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L&T Finance raises 3,238 crore through NCDs

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  • L&T Finance raised a total of 3,238.48 crore worth of subscriptions, which is 6.48 times of the base issue size of 500 crore
  • The issue was oversubscribed on the first day of tranche 2 issue on 8 April, it said in a release.

New Delhi: L&T Finance on Tuesday said it has raised Rs3,238.48 crore through non-convertible debentures.

The company raised a total of 3,238.48 crore worth of subscriptions, which is 6.48 times of the base issue size of 500 crore.

The issue was oversubscribed on the first day of tranche 2 issue on 8 April, it said in a release.

The wholly owned subsidiary of L&T Finance Holdings said these non-convertible debentures (NCDs) have been rated stable by Icra, CARE and India Ratings.

The first tranche of the NCD was oversubscribed on day one 6 March 2019 when the company had raised 2,228.06 crore, around 4.45 times of the base issue ( 500 crore).

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