L&T Finance NCD - Feb 2010
Larsen and Toubro (L&T) Finance Limited has announced the public issue of secured listed redeemable Non Convertible Debentures (2010 A Series). L&T Finance will issue NCDs aggregating Rs. 250 Crores with an option to retain over-subscription up to Rs. 250 Crores for issuance of additional NCDs, aggregating to a total of up to Rs. 500 Crores. Following are the main details of the issue-
Check Allotment Status
- Start Date: 09-Feb-2010
- End Date: 22-Feb-2010
- Rate: Rs. 1,000/-
- Stock Exchange: NSE, BSE
- Depository: CDSL and NSDL
- Ratings: ‘CARE AA+’ by CARE and ‘LAA+’ by ICRA
- Security: Security will be created for the purpose of this Issue as per the Debenture Trust - cum - Mortgage Deed
- Trading: In Demat form only
- Trading Lot: 1 NCD
|
Option |
I |
II |
|
Interest Payment |
Semi-annual |
Annual |
|
Face Value (Rs.) |
1,000/- |
1,000/- |
|
Coupon Rate |
8.40% p.a. |
8.50% p.a. |
|
Yield on Redemption |
8.58% |
8.50% |
|
Tenor |
36 months |
36 months |
|
Redemption Date / Maturity Period |
36 months from the date of allotment |
36 months from the 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 |
|
Interest on refunds |
2.50% p.a. |
2.50% p.a. |
|
Interest on application money on which allotments are made |
7.00% p.a. |
7.00% p.a. |
To invest in L & T Finance company NCD, mail at contactus@moneyvriksh.com or visit www.moneyvriksh.com/investnow . To order Forms, email us at given email-id.
Discuss with other investors or tell your opinion on our Investment Discussion Forum
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Isn’t it better to buy the NCD that was launched last year from secondary market?
it will give better returns as the coupon rate is around 10.5% for 10 yr option
Hi Ashish,
You are absolutely right for investment horizon of 10 years, but this scheme is for 3 years deposit only. From secondary market, you’ll get NCD N3 at approx Rs. 1147 with coupon rate of 10.24%. So, yield in 3 years will be less than 8.5%.
However, as already stated, for longer term, it’s better to buy from secondary mkt.
How u compare L&T Ncd with Fixed deposites of Tata motores OR Mahindra finance ?
Ramesh,
Tata motors is offering 8.75% interest and M&M Finance is offering 9% interest. but what L&T Finance NCD is offering is liquidity and may be listing premium.
The L&T NCD offered in September 2009 is quoting at 1145 , i.e., 14.5% appreciation in just few months.
Investors should make choice according to their needs. If you want to hold NCD for 3 years, it’s better you invest in FD, but if you are planning to exit from it within months or say 1 year, go for it as it might deliver several percentage points higher return than FDs
TATA Cap NCD’s(option 3 annual 12%) are ex dividend today…at cmp of 1150 odd the yeild is over 10%/annum…
Hi,
How much an investment of Rs. 10000/- will grow in both the options?
Can I NRI’s invest in this scheme?
@Sachin
It is not compounded scheme. You will get interest in annually or semi-annually.
The yield is mentioned above.
@Roshan,
NRIs cannot invest in NCD. Recently United Spirits Limited has relaunched fixed deposit for NRIs. It is offering 11.00-11.15% interest to NRI.
Mail at fd@moneyvriksh.com for its details.
Referring to Ashish’s comment about TataCap N3 at current preice of 1150, giving 10.4% yield, please consider the erosion of premium of Rs. 150 over the remaining tenure as on maturity you will only get the basic Rs. 1000. Considering this the effective return on a 3 year period is less than 7%!
kamal, i missed capital erosion point, thanks for the information
allotment out
when is listing
Hi Tejas,
Where did you checked the allotment? It’s not available on L&T ncd registrar’s website
i got message frm cdsl
l&t allotment status available at site shareproservices.com
Hi Tejas. Thanks for the info.
Allotment is done prior to allotment status is available on website.
We have already mentioned link to check allotment status in above post
please provide date of l&t ncd listing on nse.
Hi Rajeev, Its already listed. The listing is extremely bad to say the least
Where can we check the listing status or the current price at which it is listed…
Hi Amit,
You can check NCD price on NSE’s website. The direct link is click here
2010 series are N5 and N6
i have l&t ncd N4 series and i have not yet got the interest warrant,
did any body get it?
is it by cheque or ECS?
Hi,
when is the Shriram transport NCD issue opening. And what are the options?
Hi Suprio, Check Here the details of Shriram Transport Finance NCD 2010
bought 10 debentures 2010, option2, not received any receipt or any letter, nor interest warrent or ECS.WHICH SERIES IS IT N5 OR N6
Hi
in the n5 option what is the date of allotment and on what dates will the interest be payable?
I am asking this to check how much is the interest accrued on the listed securities.
Regards
what is the interest of l&t ncd of 2009.
hey please give the reply fast.
@Shah Anuj,
Check http://www.moneyvriksh.com/blog/?p=416