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Comparision between JM Finacial NCD April 2019 and L&T Finance Ltd. NCD April 2019.
JM Finacial 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.
| JM Financial Products 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 [ICRA]AA by ICRA for an amount of upto Rs 2,000 crores vide its letters dated January 09, 2019 and have been rated "CRISIL AA/STABLE" by CRISIL for an amount upto Rs 2,000 crores vide its letter dated January 03, 2019. The rating of the NCDs by ICRA and CRISIL indicates high degree of safety regarding timely servicing of financial obligations. |
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 | Kfin Technologies Limited | Link Intime India Private Ltd |
| Lead Managers | A.K. Capital Services Limited Jm Financial Limited Trust Investment Advisors Private Limited |
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 |
Comparison between Issue size, Issue price, Face value, Market lot and other details of the NCDs. JM Finacial NCD April 2019 issue size is ₹1,000.00 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.
| JM Financial Products Limited | L&T Finance Ltd. | |
|---|---|---|
| Issue Size (Base) | ₹1,000.00 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 | ICRA AA/Stable, CRISIL AA/Stable | ICRA AAA/Stable, CARE AAA/Stable, IND AAA/Stable |
| Tenor | 24 months/ 36 months/ 60 months | 37 months/60 months/ 120 months/ |
| Series | Series 1 to Series 6 |
Series 1 to Series 6 |
| Payment Frequency | Monthly/ Annual/ Cumulative | Monthly, Annual and Cumulative |
| Coupon Incentive |
Offering period of JM Finacial NCD April 2019 and L&T Finance Ltd. NCD April 2019 is mentioned.
| JM Financial Products Limited | L&T Finance Ltd. | |
|---|---|---|
| Bid/Offer Opens On | Apr 22, 2019 | Apr 08, 2019 |
| Bid/Offer Closes On | May 15, 2019 | Apr 09, 2019 |
In JM Finacial 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.
| JM Financial Products Limited | L&T Finance Ltd. | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 20,00,000 shares | 50,00,000 shares |
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