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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

Credit RatingCARE AA Positive by CARE and CRISIL AA Stable by CRISIL Limited
Issue OpenNov 4, 2019
Issue CloseNov 22, 2019
Base SizeRs 100 Crores
Shelf SizeRs 400 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Tenor24 months/ 39 months/ 60 months/ 120 months
SeriesSeries I to Series IX
Payment FrequencyMonthly, Cumulative and Annual
Basis of AllotmentFirst Come First Serve Basis

ECL Finance Limited NCD – Basis of the Offer Price

ISSUE STRUCTURE
Security NameSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Coupon payment frequencyMonthly, Cumulative and Annual
Coupon typeFixed & Floating
Tenor24 months/ 39 months/ 60 months/ 120 months
DepositoryNSDL and CDSL
DisbursementSEBI Debt Regulations
Debenture TrusteeBeacon Trusteeship Limited
Tranche II Issue SizeRs 5,000 million
Shelf LimitRs 20,000 million
Mode of IssuePublic issue

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

Day / DateQIB Category 1NII Category 2HNI Category 3RII Category 4Total Subscription
1st – 10th Day : till Nov 11, 20190.00x0.37x2.61x3.89x2.02x
10th – 20th Day : till
20th – 30th Day : till
Shares Offered or Net Issue10,00,00010,00,00015,00,00015,00,00050,00,000

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

NCD Allocation Ratio
CategoryNCD’s Allocated
QIB – Category 120%
Corporate – Category 220%
HNI – Category 330%
RII – Category 430%

ECL Finance Limited NCD Offered

NCD’s Offered
CategoryNCD’s Reserved
QIB – Category 110,00,000
NII – Category 210,00,000
HNI – Category 315,00,000
RII – Category 415,00,000
Total NCD’s50,00,000

ECL Finance Limited NCD Coupon Rates

SeriesIIIIIIIVVVIVIIVIIIIX
Frequency
of Payment
AnnualCumulativeAnnualCumulativeMonthlyAnnualCumulativeMonthlyAnnual
Minimum
Application
Rs. 10,000/- (10 NCDs) across all Series
Face Value/Rs. 1,000/-
In Multiples
of
thereafter
(Rs.)
Rs. 1,000/- (1 NCD)
Tenor24
months
24 months39
months
39 months60
months
60
months
60 months120
months
120
months
Coupon (%
per annum)
9.90%NA10.20%NA9.95%10.40%NA9.95%10.40%
Effective
Yield
9.89%9.90%10.22%10.20%10.41%10.39%10.40%10.41%10.39%
Mode of
Interest
Payment
Through various mode available
Amount (Rs. /
NCD) on
Maturity
Rs.
1,000/-
Rs.
1,208.11/-
Rs.
1,000/-
Rs.
1,371.81/-
Rs. 1,000/-Rs.
1,000/-
Rs.
1,640.90/-
Rs.
1,000/-
Rs.
1,000/-
Maturity /
Redemption
Date
24
months
24 months39
months
39 months60
months
60
months
60 months120
months
120
months
Put and
Call
Option
NANAN/ANANA*NAN/A*NANA

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

ECL Finance Limited NCDThe 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

Lead Managers
AXIS BANK LIMITED
Axis House, 8th Floor, C-2,
Wadia International Centre,
P.B. Marg, Worli,
Mumbai – 400 025,
Maharashtra, India
Tel.: +91 22 6604 3293
Fax: +91 22 2425 3800
Email: [email protected]
Website: www.axisbank.com
Investor Grievance email:
[email protected]
Contact Person: Mr. Vikas Shinde
Compliance Officer: Mr. Sharad Sawant
SEBI Registration No.: INM000006104
CIN: L65110GJ1993PLC020769
Lead Managers
EDELWEISS FINANCIAL SERVICES
LIMITED*
Edelweiss House,
Off CST Road, Kalina,
Mumbai 400 098, Maharashtra, India
Tel: +91 22 4086 3535
Fax: +91 22 4086 3610
Email: [email protected]
Website: www.edelweissfin.com
Investor Grievance email:
[email protected]
Contact Person: Mr. Lokesh Singhi
Compliance Officer: Mr. B. Renganathan
SEBI Registration No.: INM0000010650
CIN: L99999MH1995PLC094641

ECL Finance Limited NCD Debenture Trustee

Debenture Trustee
BEACON TRUSTEESHIP LIMITED
4 C&D, Siddhivinayak Chambers, Gandhi Nagar, Opp. MIG Cricket Club
Bandra (East), Mumbai- 400 051
Tel: +91 22 26558759
Email: [email protected]
Investor Grievance e-mail: [email protected]
Website: www.beacontrustee.co.in
Contact Person: Mr. Vitthal Nawandhar
SEBI Registration Number: IND000000569
CIN: U74999MH2015PLC271288

ECL Finance Limited NCD Registrar to offer

Registrar to the Offer
LINK INTIME INDIA PRIVATE LIMITED
C- 101 1st Floor 247 Park LBS Marg, Vikhroli (West)
Mumbai 400083 Maharashtra, India
Tel: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Investor Grievance mail: [email protected]
Website: www.linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan
Registration Number: INR000004058
CIN: U67190MH1999PTC118368

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 2


ECL Finance Limited NCD News

News 1 – Download DRHP Prospectus


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