L&T Finance plans to raise about Rs 170 crore by way of issuing non-convertible debentures on private placement basis.
"The company intends to issue secured, redeemable, Non- Convertible Debentures (NCDs) of Rs 70 crore with an option to retain over-subscription up to Rs 100 crore, an overall amount aggregating to Rs 170 crore on private placement basis," it said in a filing to the BSE.
The company did not elaborate about the usage of the proceeds to be raised.
L&T Finance Ltd is a non-banking financial company (NBFC), which is a wholly owned subsidiary of L&T Finance Holdings Ltd. Shares of the L&T Finance Holding today closed 1.89 percent higher to Rs 62.10 apiece on the BSE.
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