Comparison between Cholamandalam Investment NCD Tranche I April 2023 and IIFL Finance NCD Tranche II June 2023.
Cholamandalam Investment NCD Tranche I April 2023 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE, NSE while IIFL Finance NCD Tranche II June 2023 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE, NSE.
| Cholamandalam Investment & Finance Co.Ltd. | IIFL Finance Ltd. | |
|---|---|---|
| Logo |  |  |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Listing At | BSE, NSE | BSE, NSE |
| Basis of Allotment | First Come First Serve Basis | First Come First Serve Basis |
| DRHP (Base) | ||
| RHP (Base) | RHP  | RHP |
| DRHP (Shelf) | DRHP (Shelf) | DRHP (Shelf) |
| RHP (Shelf) | RHP (Shelf) | RHP (Shelf) |
| NCD Rating | The company has received a rating of ICRA AA+ (Stable) by ICRA Limited and IND AA+ (Stable) by India Ratings & Research Private Limited for the NCDs proposed to be issued pursuant to this Issue. | The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable by CRISIL Ratings Limited and ICRA AA (stable) by ICRA Limited. Such ratings indicated that the instruments are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk. |
| Registrar | Kfin Technologies Ltd. | MUFG Intime India Pvt.Ltd. |
| Lead Managers | A.K.Capital Services Ltd. | Equirus Capital Ltd. IIFL Capital Services Ltd. Trust Investment Advisors Pvt.Ltd. Edelweiss Financial Services Ltd. |
| Debenture Trustees | IDBI Trusteeship Services Ltd. | Vardhman Trusteeship Pvt.Ltd. |
| NRI Allowed | No | No |
| Allotment Link |
Comparison between Issue size, Issue price, Face value, Market lot and other details of the NCDs. Cholamandalam Investment NCD Tranche I April 2023 issue size is ₹500.00 Cr at an issue price of ₹1,000.00 per NCD. IIFL Finance NCD Tranche II June 2023 issue size is ₹300.00 Cr at a issue price of ₹1,000.00 per NCD.
| Cholamandalam Investment & Finance Co.Ltd. | IIFL Finance Ltd. | |
|---|---|---|
| Issue Size (Base) | ₹500.00 Cr | ₹300.00 Cr |
| Issue Size (Shelf) | ₹5,000.00 Cr | ₹5,000.00 Cr |
| Issue Price | ₹1,000.00 per NCD | ₹1,000.00 per NCD |
| Face Value | ₹1,000.00 per NCD | ₹1,000.00 per NCD |
| Minimum Lot size | 10 NCD | 10 NCD |
| Market Lot | 1 NCD | 1 NCD |
| Credit Rating | ICRA AA+ (Stable) by ICRA Limited and IND AA+ (Stable) by India Ratings & Research Private Limited | CRISIL AA/Stable by CRISIL Limited and ICRA AA (stable) by ICRA Limited. |
| Tenor | 22, 37 and 60 months | 24, 36 and 60 Months |
| Series | Series I to VI | Series I to VII |
| Payment Frequency | Annually and Cumulative | Monthly, Annual and Cumulative |
Offering period of Cholamandalam Investment NCD Tranche I April 2023 and IIFL Finance NCD Tranche II June 2023 is mentioned.
| Cholamandalam Investment & Finance Co.Ltd. | IIFL Finance Ltd. | |
|---|---|---|
| Bid/Offer Opens On | Apr 25, 2023 | Jun 09, 2023 |
| Bid/Offer Closes On | Apr 27, 2023 | Jun 22, 2023 |
In Cholamandalam Investment NCD Tranche I April 2023 QIBs portion includes 10,00,000 shares and 15,00,000 shares offered are offered to retail investors. In IIFL Finance NCD Tranche II June 2023 QIBs portion includes 3,00,000 shares and 12,00,000 shares offered are offered to retail investors.
| Cholamandalam Investment & Finance Co.Ltd. | IIFL Finance Ltd. | |
|---|---|---|
| Institutional | 10,00,000 shares | 3,00,000 shares |
| Non Institutional | 12,50,000 shares | 12,00,000 shares |
| HNI | 12,50,000 shares | 0 shares |
| Retail | 15,00,000 shares | 12,00,000 shares |
| Others | ||
| Total | 50,00,000 shares | 30,00,000 shares |
