Larsen & Toubro Limited has announced the successful allotment of 50,000 Non-Convertible Debentures (NCDs) valued at ₹1 lakh each, totaling ₹500 crore. These NCDs, carrying a 7.40% annual interest rate, are listed, rated, unsecured, and redeemable. Notably, the issuance is in a tokenized form, utilizing a Distributed Ledger Technology (DLT)-based platform of NSDL. The NCDs mature on September 9, 2029.
Larsen & Toubro Completes Tokenized NCD Issuance
Larsen & Toubro Limited has successfully completed the allotment of 50,000 Non-Convertible Debentures (NCDs) with a face value of ₹1 lakh each. This private placement issue aggregates to a total of ₹500 crore. The securities are described as listed, rated, unsecured, and redeemable, bearing an annual interest of 7.40%.
Innovative Tokenization and Terms
A key highlight of this issuance is the adoption of tokenization. The NCDs are being issued in a tokenized form, leveraging a Distributed Ledger Technology (DLT)-based platform managed by NSDL. This represents a step towards modernizing financial instrument issuance.
The tenure of these NCDs is 3 years, with the allotment taking place on September 9, 2026, and maturity scheduled for September 9, 2029. Interest payments will be made on an annual basis. The company intends to list these debentures on the National Stock Exchange of India Limited.
Detailed disclosures regarding the issue, as required by SEBI Listing Regulations, are provided in Annexure A of the announcement.
Source: BSE
