Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

L&T Finance Limited's public issue of Secured NCDs oversubscribed on day one

Posted On: 2019-04-10 17:22:33

L&T Finance Limited (a wholly owned subsidiary of L&T Finance Holdings Limited) has announced the early closure of its public issue of secured NCDs. The issue was oversubscribed on day one of opening of Tranche 2 Issue on April 8, 2019. The Company raised a total of Rs.3238.48 crore worth of subscriptions which is 6.48 times of the base issue size (Rs. 500 crore). All categories of the base issue size were over-subscribed i.e. Institutional, Non-Institutional, HNIs and Retail investors' participation in the Tranche 2 Issue led to an oversubscription of 5.33 times, 2.23 times, 8.86 times and 5.82 times in respective categories as on the early closure date of April 9, 2019. (Source: Stock Exchange bid data as on 5pm).

The second tranche of the issue included a base issue size for an amount of Rs. 500 crore with an option to retain oversubscription up to Rs. 500 crore aggregating up to Rs.1,000 crore. These NCDs have been rated [ICRA] AAA (stable), CARE AAA / Stable and IND AAA / Stable.

The NCD issue is another step in the company's overall strategic intent of building a retail liability franchise and will further add to the diversity of the borrowing mix in the already diversified liability profile.

*The issue has been oversubscribed based on subscription figures available on the electronic platform of BSE & NSE as on April 9, 2019. For detailed terms & conditions please refer Shelf Prospectus dated February 22, 2019, and Tranche 2 Prospectus dated March 28, 2019. Allotment in the public issue of debt securities should be made on the basis of date of upload of each application into the electronic book of the stock exchange. However, on the date of oversubscription, the allotments should be made to the applicants on proportionate basis. For further details on Allotment, kindly refer the Tranche 2 Prospectus dated March 28, 2019.

Pursuant to Tranche 2 Prospectus dated March 28, 2019, the Tranche 2 Issue, which opened on April 8, 2019 and was scheduled to close on April 18, 2019, may close on such earlier date or extended date as may be decided by the authorised signatory(ies) as authorised by the Board of Directors of the Company pursuant to the resolution dated July 19, 2018 ("Authorised Personnel"). The Company has exercised the option of early closure and the Authorized Personnel of the Company has vide letter dated April 8, 2019 decided to close the Tranche 2 Issue on Tuesday, April 9, 2019. For detailed terms and conditions refer to the Shelf Prospectus dated February 22, 2019, and Tranche 2 Prospectus dated March 28, 2019.

The first tranche of the NCD was oversubscribed on day one of issue opening on March 6, 2019. The Company, then, raised a total of Rs. 2228.06 crore worth of subscriptions which is 4.45 times of the base issue size (Rs. 500 crore). HNIs and Retail investors' participation in the Tranche 1 Issue led to an oversubscription of 6.64 times and 6.68 times in respective categories as on the early closure date of March 7, 2019.

Shares of L&T FINANCE HOLDINGS LTD. was last trading in BSE at Rs.145.45 as compared to the previous close of Rs. 147.85. The total number of shares traded during the day was 593944 in over 3942 trades.

The stock hit an intraday high of Rs. 149.35 and intraday low of 145.1. The net turnover during the day was Rs. 87516102.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Adani Defence Systems and Technologies Ltd acquires Alpha Design Technologies Pvt Ltd

Shilpa Medicare Ltd receives US FDA approval for Busulfan Injection

Indag Rubber Ltd Board recommends Final Dividend of Rs. 1.50 for 2018-19

Avantel Limited bags order from Boeing

Shilpa Medicare Ltd receives EIR from USFDA for R&D unit at Modavalasa

HDFC Bank Ltd Board recommends Dividend of Rs. 15 for 2018-19

HDFC Bank announces Q4, FY2018-19 results

Indag Rubber Ltd Q4 PAT slides to Rs. 1.91 crore

SVP Housing Ltd updates on changes in board

Kridhan Infra Ltd appoints Ms. Rajeshree Mishra as CFO

NELCO Ltd board to approve dividend, Q4, FY19 results on April 27, 2019

Shilp Gravures Ltd board to consider FY19 results on April 27, 2019

Gravita Tanzania Ltd commences Commercial Production of Lead from its Plant situated at Tanzania, East Africa

Maithan Alloys Ltd board to announce Q4, FY19 results on April 30, 2019

HDFC Bank Ltd reports net profit of Rs. 22332.44 crores in FY 2018-19

Syngene International Ltd board to consider bonus issue on April 24, 2019

Reliance Industries updates on cash payment for oil supplies to PDVSA

SKP Securities Ltd board to consider Q4, FY19 results on April 27, 2019

HDFC Bank Ltd reports net profit of Rs. 22445.62 crores in FY 2018-19

Alicon Castalloy announces Q4 & FY19 Earnings

Tata Coffee Limited announces results for Q4 and FY 2018-19

Wipro Ltd clarifies on cyber attack

Majesco crushes attendance records at Convergence 2019

Wockhardt Ltd board to consider financial results, fund raising on May 6, 2019

Reliance Capital terms rating action by Brickwork as unjustified and inappropriate

Raymond Limited board to approve Q4, FY19 results, dividend on April 30, 2019

KPR Mill Ltd board to consider FY19 results, dividend and buy back

UN extends contract of Trigyn Technologies Inc for another 6 months

DCM Shriram Limited board to announce Q4, FY19 results on May 1, 2019

Deltron Ltd Board to consider Dividend on April 26, 2019

Kirloskar Ferrous Industries Ltd board to approve Q4, FY19 results on May 3, 2019

Sadhana Nitro Chem Ltd revises record date as May 3, 2019 for interim dividend

Tata Coffee Ltd board approves Dividend of Rs. 1.50 for 2018-19

Alicon Castalloy Limited Board recommends Final Dividend of Rs. 5 for 2018-19

Johnson Controls-Hitachi Air Conditioning India Ltd calls for board meeting on May 16, 2019

Thangamayil Jewellery Ltd to open two new branches on April 26, 2019

Asian Granito India Ltd forays into Sanitaryware

Victoria Mills Ltd Board to consider Dividend on May 2, 2019

USFDA classified as VAI for Dr. Raddy's Laboratories Ltd's Forumulations Plant

Shiva Cement Ltd calls for board meeting on April 23, 2019

CRISIL reaffirms rating of Indo National Ltd

Intellect recognized as a Leader for Worldwide End-to-End Corporate Banking Solution Providers 2019 by IDC MarketScape

Trent Ltd Board to consider FY19 results & Dividend on April 29, 2019

Borosil Glass Works Ltd makes additional investment in Klasspack

TATA Coffee Ltd consolidated Q4 FY19 net profit drops to Rs. 10.49 crores

Alicon Castalloy Ltd Q4 FY19 consolidated PAT jumps to Rs. 15.89 crores

Orient Electric Ltd board to announce Q4, FY19 results, dividend on April 30, 2019

Majesco announces ready-to-use partner apps in Majesco Digital1st EcoExchange™

Timex appoints Ajay Dhyani as the Head Marketing

Bajaj Finance Ltd launches five digitally-enabled Fixed Deposit service branches in Pune







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019