L&T Finance to raise Rs 150 cr on private placement basis

L&T Finance plans to raise Rs 150 crore on private placement basis by issuing non-convertible debentures.
The company intends to issue secured, redeemable, non- convertible debentures of Rs 50 crore with an option to retain over-subscription up to Rs 100 crore, aggregating to Rs 150 crore on private placement basis," the company said in a BSE filing.
However, details about usage of the proceeds were not provided.