L&T Finance Limited has announced a senior management transition involving its Chief Human Resources Officer. The company informed stock exchanges about the internal group transfer of a key leadership position within the L&T ecosystem.

Senior Management Transition Details

The company has disclosed the departure of Nilesh Dange from his role as Chief Human Resources Officer. This change represents an internal group transfer rather than an external departure, maintaining talent within the broader L&T organizational structure.

Regulatory Compliance and Disclosure

The announcement was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Company Secretary and Compliance Officer Apurva Rathod signed the disclosure document on February 23, 2026.

The notification was submitted to both the National Stock Exchange of India Limited and BSE Limited, ensuring compliance with listing requirements. The disclosure follows the format prescribed under Para A of Part A of Schedule III of the Listing Regulations and adheres to the SEBI master circular dated January 30, 2026.

Strategic Internal Movement

Dange's transition represents a strategic internal movement within the L&T group, where he will assume responsibility as Head – Human Resources for one of Larsen & Toubro Limited's business divisions. This type of internal transfer allows organizations to leverage experienced talent across different group entities while maintaining institutional knowledge and leadership continuity.

L&T Finance Limited has formally notified stock exchanges about its decision to exercise the call option on subordinated perpetual debt instruments worth ₹50 crores, with redemption scheduled for March 18, 2026. The announcement was made on February 13, 2026, in compliance with SEBI regulations.

Debenture Details and Background

The non-convertible debentures were originally issued by L&T Infrastructure Finance Company Limited on March 18, 2016, which later merged with L&T Finance Limited as part of a corporate restructuring exercise in 2021. The issue comprised 1,000 unsecured, non-convertible debentures with a face value of ₹10,00,000 each, totaling ₹50 crores.

Call Option Exercise and Regulatory Approval

The debentures were structured as subordinated perpetual Tier-I debt instruments with put/call options exercisable after a minimum period of 10 years, subject to Reserve Bank of India approval. The company received the necessary RBI approval on February 12, 2026, enabling the exercise of the call option.

The debentures were listed on the Wholesale Debt Market segment of BSE Limited effective March 28, 2016, and were issued on a private placement basis under the Information Memorandum dated March 18, 2016.

Redemption Process and Timeline

L&T Finance Limited has established a clear timeline for the redemption process, with specific dates set for record-keeping and payment purposes.

Debenture holders will receive the principal outstanding amount along with the annual coupon at 9.50% per annum on the redemption date. The company has clarified that it will not be responsible for any claims related to securities sold or transferred after the specified record date.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable regulations including SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, and the SEBI master circular dated January 30, 2026.

Formal notices have been dispatched to debenture holders as per the beneficiary position dated February 06, 2026, serving as official notification for the call option exercise. The redemption represents the completion of the 10-year minimum period requirement for exercising the call option on these perpetual debt instruments.