L&T Finance allotted 380 subordinated, unsecured, redeemable, non-convertible debentures (NCDs) on a private placement basis for an aggregate nominal value of Rs 380 crore on July 01, 2026. The issuance was conducted pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.

The debentures carry a face value of Rs 1 crore each and have an original tenor of 3653 days, maturing on July 01, 2036. These instruments are rated and listed on the Negotiated Trade Reporting Platform under the New Debt Market of the National Stock Exchange of India Limited. The base issue size was Rs 355 crore, with an oversubscription option of Rs 25 crore, aggregating to the total allotment of Rs 380 crore.

Interest payments on the NCDs are scheduled annually, with the first coupon payable on July 01, 2027. The coupon rate is fixed at 8.20% per annum, resulting in an annual payout of Rs 8,20,000 per debenture. In the event of a default in payment of coupon or principal redemption, the company will pay additional interest at 2% per annum over the coupon rate for the defaulting period.

The schedule of payments indicates that interest will be paid every July, with adjustments made if the due date falls on a holiday, in accordance with the Business Day Convention set under the Key Information Document. The principal amount of Rs 1 crore per NCD will be repaid in full on the maturity date of July 01, 2036.

Key Details of the Allotment

L&T Finance Limited has received a request from Nabha Power Limited to re-classify its status from the Promoter Group to the Public category. The request follows the cessation of Nabha Power as a subsidiary of L&T Power Development Limited, a wholly owned subsidiary of Larsen & Toubro Limited. This change occurred after L&T Power Development transferred 100% of its equity and convertible instruments in Nabha Power to Torrent Power Limited.

Nabha Power confirmed in a letter dated June 26, 2026, that it fulfills and will continue to fulfill the conditions specified under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company currently holds nil shareholding in L&T Finance Limited.

The request for re-classification will be placed before the Board of Directors of L&T Finance Limited at its upcoming meeting for consideration. The disclosure was made pursuant to Regulation 31A of the SEBI Listing Regulations and other applicable regulations.

Key Details