Larsen & Toubro raises Rs 1,500 crore funds through sale of 150,000 NCDs

Infrastructure major Larsen and Toubro (L&T) on Thursday said it has raised Rs 1,500 crore through Non-Convertible Debentures (NCDs).

The debentures are proposed to be listed on the National Stock Exchange, L&T said in a regulatory filing.

"The company has today (Thusrday) issued and allotted 1,50,000 rated, listed, unsecured, redeemable, non-convertible debentures of Rs 1 lakh each aggregating to Rs 1,500 crore maturing on May 2, 2025," it said.

The NCDs have been issued at a coupon rate of 7.58 per cent.

Larsen & Toubro is an Indian multinational engaged in EPC (engineering, procurement and construction) projects, hi-tech manufacturing and services. It operates in over 50 countries.