L&T Finance, today said that it has filed a draft prospectus with the NSE and Sebi (for record purposes) for a proposed public offer of 50,00,000 secured redeemable non-convertible debentures (NCDs).
The NCDs will be of face value of Rs 1,000 each aggregating to Rs 500-crore, with an option to retain over-subscription upto Rs 500-crore for issuance of additional NCDs, aggregating upto a total of Rs 1,000-crore.
The NCDs are proposed to be listed on the NSE, a press relese issued here today said.
The funds raised through this issue will be used by the company for its various financing activities including lending and investments, to repay its existing loans and for its business operations, including capital expenditure and working capital requirements, the release said.
The lead managers to the issue are SBI Capital Markets, JM Financial Consultands and Standard Chartered Bank.
L&T Finance is a subsidiary of engineering and construction giant, Larsen & Toubro, and provides a range of financial services.