Comparison between JM Financial NCD Aug 2019 and Tata Capital NCD Aug 2019.
JM Financial NCD Aug 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) NCD proposed to list at BSE while Tata Capital NCD Aug 2019 is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) proposed to list at BSE, NSE.
| JM Financial Products Ltd. | Tata Capital Financial Services 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  | |
| 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 The rating provided by ICRA and CRISIL may be suspended, withdrawn or revised at any time by the assigning rating agency and should be evaluated independently of any other rating. | The NCDs proposed to be issued under this Tranche II Issue have been rated "CRISIL AAA / Stable" for an amount of up to Rs 7,50,000 lakh by CRISIL Limited vide its letter dated August 15, 2018, revalidated vide its letter dated August 27, 2018 and further revalidated by letter dated July 25, 2019 and have been rated "CARE AAA; Stable" for an amount up to Rs 7,50,000 lakh by CARE Ratings Limited vide its letter dated August 14, 2018, revalidated vide its letter dated August 27, 2018 and further revalidated by letter dated July 26, 2019. The ratings of the NCDs issued by CRISIL Limited indicate highest degree of safety regarding timely servicing of financial obligations. |
| Registrar | Kfin Technologies Ltd. | Kfin Technologies Ltd. |
| Lead Managers | Trust Investment Advisors Pvt.Ltd. JM Financial Ltd. A.K.Capital Services Ltd. | Edelweiss Financial Services Ltd. Axis Bank Ltd. A.K.Capital Services Ltd. |
| Debenture Trustees | ||
| NRI Allowed | Yes | Yes |
| Allotment Link | Allotment Link | Allotment Link |
Comparison between Issue size, Issue price, Face value, Market lot and other details of the NCDs. JM Financial NCD Aug 2019 issue size is ₹100.00 Cr at an issue price of ₹1,000.00 per NCD. Tata Capital NCD Aug 2019 issue size is ₹500.00 Cr at a issue price of ₹1,000.00 per NCD.
| JM Financial Products Ltd. | Tata Capital Financial Services Ltd. | |
|---|---|---|
| Issue Size (Base) | ₹100.00 Cr | ₹500.00 Cr |
| Issue Size (Shelf) | ₹400.00 Cr | ₹3,626.00 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 | CRISIL AAA/Stable, CARE AAA/Stable |
| Tenor | 38 months/ 60 months/ 84 months | 3 years/ 5 years/ 8 years/ 10 years |
| Series | Series I to Series V | Series I to Series IV |
| Payment Frequency | Monthly, Annual and Cumulative | Annual |
Offering period of JM Financial NCD Aug 2019 and Tata Capital NCD Aug 2019 is mentioned.
| JM Financial Products Ltd. | Tata Capital Financial Services Ltd. | |
|---|---|---|
| Bid/Offer Opens On | Aug 06, 2019 | Aug 13, 2019 |
| Bid/Offer Closes On | Sep 04, 2019 | Aug 20, 2019 |
In JM Financial NCD Aug 2019 QIBs portion includes and offered are offered to retail investors. In Tata Capital NCD Aug 2019 QIBs portion includes and offered are offered to retail investors.
| JM Financial Products Ltd. | Tata Capital Financial Services Ltd. | |
|---|---|---|
| Institutional | ||
| Non Institutional | ||
| HNI | ||
| Retail | ||
| Others | ||
| Total | 10,00,000 shares | 50,00,000 shares |
