L&T Finance Limited has announced the allotment of 23,500 senior, secured, rated, redeemable, non-convertible debentures (NCDs) on a private placement basis. The aggregate nominal value of this issuance is ₹2,35,00,00,000 (Rupees Two Hundred and Thirty-Five Crores Only). These NCDs, with a face value of ₹1,00,000 each, were issued in dematerialised form for cash to identified investors on August 20, 2026. The debentures are listed on the Negotiated Trade Reporting Platform (NTRP) under the New Debt Market of the National Stock Exchange of India Limited.
L&T Finance Completes Private Placement of NCDs
L&T Finance Limited has successfully completed a private placement, allotting 23,500 senior, secured, rated, redeemable, non-convertible debentures (NCDs). The total nominal value of this issuance amounts to ₹2,35,00,00,000 (Rupees Two Hundred and Thirty-Five Crores Only). Each debenture has a face value of ₹1,00,000 (Indian Rupees One Lakh only).
Key Details of the Allotment
The allotment was made on a private placement basis, in dematerialised form, for cash. The transaction took place on August 20, 2026, with the identified investors. The company has stated that these NCDs are senior, secured, rated, listed, and redeemable.
Listing and Redemption Information
The issued debentures 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 original tenor of these debentures is 1893 days, with a residual tenor of 1772 days. The date of allotment was August 20, 2026, and the debentures are set for maturity and redemption on June 27, 2031.
Coupon Rate and Payment Schedule
The coupon rate for these NCDs is set at 7.7942% per annum. The next coupon payment is scheduled for June 27, 2027, with subsequent annual payments thereafter. The scheduled coupon payments are detailed as follows:
- June 27, 2027: ₹7,794.2000
- June 27, 2028: ₹7,794.2000
- June 27, 2029: ₹7,794.2000
- June 27, 2030: ₹7,794.2000
- June 27, 2031: ₹7,794.2000
Note: Interest payments will be rounded to the nearest rupee. In case a payment date falls on a holiday, payments will be made according to the Business Day Convention specified in the Key Information Document.
Security and Charge
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. This security aims to cover the principal amount and outstanding coupon, equivalent to one time the principal and coupon amount.
Default and Delay Provisions
In instances of default in payment of interest or principal redemption on the due dates, an additional interest of 2% per annum over the coupon rate will be payable by the Company for the defaulting period.
Redemption Details
The NCDs will be redeemed at the price of ₹1,00,000 (Rupees One Lakh Only) per NCD on the Date of Maturity.
Source: BSE
