|Issue Date||16/12 - 17/12|
|Issue Size||Rs. 5000.00 Cr|
|Issue Price||Rs. 1000|
|Rating||CRISIL AAA/Stable, CARE AAA/Stable, IND AAA/Stable|
|Tenor||36 months/ 60 months/ 84 months|
|Series||Series I to Series VI|
|Payment Frequency||Monthly, Annual and Cumulative|
|Basis Of Allotment||First Come First Serve Basis|
L&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 and infrastructure 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 3 UTs.
L&T Finance Ltd is coming up with the 1st tranche of public issue of secured, redeemable non-convertible debentures of face value of Rs 1,000 each for an amount of Rs 500 Crore (“Base Issue Size”) with an option to retain oversubscription up to Rs 1000 Crore (totaling Rs.1,500 Crore) within the Shelf limit of Rs. 5,000 Crore.
The issue will open for subscription from December 16, 2019 to December 30, 2019 (The Issue shall remain open for subscription during the period indicated above except that the Issue may close on such earlier date or extended date as may be decided by an Authorised personnel authorized by the Board of Directors of the Company ("Board"). The company will be paying an interest ranging between 8.25% and 8.65 % p.a. on these bonds.
The NCDs proposed to be issued under this Issue have been rated “CRISIL AAA/Stable”, CARE AAA and IND AAA / Stable”. Instruments with this rating are considered to have highest degree of safety regarding timely servicing of financial obligations. Such instruments carry very lowest credit risk.
L&T Finance Ltd NCD will open on 16/12 and close on 17/12.
The issues price of L&T Finance Ltd NCD is Rs.1000.
The lot size of L&T Finance Ltd NCD is 10.
The Rating of L&T Finance Ltd NCD is CRISIL AAA/Stable, CARE AAA/Stable, IND AAA/Stable.
The Tenor of L&T Finance Ltd NCD is 36 months/ 60 months/ 84 months.
The Series of L&T Finance Ltd NCD is Series I to Series VI.
The Payment Frequency of L&T Finance Ltd NCD is Monthly, Annual and Cumulative.
The Basis of Allotment of L&T Finance Ltd NCD is First Come First Serve Basis.