Comparison between KLM Axiva Finvest NCD Aug 2019 and L&T Finance NCD Dec 2019.
KLM Axiva Finvest NCD Aug 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE while L&T Finance NCD Dec 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE, NSE.
| KLM Axiva Finvest Ltd. | 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) | DRHP  | DRHP |
| RHP (Base) | RHP | |
| DRHP (Shelf) | ||
| RHP (Shelf) | RHP (Shelf) | |
| NCD Rating | The NCDs proposed to be issued under the Issue have been rated 'CARE BB+ Stable' (Double B Plus; Outlook: Stable) by CARE Ratings Limited ("CARE Ratings") for an amount up to 12,500 lakhs, vide its letter dated July 22, 2019. The rating of NCDs by Care Ratings indicates that instruments with this rating are considered to have moderate risk of default regarding timely servicing of financial obligations. | 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. |
| Registrar | Kfin Technologies Ltd. | MUFG Intime India Pvt.Ltd. |
| Lead Managers | Vivro Financial Services Pvt.Ltd. | Trust Investment Advisors Pvt.Ltd. JM Financial Ltd. Edelweiss Financial Services Ltd. A.K.Capital Services Ltd. |
| Debenture Trustees | ||
| 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. KLM Axiva Finvest NCD Aug 2019 issue size is ₹100.00 Cr at an issue price of ₹1,000.00 per NCD. L&T Finance NCD Dec 2019 issue size is ₹500.00 Cr at a issue price of ₹1,000.00 per NCD.
| KLM Axiva Finvest Ltd. | L&T Finance Ltd. | |
|---|---|---|
| Issue Size (Base) | ₹100.00 Cr | ₹500.00 Cr |
| Issue Size (Shelf) | ₹125.00 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 | 5 NCD | 10 NCD |
| Market Lot | 1 NCD | 1 NCD |
| Credit Rating | CARE BB+/Stable | CRISIL AAA/Stable, CARE AAA/Stable, IND AAA/Stable |
| Tenor | 400 days/ 45 months/ 75 months/2 yrs/ 3 yrs/ 5 yrs | 36 months/ 60 months/ 84 months |
| Series | Series I to X | Series I to Series VI |
| Payment Frequency | Monthly, Annually or Cumulative | Monthly, Annual and Cumulative |
Offering period of KLM Axiva Finvest NCD Aug 2019 and L&T Finance NCD Dec 2019 is mentioned.
| KLM Axiva Finvest Ltd. | L&T Finance Ltd. | |
|---|---|---|
| Bid/Offer Opens On | Aug 28, 2019 | Dec 16, 2019 |
| Bid/Offer Closes On | Sep 26, 2019 | Dec 17, 2019 |
In KLM Axiva Finvest NCD Aug 2019 QIBs portion includes and offered are offered to retail investors. In L&T Finance NCD Dec 2019 QIBs portion includes and offered are offered to retail investors.
| KLM Axiva Finvest Ltd. | L&T Finance Ltd. | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 10,00,000 shares | 50,00,000 shares |
