L&T Finance Ltd.

L&T Finance Holdings’ material subsidiary -- L&T Finance has received approval to raise funds a shelf limit of Rs 5,000 crore through issuance of Secured and/or Unsecured (Subordinated and qualifying for Tier II capital) Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 1,000 each. The Committee of Board of Directors of the Company has approved the same.

The committee also approved the Tranche 1 Prospectus in connection with the issue of Secured Redeemable Non-Convertible Debentures of face value of Rs 1,000 each for an amount of Rs 500 crore with an option to retain oversubscription up to Rs 1,000 crore aggregating up to Rs 1,500 crore.

L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries.