L&T Finance Holdings Raises Rs 500 Crore Via NCDs

L&T Finance Holdings Ltd. has raised Rs 500 crore through the issue of non-convertible debentures on Thursday.

The company allotted 50,000 NCDs, with a face value of Rs 1 lakh on a private placement basis, it said in its exchange filing on Thursday.

The issued NCDs included a base issue size of Rs 200 crore, with an option to retain oversubscription up to Rs 300 crore.

The debentures are proposed to be listed on the WDM segment of the National Stock Exchange, and the coupon rate for the same is set at 8.15%.

They will be redeemed at a redemption price of Rs 1 lakh per NCD on the date of maturity, the company said.

Shares of L&T Finance closed 3.13% higher at Rs 171.35 apiece on the NSE, as compared with a 0.66% advance in the benchmark Nifty 50.