L & T FINANCE NCD DETAILS

Investment Details

Options I II III IV Interest Payment Quarterly Semi - annual Cummulative Semi - annual Min Application (Rs) Rs 10,000 /- (Retail) Rs 10,100 /- (HNI) Rs 10,000 /- (Retail) Rs 10,100 /- (HNI) Rs 10,000 /- (Retail) Rs 10,100 /- (HNI) Rs 10,000 /- (Retail) Rs 10,100 /- (HNI) Face Value Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Multiples Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Coupon Rate 9.51% p.a. 9.62% p.a 9.95% Compounded annually 10.24% p.a Yield on Redemption 9.85% 9.85% 9.95% 10.50% Tenure 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. Rs.2,005/- per NCD Face value plus any interest that may have accrued payable on redemption.

Issue: 50,00,000 NCDs of Rs.1,000/- each aggregating to Rs.500 Crores with an option to retain over-subscription upto Rs.500 Crores for issuance of additional NCDs, aggregating upto a total of Rs.1,000 Crores.

Stock Exchanges proposed for listing: NSE. Issuance and trading In Demat form only. Depository NSDL and CDSL. Rating(s) CARE AA+ by CARE and LAA+ by ICRA.

Issue Schedule – 18th August’09 – 4th September’09 Deemed Date of Allotment Deemed date of allotment shall be the date of issue of the letter of allotment. Min. Application Money Rs. 10,000 and in multiples of Re. 1,000 thereafter. Interest Payment Quarterly Option, Semi-annual Option, Cumulative Option, Semi-annual Option. Tenor 60 months, 91 months, 120 months respectively. RECOMMENDATION:- APPLY

Tata Capital NCD issue oversubscribed

Hurry guys.....Tata Capital’s public issue of non-convertible debentures (NCDs) has received an oversubscription of about Rs 800 crore till Friday on the back of participation from high networth individuals (HNIs) and institutions. The issue that opened on February 2 closes on Tuesday.
According to a source familiar with the development, the company has received a subscription of Rs 2,300 crore till Friday.

“Nobody, including the bankers to the issue, expected such a good response,” said the source.
The company has so far received about 75,000 applications from retail investors against the limit of 100,000 applications. The participation of retail investors is expected to inch closer to the limit on the last two days of the issue.

The company is offering 12 per cent per annum for the annual and cumulative interest payment options.

TATA Capital NCD -Tata Capital NCD to offer 12 % p.a.interest

Tata Capital NCDTata Capital informed the market that they are raising Rs 500 crore through a non-convertible debenture issue,which has already opened on February 2nd 2009 and it will be open till February 24th 2009 .they will be allowed to retaining up to 1000 crore if it get over subscribed by more then 500 crore.
Open Date : February 2 2009
Close Date : February 24, 2009
Interest : 12 Percent Varies based on the Monthly or Quarterly Interest.
Redemption : In 5 years,put and call options offered to investors at the expiry of 36 months and 42 months.
Minimum Amount : 10,000The minimum application amount is Rs 10,000 for the quarterly, annual and cumulative interest payment options (coupon rate of 12 per cent an annum); and Rs 1 lakh for the monthly interest payment option (coupon rate of 11.25 per cent an annum).

Fund Usage :Tata group in turn will use the proceeds of the issue for its business growth and a repay existing costlier debt, this is good for the tata group and not sure for the tata capital how they will repay.Credit RatingHigh credit rating of “LAA+” by ICRA and “CARE AA+” by CAREFinal Highlights
• Interest at the rate of 12% per annum is offered for the annual and cumulative interest payment options.• Quarterly interest payment option to offer a coupon rate of 11.25% per annum with an annualized yield of 11.73%.o For the quarterly, annual and cumulative interest payment options the minimum application size is Rs 10,000 and additional investments in multiples of Rs 1,000.• Monthly interest payment option to offer a coupon rate of 11% per annum with an annualized yield of 11.57%. The minimum application size is Rs 100,000 and additional in multiples of Rs. 100,000• Interest on application money at the rate of 8% p.a. to be paid from the date of realization of the cheque or 5 days after the date of application, whichever is later, upto one day prior to the deemed date of allotment.