L&T Finance Allots Rs. 500 Crores via Private Placement of Non-Convertible Debentures
L&T Finance Limited announced the private placement of Non-Convertible Debentures (NCDs), totaling Rs. 500,00,00,000 (Rupees Five Hundred Crores Only). The allotment of the senior, secured, rated, listed, redeemable, non-convertible debentures took place on April 21, 2026.Through the private placement, the company allotted 50,000 NCDs, each carrying a face value of Rs. 1,00,000 (Rupees One Lakh Only).
The debentures are secured by an exclusive and first ranking charge. This charge is established over the identified fixed deposits of the Issuer and/or an exclusive and first ranking charge over identified standard receivables ('Hypothecated Assets') of the Issuer.
Financial Structure of the Debentures
The NCDs, which are classified as senior, secured, rated, listed, redeemable, non-convertible debentures, feature a coupon rate of 7.7942% per annum. The debentures are scheduled to mature on June 27, 2031.The payment schedule details are as follows:
| Particulars | Details |
|---|---|
| Total Face Value Allotted | Rs. 500,00,00,000 (Rupees Five Hundred Crores Only) |
| Number of Debentures | 50,000 |
| Face Value Per Debenture | Rs. 1,00,000 (Rupees One Lakh Only) |
| Coupon Rate | 7.7942% p. a. |
| Initial Coupon Payment Date | June 27, 2026 |
| Maturity/Redemption Date | June 27, 2031 |
| Redemption Price | Rs. 1,00,000 (Rupees One Lakh Only) per NCD |
Offering Scope
The original offering details outlined a total capacity of up to Rs. 500,00,00,000 (Rupees Five Hundred Crores Only). This aggregate amount includes a base issue size of Rs. 150,00,00,000 (Rupees One Hundred and Fifty Crores Only) and an option to retain oversubscription up to a Green Shoe Option of Rs. 350,00,00,000 (Rupees Three Hundred And Fifty Crores Only).The debentures are proposed to be listed on the Negotiated Trade Reporting Platform ('NTRP') under the NewDebt Market of the National Stock Exchange of India Limited.
In the event of default in payment of Coupon Rate and/or principal redemption on the due dates, the company is liable to pay additional interest of @2% p.a. over the Coupon Rate for the defaulting period.
LTF Stock Price Movement
Today, L&T Finance Limited shares edged higher, gaining 0.91% and closing at ₹291.9. The positive momentum was supported by robust trading activity, with the equity recording a volume of 5.40 million shares today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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