| NCD Detail | Subscription | Allotment status |
L&T Finance NCD Dec 2019 description – L&T Finance is a leading non-banking financial services company in India. The company is part of the larger L&T group which entered into the financial services business in 1994. L&T Finance organizes its operations in three businesses:
Rural business – It comprises of farm equipment finance, two-wheeler finance and micro loans. As of 30 September 2019, its total adjusted loans and advances under our rural business were INR26,596.52 crores, with INR7,747.22 crores, INR6,008.77crores and INR12,840.53 crores of adjusted loans and advances under farm equipment finance, two-wheeler finance and micro loans businesses, respectively.
Wholesale business – The company offers structured corporate finance and debt capital markets businesses but these have been marked defocused now. As of 30 September 2019, its total adjusted loans and advances under wholesale business only comprise of infrastructure finance assets of INR7,227.35 crores.
Housing business – The business line comprises of loans against property and real estate finance. As of 30 September 2019, total adjusted total loans and advances under the housing business were INR11,258.21 crores.
The company’s operations are spread throughout India and it has 216 branches in 211 cities across 21 states and 2 union territories. In addition, it has 1337 meeting centre covering 310 districts across 16 states in India for its micro loans business. It has 22,090 employees as of 30 September 2019.
Promoters of L&T Finance Limited – L&T Finance Holdings Limited
L&T Finance NCD Dec 2019 details
| Subscription Dates | 16 – 17 December 2019 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures |
| Face Value | INR1,000 Â per NCD |
| Issue Price | INR1,000 per NCD |
| Issue Size (base) | INR500 crore |
| Issue Size (including oversubscription) | INR1,500 crore |
| Minimum Lot size | 10 NCDs |
| Market Lot | 1 NCD |
| Tenor | 36 months
60 months 84 months |
| Credit Rating | CRISIL AAA/Stable
CARE AAA/Stable IND AAA/Stable |
| Category Reservation | Category 1 (QIB): 10%
Category 2 (NII): 10% Category 3 (HNI): 35% Category 4 (RII): 45% |
| Basis of Allotment | First Come First Serve |
| Listing On | BSE, NSE |
L&T Finance NCD Dec 2019 – Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate /Effective Yield | Maturity Amount |
| Series 1 | 36 months | Annually | 8.45% | INR1,000 |
| Series 2 | 36 months | Cumulative | 8.45%* | INR1,275 |
| Series 3 | 36 months | Monthly | 8.15% | INR1,000 |
| Series 4 | 60 months | Annually | 8.60% | INR1,000 |
| Series 5 | 60 months | Annually | 8.29% | INR1,000 |
| Series 6 | 84 months | Annually | 8.65% | INR1,000 |
* represent effective yield as there is no coupon rate
Registrar of L&T Finance NCDÂ
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website:Â http://www.linkintime.co.in
L&T Finance Contact Details
L&T Finance Limited
Brindavan, Plot No. 177
C.S.T. Road, Kalina
Santacruz (East), Mumbai – 400098
Phone:Â +91 22 6212 5000
Email: [email protected]
Website:Â www.ltfs.com
