L&T Finance has successfully allotted 50,000 senior, secured, rated, listed, redeemable, non-convertible debentures with a face value of ₹1,00,000 each. The total nominal value of this allotment amounts to ₹500 crore. These debentures were issued on a private placement basis and are intended to be listed on the Negotiated Trade Reporting Platform (NTRP). The allotment took place on September 02, 2026.
L&T Finance Completes Private Placement of NCDs
L&T Finance Limited announced today the allotment of 50,000 non-convertible debentures (NCDs). These debentures are classified as senior, secured, rated, listed, and redeemable, issued on a private placement basis. The face value of each NCD is ₹1,00,000 (Indian Rupees One Lakh), bringing the total aggregate nominal value of the allotted securities to ₹500 crore (Rupees Five Hundred Crores).
The allotment, completed on September 02, 2026, represents a key capital-raising exercise for the company. The debentures were issued in dematerialized form for cash. The company also retains an option to oversubscribe up to an additional ₹500 crore.
Key Terms of the Allotment
The newly allotted debentures will be listed on the Negotiated Trade Reporting Platform (NTRP) under the New Debt Market of the National Stock Exchange of India Limited. The original tenor for these debentures is 1179 days, with a residual tenor of 1122 days. The maturity date for these NCDs is set for September 28, 2029.
The coupon rate for these debentures is fixed at 7.8384% per annum. The first coupon payment is scheduled for September 28, 2026, with subsequent payments to be made annually thereafter. The principal repayment is scheduled for September 28, 2029, with the NCDs to be redeemed at their face value of ₹1,00,000 per NCD.
Security and Risk Mitigation
The debentures are secured by an exclusive and first-ranking charge. This charge is established through hypothecation over identified fixed deposits of the Issuer and/or identified standard receivables. The value of these hypothecated assets is equivalent to 1 time the principal amount and outstanding coupon. In the event of a delay in interest or principal payments exceeding three months, an additional interest of 2% per annum over the coupon rate will be payable by the company.
Source: BSE
