L&T raises Rs 1,500 crore via Non-Convertible Debentures

Mumbai: Engineering firm Larsen and Toubro (L&T) Thursday announced that it has garnered Rs 1,500 crore via Non-Convertible Debentures (NCDs).

IBNS • 2 Nov 2023, 11:59 pm

L&T raises Rs 1,500 crore via Non-Convertible Debentures

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L&T stated in a regulatory filing that these debentures are intended to be listed on the National Stock Exchange.

"The company has today (November 2) 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 coupon rate of the NCDs stands at 7.58 percent.

Larsen & Toubro is a multinational corporation from India that specializes in EPC (engineering, procurement, and construction) projects, advanced manufacturing, and providing various services. The company carries out its operations in more than 50 countries.