L&T Finance Holdings said that its Committee of Directors approved raising of funds through offer and issuance of Unsecured, Redeemable, Non-Convertible Debentures (NCDs) on a private placement basis.
The Committee of Directors of L&T Finance Holdings on Wednesday, 19 August 2020, approved the offer and issuance of up to 2,000 unsecured, redeemable, non-convertible debentures (NCDs) of face value of Rs 10 lakh at par aggregating to nominal amount of up to Rs 200 crore on a private placement basis at the coupon/interest rate of 8% per annum payable annually.
The NCDs will be listed on National Stock Exchange (NSE) and the tenure of the NCDs shall be 1095 days. NCDs will be redeemed at par on 28 August 2023. The announcement was made after market hours yesterday, 19 August 2020.
Shares of L&T Finance Holdings fell 0.37% to Rs 66.95 on BSE.
L&T Finance Holdings' consolidated net profit tanked 73.2% to Rs 147.44 crore on 1.8% slip in total income to Rs 3,623.14 crore in Q1 June 2020 over Q1 June 2019.
L&T Finance Holdings is a diversified non-banking financial company (NBFC).
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