L&T Finance Limited NCD Dates, Size, Allotment, Subscription, DRHP & more
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the L&T Finance Limited NCD release date, NCD issue size, subscription, L&T Finance NCD allotment and other details like the company’s background, its financial positions, its promoters and other related things.
L&T Finance Limited NCD – March 2019 Detail
| Credit Rating | [ICRA] AAA (stable) by ICRA, CARE AAA / Stable by CARE and IND AAA / Stable by India Ratings |
| Issue Open | March 6, 2019 |
| Issue Close | March 20, 2019 |
| Issue Size (Base) | Rs. 50,000 lakhs |
| Issue Size (Shelf) | Rs. 1,50,000 lakhs |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE,NSE |
| Tenor | 37 months/ 60 months/ 120 months |
| Series | Series I to Series VI |
| Payment Frequency | Monthly and Annual |
| Basis of Allotment |
L&T Finance Limited NCD – Basis of the Offer Price
| ISSUE STRUCTURE | |
| Security Name | Secured, Non-Convertible Debentures and Unsecured NCDs |
| Security Type | Secured, Non-Convertible Debentures and Unsecured NCDs |
| Coupon payment frequency | Monthly and Annual |
| Coupon type | Fixed |
| Tenor | 37 months/ 60 months/ 120 months |
| Depository | NSDL and CDSL |
| Disbursement | SEBI Debt Regulations |
| Debenture Trustee | Catalyst Trusteeship Limited |
L&T Finance Limited NCD Dates
The opening and the closing date of L&T Finance Limited NCD is March 6, 2018 to March 20, 2019.
L&T Finance Limited NCD Subscription
| Day / Date | QIB Category 1 | NII Category 2 | HNI Category 3 | RII Category 4 | Total Subscription |
| 1st – 10th Day : till 19th Sept | |||||
| 10th – 20th Day : till | |||||
| 20th – 30th Day : till | |||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated here.
L&T Finance Limited NCD Allotment Status
Here, you can find the Allotment Status of this NCD.
L&T Finance Limited NCD Share Offering
Issue of 5,22,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. [ ] per Equity Share (including a share premium of Rs.[ ] per Equity share) aggregating Rs. [ ] lakhs.
L&T Finance Limited NCD Allocation Ratio
| NCD Allocation Ratio | |
| Category | NCD’s Allocated |
| QIB – Category 1 | 20% |
| NII – Category 2 | 20% |
| HNI – Category 3 | 30% |
| RII – Category 4 | 30% |
L&T Finance Limited NCD Offered
| NCD’s Offered | |
| Category | NCD’s Reserved |
| QIB – Category 1 | 30,00,000 |
| NII – Category 2 | 30,00,000 |
| HNI – Category 3 | 45,00,000 |
| RII – Category 4 | 45,00,000 |
| Total NCD’s | 1,50,00,000 |
L&T Finance Limited NCD Coupon Rates
| Series | I | II | III* | IV | V | VI |
| Frequency of Interest Payment | Annual | NA | Annual | Monthly | Annual | Monthly |
| Minimum Application | ₹10,000 (10 NCDs) across all Series | |||||
| Face Value | ₹ 1,000 | |||||
| In Multiples of thereafter | ₹ 1,000/- (1 NCD) | |||||
| Tenor | 37 months | 37 months |
60 months |
60 months |
120 months |
120 months |
| Coupon (% per annum) for Category I & II | 9.00% | NA | 9.10% | 8.75% | 9.20% | 8.84% |
| Coupon (% per annum) for Category III & IV | 9.10% | NA | 9.25% | 8.89% | 9.35% | 8.98% |
| Effective Yield (% per annum) for Category I &II | 9.00% | 9.00% | 9.09% | 9.10% | 9.19% | 9.20% |
| Effective Yield (% per annum) for Category III & IV |
9.10% | 9.10% | 9.24% | 9.25% | 9.34% | 9.35% |
| Mode of Interest Payment | Through various mode available | |||||
| Amount (Rs / NCD) on Maturity for Category I & II | ₹1,000 | ₹1,304.93 | ₹1,000 | ₹1,000 | ₹1,000 | ₹1,000 |
| Amount (Rs / NCD) on Maturity for Category III & IV |
₹ 1,000 | ₹1,308.64 | ₹1,000 | ₹1,000 | ₹1,000 | ₹1,000 |
| Put and Call Option | NA | NA | NA | NA | NA | NA |
L&T Finance Limited NCD Issue Object
These are the NCD Issue Objects of the company
- For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company; and
- General corporate purposes
L&T Finance Limited – Company Overview
They are one of the leading private non-banking financial services companies in India in terms of total loans outstanding, as of December 31, 2018. The Promoter is registered with the RBI as aNon-Banking Finance Company –Core Investment Company (“NBFC-CIC”) conducting business through its wholly-owned subsidiaries.
The Company is a part of the larger L&T group which is one of the leading business conglomerates in India, with presence across infrastructure, power, heavy engineering, electrical and automation, hydrocarbons, IT and technology services, financial services, project development, metallurgical and material handling, realty, shipbuilding, construction equipment, machinery and industrial products sectors.
Their rural business comprises of farm equipment finance, two-wheeler finance, and microloans. Their wholesale business initially comprised of infrastructure finance, supply chain finance and structured corporate finance. Their housing business comprises of loans against property and real estate finance.
Their operations are spread throughout India and they have 223 branches in 218cities across 21 states and 3 union territories, as of December 31, 2018. Each of their businesses are led by senior executives who are, generally, also responsible for certain organizational functions at the group level. Together, they have demonstrated the ability to manage and grow their operations.
L&T Finance Limited NCD Lead Managers
| Lead Managers |
| A. K. Capital Services Limited
Axis Bank Limited Edelweiss Financial Services Limited Trust Investment Advisors Private Limited |
L&T Finance Limited NCD Debenture Trustee
| Debenture Trustee |
| CATALYST TRUSTEESHIP LIMITED
GDA House, First floor, Plot No. 85,
S.No. 94 & 95, Bhusari Colony (Right),
Kothrud, Pune–411038
Tel:+91(020)2528 0081
Fax:+ 91(020)25280275
Email:dt@ctltrustee.com
Investor Grievance Email:grievance@ctltrustee.com
Website:www.catalysttustree.com
Contact Person:Ms.Rakhi Kulkarni
SEBI Registration No.:IND000000034
|
L&T 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 224918 6195
Email:ncd.ltfin2019@linkintime.co.in
Investor Grievance mail:ncd.ltfin2019@linkintime.co.in
Website: www.linkintime.co.in
Contact Person:Mr. Shanti Gopalkrishnan
Registration Number:INR000004058
CIN:U67190MH1999PTC118368
|
L&T Finance Limited NCD Ratings
The NCDs proposed to be issued under this Issue have been rated ‘[ICRA] AAA (stable)’ for an amount of ₹ 5,00,000 lakhs, by ICRA Limited vide their letter dated December 21, 2018 revalidated by revalidation letter dated February 1, 2019, CARE AAA / Stable for an amount of ₹ 5,00,000 lakhs, by CARE Ratings Ltd. vide their letter dated December 28, 2018 revalidated by revalidation letter dated January 31, 2019 and IND AAA / Stable for an amount of ₹ 5,00,000 lakhs, by India Ratings and Research Private Limited vide their letter dated December 31, 2018revalidated by revalidation letter dated January 31, 2019.
The rating of NCDs by ICRA, CARE and India Ratings indicate that instruments with this rating are considered to have highest degree of safety regarding timely servicing of financial obligations and carry lowest credit risk.
L&T Finance Limited NCD News
News 1 – Download RHP Prospectus
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