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

Dec 16, 2019 - Dec 17, 2019
L&T Finance Ltd Logo

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 Open Dec 16, 2019 - Dec 17, 2019
Security Name L&T Finance Ltd
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 500.00 Crores
Issue Size (Shelf) Rs 5,000.00 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, NSE
Credit Rating CRISIL AAA/Stable, CARE AAA/Stable, IND AAA/Stable
Tenor 36 months/ 60 months/ 84 months
Series

Series I to Series VI

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

NCD Allocation Ratio

Category ? NCD's Allocated
Category 1 10%
Category 2 10%
Category 3 35%
Category 4 45%

NCD's Offered by Category

Category ? NCD's Reserved
Category 1 500,000
Category 2 500,000
Category 3 1,750,000
Category 4 2,250,000
Total NCD's 5,000,000

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 Rs 1,000 Rs 1,268.76 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000
Amount on Maturityfor Category III & IV Rs 1,000 Rs 1,275.81 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000

NCD Rating

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 Rs 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 Rs 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 Rs 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 Subscription Status

The L&T Finance NCD Dec 2019 was subscribed 3.01 times on Dec 17, 2019 6:00:00 PM. The NCD subscribed .

Category ?Subscription (times)
Category 43.04x
Category 34.18x
Category 2 (NII)1.31x
Category 1 (QIB)0.44x
Total3.01x

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L&T Finance NCD Dec 2019 Rating

68
4.4
Rating:Rated 4.4 stars
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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

L&T Finance NCD Dec 2019 Reviews

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: https://linkintime.co.in/


19 Comments

19. SABOO     Link|Feb 1, 2020 5:44:21 PM
I have not received any interest from allotted Series I NCDs. When the interest will be credited?
18. acp     Link|Dec 24, 2019 11:35:52 AM
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....
17. rdsy     Link|Dec 24, 2019 9:10:34 AM
For information NCD unit alotted and credited in dmat account
16. CooL HunK     Link|Dec 23, 2019 6:29:56 PM
Allotment status is out.

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

Also credited to Demat account.
15. CooL HunK     Link|Dec 21, 2019 1:45:51 PM
Amount debited today in Kotak Mahindra Bank. Applied through Kotak Securities 3in1 account. Got full allotment under ₹1 lakh.
15.1. rdsy     Link|Dec 23, 2019 4:40:55 PM
Amount debited today from account and ncd unit alotted to Dmat account
14. Iposplmst     Link|Dec 20, 2019 12:33:53 PM
When is the allotment date?
14.1. Vimal Garodia     Link|Dec 21, 2019 6:31:49 AM
It is generally 6 working days after closure of the issue...
13. retailinvestor     Link|Dec 18, 2019 2:08:26 PM
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.
12. Shripad Bhadti     Link|Dec 17, 2019 4:52:32 PM
Hi Can an NRI apply for this issue?
11. Rohitjan     Link|Dec 17, 2019 11:34:08 AM
NCD issue closing today at 5.00pm Issue fully subscribed
11.1. LearningIPO     Link|Dec 17, 2019 1:11:02 PM
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.
11.2. LearningIPO     Link|Dec 17, 2019 3:45:57 PM
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.
10. BullOverBear     Link|Dec 16, 2019 7:52:37 PM
Anybody successful in applying for this L&T Fin NCD, please share who is broker and how it works.

Thanks in advance.
10.2. LearningIPO     Link|Dec 17, 2019 10:50:44 AM
You can apply via SBI.
10.3. BullOverBear     Link|Dec 17, 2019 2:04:58 PM
@CooL HunK and @LeaningIPO, Thanks for your replies.
9. Rohitjan     Link|Dec 17, 2019 11:31:48 AM
L&T Fin NCD closing today.. Fully Subscribed...
8. Marudhanayagam     Link|Dec 16, 2019 11:55:35 AM
l&t fin ncd not showing up in hdfc netbanking? has anyone used hdfc to apply today?
8.1. Jaspreet Singh Oberoi     Link|Dec 16, 2019 12:57:22 PM
Not appearing in ICICI and Axis as well.
8.2. LearningIPO     Link|Dec 17, 2019 11:13:26 AM
Working fine with SBI net banking.
7. LearningIPO     Link|Dec 17, 2019 10:53:40 AM
You can apply with SBI net banking.
Is the subscription low because private banks aren't showing this subscription yet?
6. Jaspreet Singh Oberoi     Link|Dec 16, 2019 12:25:30 PM
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.
6.2. Marudhanayagam     Link|Dec 16, 2019 2:41:42 PM
looks like some of these banks have provided the option of applying only via their securities website !
6.3. LearningIPO     Link|Dec 17, 2019 10:51:32 AM
Applied with SBI.
5. CooL HunK     Link|Dec 15, 2019 4:59:35 PM
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.
5.1. Regulagedda Ambica Prasad     Link|Dec 16, 2019 12:25:06 PM
It is subscribed 0.56 times till 12:05 today
5.2. CooL HunK     Link|Dec 16, 2019 2:53:53 PM
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.
4. Regulagedda Ambica Prasad     Link|Dec 16, 2019 2:39:15 PM
Retail over subscribed 1.26 times
Overall 0.92 times till now
3. Iposplmst     Link|Dec 13, 2019 3:16:33 PM
Please correct coupon details in your table
For Series 1 - Frequency of Interest Payment - Annually
2. retailinvestor     Link|Oct 4, 2019 11:08:17 AM
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.
2.1. IPO INFORMAR     Link|Oct 5, 2019 10:57:23 AM
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.
2.2. an Investor     Link|Oct 9, 2019 5:16:28 PM
Guys, what is the news about Indiabulls? I hold NCDs of INDIABULLS CONSUMER FINANCE LIMITED
1. IPO INFORMAR     Link|Oct 3, 2019 11:24:25 AM
Date please