L&T Finance to raise Rs 750 cr via NCDs

L&T Finance today said it will raise Rs 750 crore through issuance of non-convertible debentures on a private placement basis.
"The company intends to issue secured, redeemable, non- convertible debentures of Rs 700 crore with an option to retain over-subscription up to Rs 50 crore, an overall amount aggregating to Rs 750 crore," the company said in a BSE filing.
The company said the NCDs will be issued on a private placement basis.
L&T Finance is a wholly-owned subsidiary of L&T Finance Holdings. The company offers financial products and services for trade, industry and agriculture.
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L&T Infrastructure Finance Company, another group firm of L&T Finance Holdings, said that it will raise Rs 200 crore by issuing bonds on private placement basis.

"The company intends to issue secured, redeemable, non-convertible debentures of the face value of Rs 25 lakh each, amounting to Rs 150 crore with an option to retain over subscription of Rs 50 crore, on private placement basis," it said in a regulatory filing.