ECL Finance Limited NCD Dates, Size, Allotment, Subscription, DRHP & more

Let’s have a detailed review of the company and analytics of the ECL Finance Limited NCD release date, NCD issue size, subscription, ECL Finance NCD allotment and other details like the company’s background, its financial positions, its promoters and other related things.

ECL Finance Limited NCD – November 2019 Detail

ECL Finance Limited NCD – Basis of the Offer Price

ECL Finance Limited NCD Dates

The opening and the closing date of ECL Finance Limited NCD is from Nov 4, 2019 to Nov 22, 2019.

ECL Finance Limited NCD Subscription

The shares subscribed by the public will be updated here.

ECL Finance Limited NCD Allotment Status

Here, you can find the Allotment Status of this NCD – https://www.linkintime.co.in/BONDS/AllotmentDetails.html

ECL Finance Limited NCD Share Offering

Public issue of secured redeemable non-convertible debentures of face value of Rs.1,000/- each (The “Debentures” or The “NCDs”), with a base issue size for an amount of Rs. 1,000 million /-  with an option to retain over subscription of additional NCDs of face value of Rs.1,000/- each, for an amount upto Rs. 4,000 million /- aggregating to Rs. 5,000 million /-  (“Tranche II Issue”) which is within the shelf limit of Rs.20,000 Million.

ECL Finance Limited NCD Allocation Ratio

ECL Finance Limited NCD Offered

ECL Finance Limited NCD Coupon Rates

ECL Finance Limited NCD Issue Object

The Company proposes to utilise the funds which are being raised through this Tranche II Issue, after deducting the Tranche II Issue related expenses to the extent payable by the Company (“Net Proceeds”), towards funding the following objects (collectively, referred to herein as the “Objects”):

• For the purpose of onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the Company; and
• General corporate purposes.

ECL Finance Limited – Company Overview

The Company was incorporated in Mumbai, Maharashtra on July 18, 2005 as a public limited company under the provisions of the Companies Act, 1956, as ECL Finance Limited and received the certificate of commencement of business from the Registrar of Companies, Maharashtra at Mumbai on August 04, 2005. The Company is registered as a Non-Banking Financial Company under Section 45-IA of the Reserve Bank of India Act, 1934.

ECL Finance Limited NCD Lead Managers

ECL Finance Limited NCD Debenture Trustee

ECL Finance Limited NCD Registrar to offer

ECL Finance Limited NCD Ratings

The NCDs proposed to be issued under this Issue have been rated “CARE AA; Positive” for an amount of ` 20,000 million, by CARE Ratings Limited vide their letter dated April 10, 2019 and revalidated as “CARE AA-; Stable” by revalidation letters dated July 31, 2019, September 10, 2019 and October 18, 2019 and “CRISIL AA/Stable” for an amount of ` 20,000 million, by CRISIL Limited vide their letter dated April 18, 2019 and revalidated as “CRISIL AA/Negative” vide its revalidation letters dated July 20, 2019 and August 20, 2019 and further revalidated as “CRISIL AA-/Stable”  vide its letter dated October 07, 2019.

The rating of “CARE AA-; Stable” by CARE Ratings Limited and “CRISIL AA-; Stable” by CRISIL Limited indicate that instruments with these ratings are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

ECL Finance Limited NCD News

News 1 – Download DRHP Prospectus

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