L&T Finance Limited has informed the Exchange regarding allotment of non convertible debentures
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L&T Finance Limited has allotted 50 subordinated, unsecured, rated, listed, redeemable non-convertible debentures (NCDs) on a private placement basis on December 31, 2025. Each NCD has a face value of Rs. 1 crore, taking the total allotment to Rs. 50 crore, with a green shoe option to retain oversubscription up to Rs. 200 crore in total. The NCDs carry a coupon rate of 7.75% per annum payable annually, have a 10-year tenor (maturing December 31, 2035), and are proposed to be listed on the NSE New Debt Market. The NCDs qualify as Tier II capital for the company, meaning they serve as long-term subordinated debt to strengthen the capital base.
This is a routine debt-raising move to bolster Tier II capital and is unlikely to materially impact the equity stock price. For bond investors, it offers a 7.75% annual yield over 10 years on a privately placed, subordinated instrument.