Comparison between L&T Finance NCD Dec 2019 and Muthoot Fincorp Limited NCD Sept 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 Fincorp Limited NCD Sept 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE.
| L&T Finance Ltd. | Muthoot Fincorp 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 "BWR A+" (BWR A plus; Outlook: Stable)' for an amount of Rs 50,000 lakhs , by Brickwork Ratings India Private Limited ("Brickworks") vide their letter dated August 23, 2019. The rating of BWR A+ by Brickworks indicate that instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations and carry lowest credit risk. |
| Registrar | MUFG Intime India Pvt.Ltd. | Integrated Registry Management Services Pvt.Ltd. |
| Lead Managers | Trust Investment Advisors Pvt.Ltd. JM Financial Ltd. Edelweiss Financial Services Ltd. A.K.Capital Services Ltd. | SMC Capitals Ltd. |
| Debenture Trustees | ||
| 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 Fincorp Limited NCD Sept 2019 issue size is ₹250.00 Cr at a issue price of ₹1,000.00 per NCD.
| L&T Finance Ltd. | Muthoot Fincorp Ltd. | |
|---|---|---|
| Issue Size (Base) | ₹500.00 Cr | ₹250.00 Cr |
| Issue Size (Shelf) | ₹5,000.00 Cr | ₹250.00 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 | BWR A+/ Stable by Brickworks |
| Tenor | 36 months/ 60 months/ 84 months | 400 days/24 months/36 months |
| Series | Series I to Series VI | Series I to Series VIII |
| Payment Frequency | Monthly, Annual and Cumulative | Monthly, Annual and Cumulative |
Offering period of L&T Finance NCD Dec 2019 and Muthoot Fincorp Limited NCD Sept 2019 is mentioned.
| L&T Finance Ltd. | Muthoot Fincorp Ltd. | |
|---|---|---|
| Bid/Offer Opens On | Dec 16, 2019 | Sep 20, 2019 |
| Bid/Offer Closes On | Dec 17, 2019 | Oct 18, 2019 |
In L&T Finance NCD Dec 2019 QIBs portion includes and offered are offered to retail investors. In Muthoot Fincorp Limited NCD Sept 2019 QIBs portion includes and offered are offered to retail investors.
| L&T Finance Ltd. | Muthoot Fincorp Ltd. | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 50,00,000 shares | 25,00,000 shares |
