L&T Finance Holdings gets Board nod for raising up to ₹1.01 lakh crore via NCDs in 1 or more tranches

The Board of Directors of L&T Finance Holdings Ltd on Monday approved raising up to ₹1.01 lakh crore via NCDs in one or more tranches.

“The Board of Directors of the Company at its Meeting held on March 18, 2024, has, inter alia, approved the raising of funds by issuance of non-convertible debentures (including subordinated-debt, masala bonds and perpetual debt) ('NCDs') from time to time, in one or more tranches, such that at any point of time the NCDs issued and outstanding does not exceed an aggregate amount of ₹1,01,000 crores,” the company informed in an exchanges filing.

On January 23, L&T Finance Holdings reported a 41.12% rise in its consolidated net profit to Rs 640.18 crore in the third quarter of the financial year 2023-24, according to a Moneycontrol report.

The non-banking financial firm had in December 2023 successfully completed the merger of its subsidiaries, L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee with itself.

L&T Finance Holdings share price settled nearly 2% lower in trade today, closing at ₹148 apiece on BSE.