L&T Finance Limited has informed the Exchange regarding allotment of 25000 NCDs
LTF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
L&T Finance Limited has allotted 25,000 Senior, Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis on August 13, 2025. Each NCD has a face value of Rs. 1,00,000, taking the base issue size to Rs. 250 crores. The NCDs carry a coupon rate of 7.0826% per annum with annual coupon payments, have a tenor of 945 days, and will mature on March 15, 2028. The issue also has a green shoe option of up to Rs. 750 crores, taking the total potential issue size to Rs. 1,000 crores. The NCDs are secured by a first-ranking charge on identified fixed deposits and standard receivables of the company and are proposed to be listed on the NSE New Debt Market (NTRP).
This is a routine debt-raising move by L&T Finance to bolster its funding; there is no dilution for existing equity shareholders since these are pure debt instruments. The 7.08% coupon is in line with current market rates and the green shoe option provides flexibility to raise additional capital if needed.