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L&T Finance Limited is a part of the larger L&T Group which is one of the leading business conglomerates in India, with presence across infrastructure, power, heavy engineering, electrical and automation, hydrocarbons, IT and Technology services, financial services, project development, metallurgical and material handling, realty, shipbuilding, construction equipment, machinery and industrial products sectors.

L&T entered into the financial services business in 1994 In the year 2016, the Promoter streamlined and reorganized its financing business into three primary business segments, i.e., rural, wholesale and housing with return on equity as an important performance metric.

L&T Finance Limited is one of the leading private non-banking financial services companies in India in terms of total loans outstanding, as of September 30, 2018. Their Promoter is registered with the RBI as a Non-Banking Finance Company - Core Investment Company (“NBFC-CIC”) conducting business through its wholly-owned subsidiaries.

L&T Finance Limited NCD - Issue Details:

Issuer L&T Finance Limited (View Report)
Issue Type Secured Redeemable Non-Convertible Debentures
Issue Period Issue Opens: Wednesday, March 06, 2019
Issue Closes: Wednesday, March 20, 2019
Coupon Rate 9.35% p.a *
Issue Size Base Issue of Rs. 500 Crores with an option to retain oversubscription up to Rs. 1,000 Crores aggregating up to 15,000 Crores Secured NCDs amounting Rs. 1,500 Crores (Tranche I Issue Limit) (Tranche I Issue Size)
Shelf Limit Rs. 500 Crores
Face Value Rs.1,000 per NCD
Minimum Application Size Rs.10,000 (10 NCDs) and in multiple of Rs.1,000 (1 NCD) thereafter across all Series
Credit Rating “[ICRA] AAA (Stable)”, “CARE AAA / Stable” and IND AAA / Stable
Mode of Allotment & Trading Traded compulsorily in Dematerialised Form
QIB 20% of issue size
Corporate 20% of issue size
HNI 30% of issue size
Retail Individual 30% of issue size
Listing BSE & NSE
Depositories NSDL & CDSL
Registrar Link Intime India Private Limited
Book Running Lead Managers A. K. Capital, Edelweiss Financial, Axis Bank and Trust Investment
* Highest yield


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