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Comparision between ECL Finance NCD Nov 2019 and Muthoot Fincorp NCD Jan 2020.
ECL Finance NCD Nov 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE while Muthoot Fincorp NCD Jan 2020 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE.
| ECL Finance Limited | Muthoot Fincorp Limited | |
|---|---|---|
| Logo |  |
 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Listing at | BSE | BSE |
| Basis of Allotment | First Come First Serve Basis | First Come First Serve Basis |
| DRHP (Base) | DRHP  |
|
| RHP (Base) | RHP |
|
| DRHP (Shelf) | DRHP (Shelf) |
|
| RHP (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 rating of "CARE AA; Positive" by CARE Ratings Limited and "CRISIL AA/Stable" by CRISIL Limited indicate that instruments with these ratings are considered to have a high degree of safety regarding timely servicing of financial obligations. |
The NCDs proposed to be issued under this Issue have been rated "A (Stable)" for an amount of Rs 50,000 lakhs by CRISIL Limited ("CRISIL") vide their letter dated October 10, 2019 and further revalidated by their letter dated December 26, 2019 and rated "BWR A +" Outlook: Stable)' for an amount of Rs 50,000 lakhs, by Brickwork Ratings India Pvt. Ltd. ("Brickworks") vide their letter dated December 12, 2019. |
| Registrar | Link Intime India Private Ltd | Integrated Registry Management Services Private Limited |
| Lead Managers | Axis Bank Limited Edelweiss Financial Services Ltd |
Smc Capitals Limited |
| Debenture Trusties | ||
| NRI Allowed | No | No |
| Allotment Link |
Comparison between Issue size, Issue price, Face value, Market lot and other details of the NCDs. ECL Finance NCD Nov 2019 issue size is ₹100.00 Cr at an issue price of ₹1,000.00 per NCD. Muthoot Fincorp NCD Jan 2020 issue size is ₹250.00 Cr at a issue price of ₹1,000.00 per NCD.
| ECL Finance Limited | Muthoot Fincorp Limited | |
|---|---|---|
| Issue Size (Base) | ₹100.00 Cr | ₹250.00 Cr |
| Issue Size (Shelf) | ₹400.00 Cr | ₹480.00 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 | BWR A+ /Stable, CRISIL A/Stable |
| Tenor | 24 months/ 39 months/ 60 months/ 120 months | 400 days/ 24 months/ 38 months/ 60 months |
| Series | Series I to Series IX |
Series I to Series XI |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly, Annual and Cumulative |
| Coupon Incentive |
Offering period of ECL Finance NCD Nov 2019 and Muthoot Fincorp NCD Jan 2020 is mentioned.
| ECL Finance Limited | Muthoot Fincorp Limited | |
|---|---|---|
| Bid/Offer Opens On | Nov 04, 2019 | Jan 09, 2020 |
| Bid/Offer Closes On | Nov 22, 2019 | Feb 04, 2020 |
In ECL Finance NCD Nov 2019 QIBs portion includes and offered are offered to retail investors. In Muthoot Fincorp NCD Jan 2020 QIBs portion includes and offered are offered to retail investors.
| ECL Finance Limited | Muthoot Fincorp Limited | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 10,00,000 shares | 25,00,000 shares |
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