L&T Finance has successfully completed the allotment of 1,50,000 senior, secured, rated, listed, redeemable, non-convertible debentures. These debentures, with a face value of ₹1,00,000 each, were issued on a private placement basis for an aggregate nominal value of ₹1500,00,00,000 (₹1,500 Crores). The allotment took place on October 21, 2026, and the debentures are proposed to be listed on the Negotiated Trade Reporting Platform.
L&T Finance Completes Large Debenture Allotment
L&T Finance announced the successful allotment of a substantial series of non-convertible debentures (NCDs) on a private placement basis. The company has issued 1,50,000 senior, secured, rated, listed, redeemable, non-convertible debentures. Each debenture carries a face value of ₹1,00,000 (Indian Rupees One Lakh only).
Aggregate Nominal Value and Key Terms
The total aggregate nominal value for this issuance amounts to ₹1500,00,00,000, which translates to Indian Rupees One Thousand Five Hundred Crores Only. The allotment was finalized on October 21, 2026. The debentures are to be issued in dematerialised form for cash.
Listing and Maturity Details
These NCDs are proposed to be listed on the Negotiated Trade Reporting Platform (“NTRP”) under the New Debt Market of the National Stock Exchange of India Limited. The debentures have an original tenor of 1179 days, with a residual tenor of 1073 days. The maturity and redemption date is scheduled for September 28, 2029.
Coupon Rate and Payment Schedule
The coupon rate for these debentures is set at 7.8384% per annum. The next coupon payment is scheduled for September 28, 2027, with subsequent annual payments thereafter. The schedule indicates payments on September 28, 2027, September 28, 2028, and September 28, 2029, with the final principal redemption occurring on the maturity date.
Security and Default Provisions
The debentures are secured by an exclusive and first-ranking charge by way of hypothecation over identified fixed deposits and/or identified standard receivables of the Issuer. In the event of default in payment of interest or principal, an additional interest of 2% per annum over the coupon rate will be payable by the Company.
Source: BSE
