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Comparision between L&T Finance NCD Dec 2019 and Muthoot Finance NCD Nov 2019.
L&T Finance NCD Dec 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE, NSE while Muthoot Finance NCD Nov 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE.
| L&T Finance Ltd | Muthoot Finance Ltd | |
|---|---|---|
| Logo |  |
 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Listing at | BSE, NSE | BSE |
| 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 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. |
The NCDs proposed to be issued under this Issue have been rated [ICRA] AA (Stable) by ICRA for an amount of upto Rs 40,000 million vide its letter dated December 31, 2018 and have been rated CRISIL AA/Stable by CRISIL for an amount upto Rs 40,000 million vide its letter dated January 18, 2019. The rating of the NCDs by ICRA and CRISIL indicates high degree of safety regarding timely servicing of financial obligations. |
| Registrar | Link Intime India Private Ltd | Link Intime India Private Ltd |
| Lead Managers | A.K. Capital Services Limited Edelweiss Financial Services Ltd Jm Financial Limited Trust Investment Advisors Private Limited |
A.K. Capital Services Limited Edelweiss Financial Services Ltd |
| 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. L&T Finance NCD Dec 2019 issue size is ₹500.00 Cr at an issue price of ₹1,000.00 per NCD. Muthoot Finance NCD Nov 2019 issue size is ₹100.00 Cr at a issue price of ₹1,000.00 per NCD.
| L&T Finance Ltd | Muthoot Finance Ltd | |
|---|---|---|
| Issue Size (Base) | ₹500.00 Cr | ₹100.00 Cr |
| Issue Size (Shelf) | ₹5,000.00 Cr | ₹4,000.00 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 | CRISIL AAA/Stable, CARE AAA/Stable, IND AAA/Stable | ICRA AA/ Stable, CRISIL AA/ Stable |
| Tenor | 36 months/ 60 months/ 84 months | 24 months/ 38 months/ 60 months/ 90 months |
| Series | Series I to Series VI |
Series I to Series X |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly and Annual |
| Coupon Incentive |
Offering period of L&T Finance NCD Dec 2019 and Muthoot Finance NCD Nov 2019 is mentioned.
| L&T Finance Ltd | Muthoot Finance Ltd | |
|---|---|---|
| Bid/Offer Opens On | Dec 16, 2019 | Nov 29, 2019 |
| Bid/Offer Closes On | Dec 17, 2019 | Dec 20, 2019 |
In L&T Finance NCD Dec 2019 QIBs portion includes and offered are offered to retail investors. In Muthoot Finance NCD Nov 2019 QIBs portion includes and offered are offered to retail investors.
| L&T Finance Ltd | Muthoot Finance Ltd | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 50,00,000 shares | 10,00,000 shares |
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