Larsen & Toubro (L&T) rose 0.89% to Rs 864.60 after the company said it raised Rs 2500 crore through issue of unsecured redeemable non-convertible debentures.
L&T said it allotted 25,000, 7.70% rated listed unsecured redeemable non-convertible debentures (NCDs) of Rs 10 lakh each aggregating to Rs 2500 crore. The NCDs will mature on 28 April 2025. The said debentures are proposed to be listed on the National Stock Exchange of India. The interest on the said debentures will be paid on an annual basis. The announcement was made after market hours yesterday, 28 April 2020.
On a consolidated basis, L&T's net profit rose 15.21% to Rs 2,352.12 crore on a 5.87% rise in net sales to Rs 36,242.68 crore in Q3 December 2019 over Q3 December 2018.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
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