L&T Finance Limited NCD Details:

L&T Finance Limited NCD Details

NCD Ratings:

CARE has rated these NCDs as AAA with Outlook Stable and ICRA rated them as AAA with Outlook Stable and India Ratings as AAA with Outlook Stable, which indicate that instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations and carry lowest credit risk.

About the company:

They are one of the leading private non-banking financial services companies in India in terms of total loans outstanding, as of December 31, 2018. Its Promoter is registered with the RBI as a Non-Banking Finance Company – Core Investment Company conducting business through its wholly-owned subsidiaries.

The company is a part of the larger L&T group which is one of the leading business conglomerates in India, with a presence across infrastructure, power, heavy engineering, electrical and automation, hydrocarbons, IT and technology services, financial services, project development, metallurgical and material handling, realty, shipbuilding, construction equipment, machinery and industrial products sectors. L&T entered into the financial services business in 1994. In the year 2016, its Promoter streamlined and reorganized its financing business into three primary business segments, i.e., rural, wholesale and housing with return on equity as an important performance metric.

Public issue of secured redeemable, Non-Convertible Debentures.

Objective of NCD L&T Finance Limited NCD

  1. The company purposes to utilize the funds which are being raised through the issue, after deducting the Issue related expenses to the extent payable by the company (“Net Proceeds”). For the purpose of onward lending, financing, refinancing the existing indebtedness of the company (payment of interest and/or repayment/prepayment of principle of borrowings.
  2. For General Corporate Expense.

Promoters of the Company:

The promoter is L&T Finance Holdings Limited.

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