Larsen & Toubro raises Rs 2,500 crore via NCDs

Engineering and construction conglomerate Larsen & Toubro (L&T) on Tuesday said it has raised Rs 2,500 crore through issuance of non-convertible debentures (NCDs).

The debentures will mature in April, 2025.

"The Company has today issued and allotted 25,000 7.70 per cent Rated Listed Unsecured Redeemable Non-Convertible Debentures of Rs 10 lakh each aggregating to Rs 2,500 crore which will mature on April 28, 2025," the company said in a regulatory filing to the BSE.

The debentures are proposed to be listed on the NSE, it said.

The interest on will be paid on an annual basis, it added.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 21 billion in revenue. It operates in over 30 countries.