L&T Finance Ltd launched Public Issue of Secured redeemable Non-Convertible Debentures , Base issue size of 500 Cr with an option to retain over subscription up to the 1000 Cr aggregating up to 1500 Cr. (Tranche I Issue Limit) . Issue open from 16 Dec 2019 and issue close on 30 Dec 2019 (Early Close 17 Dec 2019). The company has come with attractive interest rates between 8.45% and 8.65% for retail investor.
About Issue: 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.
Issuer L&T Finance Ltd Type of Instrument Secured Redeemable, NCD Issue Open 14 Dec 2019 Issue Close 30 Dec 2019 (with option of early closure or extension) Issue Size 500 Cr. with an option to retain oversubscription of 1000 Cr. Face Value Rs. 1,000 Min. Application Size 10 Bonds (Rs.10000) & multiply of 1 NCD thereafter (across all series NCD) Interest Monthly,Annually , Cumulative Option Mode of Allotment D'mat Account Only Rating CRISIL AAA/stable & CARE AAA/stable & IND AAA/stable (India Rating) Listing BSE/NSE
Specific Term of Issue – Options I II III IV ** V VI Tenor 36 Months 36 Months 36 Months 60 Months 60 Months 84 Months Base Coupon - Cat I & II 8.25% NA 7.96% 8.45% 8.15% 8.50% Base Coupon Cat III & IV 8.45% 8.15% 8.60% 8.29% 8.65% Interest Payment Annual NA Monthly Annual Monthly Annual Effective Yield Category I & II 8.24% 8.25% 8.25% 8.44% 8.45% 8.49% Effective Yield Category III & IV 8.44% 8.45% 8.45% 8.59% 8.60% 8.64%
Company Website Link
Review / Recommendation
- The Company has good fundamentals.
- Investor who are looking something more than FD can surely good to invest in this NCD.
- Invest small portion & short period in any NCD issue through company financial are strong.
L&T Finance Ltd – Issue Subscription Data – Dt- 16-12-2019
| Category | Issue Size | Subscribe | Unsubscribe | No of Times |
| Cat – I | 150 Cr | 20.03 Cr | 129.97 Cr | 0.13 |
| Cat – II | 150 Cr | 55.52 Cr | 94.48 Cr | 0.37 |
| Cat – III | 525 Cr | 593.71 Cr | – 68.71 Cr | 1.13 |
| Cat – IV | 675 Cr | 531.26 Cr | 143.74 Cr | 0.79 |
| Total | 1500 Cr | 1200.52 Cr | —- | 0.80 |
L&T Finance Ltd – Issue Subscription data
L&T Finance Ltd NCD Issue Allotment & Listing details :
Registrar Link Intime- Allotment Link
For Investment & any query , Kindly Write to us at
Call Rajendra 7719917444