L&T Finance Limited has informed the Exchange regarding allotment of 40000 Non Convertible Debentures on June 18, 2025
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L&T Finance Limited has allotted 40,000 senior, secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) on a private placement basis on June 18, 2025. Each NCD has a face value of Rs. 1,00,000, bringing the total issue size to Rs. 400 crores, within a broader shelf arrangement that allows up to Rs. 1,000 crores including a green shoe option. The debentures carry a coupon of 8.24% per annum, payable annually, and will mature on June 16, 2027, with the principal repayable as a bullet at maturity. The instrument is secured by an exclusive first-ranking charge over identified fixed deposits and standard receivables of the company.
This is a routine fund-raising move by L&T Finance through debt markets. It diversifies the company's borrowing mix and locks in funds at 8.24% for about two years. Existing shareholders are not diluted since this is debt, not equity, and the impact on the stock should be neutral.