Invest in L&T FINANCE NCD Issue, CARE AA+ by CARE, Rs. 1000/ NCD, Call @ 9818269396

L&T FINANCE LIMITED

 

PUBLIC ISSUE OF Rs 500CRORES

 

Company Overview

L&T Finance Limited (LTF) is one of the wholly owned subsidiaries of Larsen and Toubro. It was incorporated as a Non Banking Finance Company in November 1994as a public limited company under the Companies Act, 1956, to provide a range to provide a range of financial services. The Company began by financing the small and medium enterprises and later synergised with the opportunities provided by L&T ecosystem consisting of its subsidiaries and associates along with its large network of dealers, vendors, suppliers, clients etc. It is now evolved into a multi product asset backed finance company with a diversified corporate and retail portfolio.   Company's strengths: • Diversified and Balanced mix of businesses and customers • Portfolio Quality • Respected brand arising out of our parentage • Experienced Management Team • Controls, processes and risk management systems • Commitment from L&T • Adequately Capitalized • High credit ratings   Financial Summary
Particulars	2007-08	2008-09
Asset	514,404.83	553,854.9
Revenue	60,606.19	83,027.67
PAT	16,135.20	14,536.10

(Rs. in lakhs)

 

ISSUE DETAILS

 

Issuer	L & T Finance Limited
Issue	50,00,000 NCDs of Rs.1,000/- each aggregating to Rs.500Crores with an option to retain over-subscription upto Rs.500Crores for issuance of additional NCDs, aggregating upto a total of Rs.1,000Crores
Stock Exchanges proposed for listing of the NCDs	NSE
Issuance and trading	In Demat form only
Depository	NSDL and CDSL
Security	Security will be created for the purposes of this Issue as per the Debenture Trust -cum - Mortgage Deed.
Rating(s)	CARE AA+ by CARE and LAA+ by ICRA
Issue Schedule*	Issue Opening Date: 18 August 2009 and Issue Closing Date: September 4 2009
Face Value of NCD	Rs. 1000/ NCD

 

 

INSTRUMENT STRUCTURE

Option	I	II	III	IV
Interest Payment	Quarterly	Semi-annual	Cumulative	Semi-annual
Minimum Application (Rs.)	10,000/- (Retail) 1,01,000/- (NIIs & QIBs	10,000/- (Retail) 1,01,000/- (NIIs & QIBs	10,000/- (Retail) 1,01,000/- (NIIs & QIBs	10,000/- (Retail) 1,01,000/- (NIIs & QIBs
Multiples (Rs.)	1,000/-	1,000/-	1,000/-	1,000/-
Face Value (Rs.)	1,000/-	1,000/-	1,000/-	1,000/-
Mode of Interest Payment	Through various options available*	Through various options available*	Through various options available*	Through various options available*
Coupon Rate	9.51% p.a.	9.62% p.a.	9.95% p.a. compounded annually	10.24% p.a.
Yield on Redemption	9.85% p.a.	9.85% p.a.	9.95% p.a.	10.50% p.a.
Tenor	60 months	60 months	88 months	120 months
Redemption Date / Maturity Period	60 months from the deemed date of allotment	60 months from the deemed date of allotment	88 months from the deemed date of allotment	120 months from the deemed date of allotment
Redemption Amount	Face value plus any interest that may have accrued payable on redemption.	Face value plus any interest that may have accrued payable on redemption.	Face value plus any interest that may have accrued payable on redemption.	Face value plus any interest that may have accrued payable on redemption.

 

 

ISSUE STUCTURE

 

Particulars	Retail	NII	QIB
Reservation for each category	Upto 35% of issue size (Rs.350 Crores for allotment to retail assuming Issue size of Rs.1,000Crores)	Upto 30% of issue size (Rs.300Crores for allotment to NII assuming Issue size of Rs.1,000Crores)	Upto 35% of issue size* (Rs.350Crores for allotment to QIB assuming Issue size of Rs.1,000Crores)
Minimum number of NCDs per application	10 NCDs (Rs.10,000/-)	101 NCDs (Rs.1,01,000/-)	101 NCDs (Rs.1,01,000/-)
Terms of Payment	Full amount on application	Full amount on application	Full amount on application
Mode of allotment	Compulsorily in dematerialized form	Compulsorily in dematerialized form	Compulsorily in dematerialized form
Trading Lot	One NCD	One NCD	One NCD

 

For more informations, Delhi-NCR people please call us @ 0-9818-26-9396