L&T Finance has announced the allotment of Senior, Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) worth ₹10,500 crore through private placement. The NCDs have a face value of ₹1,00,000 each and were allotted to an identified investor on October 10, 2025. These debentures are proposed to be listed on the National Stock Exchange of India Limited.
NCD Allotment Details
L&T Finance has allotted Senior, Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) on a private placement basis. A total of 1,05,000 NCDs were allotted, with each debenture having a face value of ₹1,00,000. The total value of the NCDs allotted amounts to ₹10,500,00,00,000 (Rupees One Thousand and Fifty Crores Only).
Key Terms of the Debentures
The NCDs are Senior, Secured, Rated, and Listed, and are redeemable. The initial offering included 55,000 NCDs with an option to retain oversubscription up to 55,000 NCDs, allowing for a total issue size of up to ₹1100 crore. These NCDs were allotted to an identified investor on October 10, 2025, and are proposed to be listed on the New Debt Market segment of the National Stock Exchange of India Limited.
Tenor and Maturity
The original tenor of the debentures is 1127 days. The maturity date for the NCDs is November 10, 2028.
Coupon Rate and Payment Schedule
The coupon rate for these NCDs is set at 7.2190% p.a. The first coupon payment is scheduled for November 10, 2025, and subsequent payments will be made annually. Each debenture will receive annual coupon payouts of ₹7,219.0000, except for the initial short period coupon of ₹613.1205.
Principal Repayment
The principal amount of ₹1,00,000.0000 per NCD will be repaid on November 10, 2028, coinciding with the maturity date.
Security and Charge
The debentures are secured by an exclusive and first-ranking charge via hypothecation on identified fixed deposits and/or standard receivables of L&T Finance. The value of these hypothecated assets will be equivalent to 1 time the principal amount and any outstanding coupon payments.
Redemption Details
The NCDs will be redeemed at a price of ₹1,00,000 per NCD on the maturity date.
Source: BSE
