L&T Finance Ltd.

L&T Finance Holdings’ material subsidiary -- L&T Finance is planning to raise up to Rs 1,000 crore through an issue of non-convertible debentures. The base size of the issue, which is the second tranche, is Rs 500 crore with an option to retain oversubscription of up to Rs 500 crore. Net proceeds of the issue will be utilised for on- lending, financing, and refinancing the existing debt of the company and for general corporate purposes.

In the second tranche, the company is offering bonds maturing in 3, 5 and 8 years offering a coupon of 8.48-9.05 percent. The issue opens on April 8 and closes on 18 with an option of early closure or extension and will be listed on the stock exchanges.

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.