L&T Finance Limited has informed the Exchange regarding allotment of 100000 debentures pursuant to Non Convertible debentures at its meeting held on July 15, 2025
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L&T Finance Limited has allotted 1,00,000 Senior, Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis, aggregating to Rs. 1,000 Crores. Each debenture carries a face value of Rs. 1,00,000 and offers a coupon rate of 7.12% per annum, payable annually. The NCDs have a tenor of 730 days (about 2 years), maturing on July 15, 2027, with principal repayment due at maturity. The issue is secured by a first-ranking charge over identified fixed deposits and standard receivables of the company at 1x cover. The debentures are proposed to be listed on the NSE New Debt Market (NTRP).
This Rs. 1,000 Crore NCD raise expands L&T Finance's debt portfolio at a competitive 7.12% coupon, likely to support its lending operations. For equity shareholders, this is routine liability building with a manageable 2-year repayment schedule, but it adds to overall leverage.