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Comparision between ECL Finance NCD April 2019 and L&T Finance Ltd. NCD April 2019.
ECL Finance NCD April 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE while L&T Finance Ltd. NCD April 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE, NSE.
| ECL Finance Limited | L&T Finance Ltd. | |
|---|---|---|
| Logo |  |
 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Listing at | BSE | 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) | ||
| 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 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 Rs 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 Rs 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 Rs 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. |
| Registrar | Link Intime India Private Ltd | Link Intime India Private Ltd |
| Lead Managers | Axis Bank Limited Edelweiss Financial Services Ltd |
A.K. Capital Services Limited Axis Bank Limited Edelweiss Financial Services Ltd Trust Investment Advisors Private Limited |
| Debenture Trusties | ||
| NRI Allowed | No | No |
| Allotment Link | Allotment Link |
Allotment Link |
Comparison between Issue size, Issue price, Face value, Market lot and other details of the NCDs. ECL Finance NCD April 2019 issue size is ₹300.00 Cr at an issue price of ₹1,000.00 per NCD. L&T Finance Ltd. NCD April 2019 issue size is ₹500.00 Cr at a issue price of ₹1,000.00 per NCD.
| ECL Finance Limited | L&T Finance Ltd. | |
|---|---|---|
| Issue Size (Base) | ₹300.00 Cr | ₹500.00 Cr |
| Issue Size (Shelf) | ₹2,000.00 Cr | ₹500.00 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 | CARE AA/Positive, CRISIL AA/Stable | ICRA AAA/Stable, CARE AAA/Stable, IND AAA/Stable |
| Tenor | 39 Months/ 2 Years/ 5 Years/ 10 Years | 37 months/60 months/ 120 months/ |
| Series | Series I to Series IX |
Series 1 to Series 6 |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly, Annual and Cumulative |
| Coupon Incentive |
Offering period of ECL Finance NCD April 2019 and L&T Finance Ltd. NCD April 2019 is mentioned.
| ECL Finance Limited | L&T Finance Ltd. | |
|---|---|---|
| Bid/Offer Opens On | May 10, 2019 | Apr 08, 2019 |
| Bid/Offer Closes On | May 17, 2019 | Apr 09, 2019 |
In ECL Finance NCD April 2019 QIBs portion includes and offered are offered to retail investors. In L&T Finance Ltd. NCD April 2019 QIBs portion includes and offered are offered to retail investors.
| ECL Finance Limited | L&T Finance Ltd. | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 15,00,000 shares | 50,00,000 shares |
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