L&T Finance Ltd. NCD April 2019 Public Issue Price, Date, Allotment, Rev...

L&T Finance Ltd. NCD April 2019 Public Issue Price, Date, Allotment, Reviews & StatusL&T Financial Ltd is a non-banking financial service company. It is a part of L&T group which started financial services business in 1994. L&T Financial Ltd works in the three main segments which are wholesale, rural and housing.

In rural business, it provides microloans, two-wheeler financing facility and farm equipment financing services. As on 31st Dec 2018, the advances and adjusted loans were Rs 24,122.27 cr in rural business.

In the wholesale business, the company offers structured corporate finance andinfrastructure finance. Previously the company was providing supply chain business but it was transferred to Centrum Financial Services Ltd. Now, the company only provides some portfolio maintenance activities in supply chain finance to Centrum.

In the housing business, it provides loans against real estate and property finance. The company has a PAN India presence with 223 branches across 21 states and 3UTs.

The strengths of the company are:

1. Diversified businesses

2. Strong loan procedures

3. Strong risk management framework

4. Brand recognition

L&T Finance Ltd. NCD April 2019 Detail

Issue Open Apr 8, 2019 - Apr 18, 2019

Security Name L&T Finance Ltd.

Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)

Issue Size (Base) Rs 500.00 Crores

Issue Size (Shelf) Rs 500.00 Crores

Issue Price Rs 1000 per NCD

Face Value Rs 1000 each NCD

Minimum Lot size 10 NCD

Market Lot 1 NCD

NCD Allocation Ratio

NCD's allocated in each investor category.

Category (/faq/who-can-apply-in-ncd-public-issue/544/) NCD's Allocated

Category 1 (QIB) 10 %

Category 2 (NII) 10 %

Category 3 (RII) 35 %

Coupon Rates

Coupon Rates for Eash Series

Series 1 Series 2 Series 3 Series 4 Series 5 Series 6

Frequency of Interest

Payment

Annually NA Annually Monthly Annually Monthly

Tenor 37 months 37 months 60 months 60 months 120 months 120 months

Coupon Rate (Retail)

For Category I & II/

for III & IV

9.00%/9.10% NA 9.10%/9.25% 8.75%/8.89% 9.20%/9.35% 8.84%/8.98%

Amount on Maturity

For Category I & II/

for III & IV

??1,000 ??1,304.93/??1,308.64 ??1,000 ??1,000 ??1,000 ??1,000

NCD Rating Detail

AAA rating Stable by ICRA, CARE & IND

Objects of the Issue:

1. The Company proposes to utilise the funds which are being raised through the Issue, after deducting the Issue related expenses to the extent payable by the Company ("Net Proceeds"). For the purpose of onward lending, financing, refinancing the existing indebtedness of the Company (payment of interest and/or repayment/prepayment of principal of borrowings); and

2. General corporate purposes.

Company Contact Information

L&T Finance Ltd.

Technopolis, 7th Floor,

A- Wing, Plot No. - 4, Block - BP, Sector -V,

Salt Lake, Kolkata 700 091

Phone: 033-66111800

Email: investorgrievances@ltfs.com

Website: https://www.ltfs.com 

L&T Finance Ltd. NCD April 2019 Registrar

Enam Securities Private Limited 

Enam Securities Private Limited,

8th Floor, Dalamal Towers,

Nariman Point, Mumbai - 400 021

Phone: +91-22-6638 1825

Email: ncd.ltfin2019@linkintime.co.in

Website: http://www.enam.com 

L&T Finance Ltd. NCD April 2019 Lead Manager(s)

1. A.K. Capital Services Limited 

2. Axis Bank Limited 

3. Edelweiss Capital Limited 

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