With 1.5 lakh NCDs, Larsen & Toubro raises Rs. 1,500 crore

 With 1.5 lakh NCDs, Larsen & Toubro raises Rs. 1,500 crore

According to a regulatory filing by L&T, the debentures are intended to be listed on the National Stock Exchange.

On November 2, infrastructure giant Larsen and Toubro (L&T) announced that it has purchased Rs 1,500 crore worth of non-convertible debt (NCDs). According to a regulatory filing by L&T, the debentures are intended to be listed on the National Stock Exchange.

"The company has right now (November 2) issued and allotted 1,50,000 rated, listed, unsecured, redeemable, non-convertible debt instruments of Rs 1 lakh each aggregating to Rs 1,500 crore maturing on May 2, 2025," it said. The NCDs have a 7.58 percent coupon rate applied to them.

An Indian global company, Larsen & Toubro is involved in high-tech manufacturing, services, and EPC (engineering, procurement, and construction) projects. It works in more than 50 nations.