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Let’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

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
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

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
Investor Grievance Email:grievance@ctltrustee.com
Contact Person:Ms.Rakhi Kulkarni
SEBI Registration No.:IND000000034

L&T Finance Limited NCD Registrar to offer

Registrar to the Offer
C-101 1st Floor 247 Park
LBS Marg, Vikhroli (West)
Mumbai 400083, Maharashtra, India
Tel:+91 22 4918 6200
Fax:+91 224918 6195
Investor Grievance mail:ncd.ltfin2019@linkintime.co.in
Website: www.linkintime.co.in
Contact Person:Mr. Shanti Gopalkrishnan
Registration Number:INR000004058

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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