abuse
My bad.
Oversubscription limit is 1000Cr. which means 3x subscription is required for early closing and current subscription is @2.85x. So, hopefully, this will close today itself.
BullOverBear
10. BullOverBear  Dec 16, 2019 19:52 I Like It. | I Don't Like It. | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Anybody successful in applying for this L&T Fin NCD, please share who is broker and how it works.

Thanks in advance.
LearningIPO
10.2. LearningIPO  Dec 17, 2019 10:50 I Like It. | I Don't Like It. | Report Abuse
You can apply via SBI.
BullOverBear
10.3. BullOverBear  Dec 17, 2019 14:04 I Like It. | I Don't Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
@CooL HunK and @LeaningIPO, Thanks for your replies.
Rohitjan
9. Rohitjan  Dec 17, 2019 11:31 I Like It. | I Don't Like It. | Report Abuse Reply
L&T Fin NCD closing today.. Fully Subscribed...
Marudhanayagam
8. Marudhanayagam  Dec 16, 2019 11:55 I Like It. | I Don't Like It. | Report Abuse Reply
l&t fin ncd not showing up in hdfc netbanking? has anyone used hdfc to apply today?
Jaspreet Singh Oberoi
8.1. Jaspreet Singh Oberoi  Dec 16, 2019 12:57 I Like It. | I Don't Like It. | Report Abuse
Not appearing in ICICI and Axis as well.
LearningIPO
8.2. LearningIPO  Dec 17, 2019 11:13 I Like It. | I Don't Like It. | Report Abuse
Working fine with SBI net banking.
LearningIPO
7. LearningIPO  Dec 17, 2019 10:53 I Like It. | I Don't Like It. | Report Abuse Reply
You can apply with SBI net banking.
Is the subscription low because private banks aren't showing this subscription yet?
Jaspreet Singh Oberoi
6. Jaspreet Singh Oberoi  Dec 16, 2019 12:25 I Like It. | I Don't Like It. | Report Abuse Reply
Can you guys see option to invest in L&T Finance NCD ? I tried applying via ICICI Bank - Online IPO and Axis Bank. Can't see in either of the two.
Marudhanayagam
6.2. Marudhanayagam  Dec 16, 2019 14:41 I Like It. | I Don't Like It. | Report Abuse
looks like some of these banks have provided the option of applying only via their securities website !
LearningIPO
6.3. LearningIPO  Dec 17, 2019 10:51 I Like It. | I Don't Like It. | Report Abuse
Applied with SBI.
CooL HunK
5. CooL HunK  Dec 15, 2019 16:59 I Like It. | I Don't Like It. | Report Abuse Reply
As per the track record of L&T Finance NCD issues in the past, this issue too oversubscribed in few hours of day 1 itself. Interest rates offered are good as compared to corporate fixed deposits. Best one to apply in current capital market scenario.
Regulagedda Ambica Prasad
5.1. Regulagedda Ambica Prasad  Dec 16, 2019 12:25 I Like It. | I Don't Like It. | Report Abuse
It is subscribed 0.56 times till 12:05 today
CooL HunK
5.2. CooL HunK  Dec 16, 2019 14:53 I Like It. | I Don't Like It. | Report Abuse
In less than 5 hours of open, the issue of 500 crores is fully subscribed by 2:50 pm amid strong demand from retailers. though they have a green shoe option of 1000 crore in addition to the base issue size, the issue will continue for few days more. May be 2 or 3 days more.
Regulagedda Ambica Prasad
4. Regulagedda Ambica Prasad  Dec 16, 2019 14:39 I Like It. | I Don't Like It. | Report Abuse Reply
Retail over subscribed 1.26 times
Overall 0.92 times till now
Iposplmst
3. Iposplmst  Dec 13, 2019 15:16 I Like It. | I Don't Like It. | Report Abuse Reply
Please correct coupon details in your table
For Series 1 - Frequency of Interest Payment - Annually
retailinvestor
2. retailinvestor  Oct 4, 2019 11:08 I Like It. | I Don't Like It. | Report Abuse Reply
Any update on ionterest rates being offered, duration of bonds and issue datres??

Though the bonds gave been ratyed AAA by all agencies but are these would really be safe. We have examples of DHFL, India Bulls and others which were all AAA rated.
IPO INFORMAR
2.1. IPO INFORMAR  Oct 5, 2019 10:57 I Like It. | I Don't Like It. | Report Abuse
Broadly no meaning of rating in India.Before issue it is AAA and after 6 months D ,See the case of DHFL and India bull.
an Investor
2.2. an Investor  Oct 9, 2019 17:16 I Like It. | I Don't Like It. | Report Abuse
Guys, what is the news about Indiabulls? I hold NCDs of INDIABULLS CONSUMER FINANCE LIMITED
IPO INFORMAR
1. IPO INFORMAR  Oct 3, 2019 11:24 I Like It. | I Don't Like It. | Report Abuse Reply
Date please




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