L&T Finance plans to raise up to Rs 300 crore by issuing non-convertible debentures (NCDs) on a private placement basis.
The company intends to issue secured, redeemable, non-convertible debentures of Rs 150 crore with an option to retain over subscription up to Rs 150 crore, an overall amount aggregating to Rs 300 crore, it said in a regulatory filing.
The company said the issuance of NCDs will be on a private placement basis.
L&T Finance is a wholly-owned subsidiary of L&T Finance Holdings Ltd, which is incorporated as a non-banking finance company (NBFC).
It offers finance services for trade, industry and agriculture sector. The company's focus areas are corporate products, construction equipment, commercial vehicles and tractors.
