This entry is part 3 of 3 in the series NCD - ECL

Public Issue of Secured Redeemable Non- Convertible Debentures of Rs. 10,000 Lacs with an option to retain over subscription upto Rs.800 crs by ECL Finance Limited (CREDIT RATING: CARE AA’ [Double A] by CARE ,‘[ICRA] AA (Stable)’ by ICRA)

 Product Note

ECL Finance Limited NCD Issue Highlights:

IssuerECL Finance Ltd
Type of InstrumentSecured Redeemable, NCD
Issue Open26 February 2015
Issue Close16 March 2015
Issue SizeRs.800 Crs (including oversubscription)
Face ValueRs. 1,000 per Bond
Min. Application Size10 NCDs i.e. Rs. 10000/‐
Interest Monthly,Annually & Cumulative
Mode of AllotmentD'mat as well as Physical Form
RatingCARE AA’ [Double A] by CARE,‘[ICRA] AA (Stable)' by ICRA
ListingBSE & NSC

 Specific Term of Issue:

Tenure36 Months36 Months36Months60 Months60 Months60 Months
Frequency MonthlyAnnual Cumulative Monthly Annual Cumulative
Coupon (%) for NCD Holders in Category I, Category II and Category III10.00%10.45%NA10.15%10.60%NA
Effective Yield of NCD Holders in Category I, Category II and Category III (per annum)10.47%10.45%10.45%10.64%10.60%10.60%

 

ECL nce-Feb15

 

 

 

 

 Cheque Details :

Cheque / DD should be drawn in favour of  “ECL Finance ‐ NCD Escrow Account  “ by all applicant

About Issue

About Company:

  • Edelweiss-ECL Finance Limited is Incorporated in July, 2005; RBI registered systemically important non‐deposit taking NBFC
  • Products include Corporate Finance, loans against property, loan against marketable securities, Real Estate Finance Loans, Public Issue Financing, SME Finance and Structured Finance
  • A part of the Edelweiss Group which is one of India’s prominent financial services organization having businesses organized around four broad lines – Credit including Retail Finance and debt capital markets; Commodities; Financial Markets including Asset Management and Life Insurance services. Edelweiss Group has a pan India presence with a global footprint extending across geographies with offices in New York, Mauritius, Dubai, Singapore and Hong Kong. As on November 30, 2013, the Promoter along with two of its subsidiaries holds 92.2% of their paid up share capital.

 

WHO CAN APPLY

Category:1 :  I(Institutional)

 Reservation Portion :30% of Overall Issue Size

  • Resident Public Financial Institutions,Statutory Corporationsincluding State Industrial Development Corporations,
    Commercial Banks,
  • Co‐operative Banks and Regional Rural Banks, which are authorised to invest in the NCDs;
  • Provident Funds and Resident Pension Funds with minimum corpus of Rs. 250 million, Superannuation Funds and
    Gratuity Fund, which are authorised to invest in the NCDs;
  • Venture Capital funds and / or Alternative Investment Funds registered with SEBI;
  • Insurance Companies registered with the IRDA;
  • National Investment Fund (set up by resolution no. F. No. 2/3/2005‐DDII dated November 23, 2005 of the Government of India and published in the Gazette of India);
  • Insurance funds set up and managed by the Indian army, navy or the air force of the Union of India or by the Department of Posts, India
  • Mutual Funds, registered with SEBI;

 

Category:2: II(Non Institutional)

 Reservation Portion :20% of Overall Issue Size

  • Companies; bodies corporate and societies registered under the applicable laws in India and authorised to invest in the NCDs;
  • Educational institutions and associations of persons and/or bodies established pursuant to or registered under any central or state statutory enactment;which are authorized to invest in the NCDs;
  • Public/private charitable/religious trusts which are authorised to invest in the NCDs;
  • Scientific and/or industrial research organisations, which are authorised to invest in the NCDs;
  • Partnership firms in the name of the partners; and Limited liability partnerships
    formed and registered under the provisions of the Limited Liability Partnership Act, 2008
    (No. 6 of 2009);

 

Category:3 :III(Individual)

 Reservation Portion :50% of Overall Issue Size

  • Resident Indian individuals and
  • Hindu undivided families through the Karta;

 

STRENGTHS & STRATEGIES 

COMPETITIVE STRENGTHS & KEY STRATEGIES:

Strengths:

  • Established brand and parentage of Edelweiss Group
  • Liquid balance sheet with a track record of high growth and profitability
  • Diversified product portfolio with dedicated product management teams
  • Secured Loan Book and Strong asset quality
  • Access to range of cost effective funding sources
  • Professional and Experienced senior management team

Strategies:

  • Retail Focus: ECLF is focused on high growth, dispersed risk retail lending
  • Minimize concentration risk by diversifying the Product Portfolio and expanding our customer base
  • Optimizing returns while maintaining the quality of Loan Book
  • Improve our credit ratings to optimize cost of funds
  • Continue to Attract and Retain Talented Employees
  • Build on a scalable platform for the SME finance business
  • Achieve operations excellence by further strengthening our operating processes and risk management systems

Shareholding Pattern: 92.2% by Edelweiss Group and 7.8% by Waverly Pvt Ltd.

 Allotment Listing

Option I II IIIIVVVI
Coupon10.00%10.45%NA10.15%10.60%NA
Period36 month36 month36 month60 month60 month60 month
ISIN NoINE 804IO7ZI7 INE 804IO7ZJ5 INE 804IO7ZK3 INE 804IO7ZL1INE804IO7ZM9INE 804IO7ZN7
BSE Script 935355935357935359935361935363935365
Maturity Amt100010001347100010001655
Maturity11 Mar 201811 Mar 201811 Mar 201811 Mar 202011 Mar 202011 Mar 2020
Interest Payment1 May 20151 April 2015NA1 May 20151 April 2015NA
Frequency MonthlyYearlyCumulativeMonthlyYearlyCumulative
Notice No 20150312-36 Notice Date 12 Mar 2015
Category Company related Segment Debt
Subject Listing of Secured Redeemable Non Convertible Debentures of ECL Finance Limited
Content
Trading Members of the Exchange are hereby informed that the under mentioned securities of ECL Finance Limited are admitted to dealings on the Exchange with effect from Friday March 13, 2015 in the list of “F GROUP”.
Securities:
·         ECL Finance Limited – Secured Redeemable Non-Convertible Debentures (NCD’s)
·         Securities Information is appended as Annexure I
·         Trading Members may note that as per the guidelines issued by SEBI dated 16th February, 2000; Bonds will only be traded in dematerialized form. Trades effected in this scrip will be in unit market lot (i.e. One Bond).
·         The financial year of ECL Finance Limited ends on the 31st March.
·         The address and contact details of the Company are as below:
·         Registered Office: Edelweiss House, Off. C.S.T Road , Kalina, Mumbai 400098
              Tel: +91 22 4009 4400; Fax: +91 22 4086 3661; Website: www.edelweissfin.com
·         Given below is the address and contact details of the Registrar and Share Transfer Agents:
        Link Intime India Private Limited.
        C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West) , Mumbai 400 078
        Tel.: +91 22 25960320 ; Fax :+91 22 25960329 ; Email : ecl.ncd@linkintime.co.in
·         In case Trading Members require any clarification on the subject matter of this notice, they may contact:
I)      At ECL Finance Limited:
Mr. Tarun Khurana(Company secretary & Compliance Officer)
Tel.: +91 22 4009 4400; Fax: +91 22 4086 3661; E-mail: Eclfdebtipo@edelweissfin.com