L&T raises Rs 1,250 cr via NCDs

Engineering and construction giant Larsen & Toubro (L&T) on Monday said it has raised Rs 1,250 crore through issuance of non-convertible debentures (NCDs)

"The company has today issued and allotted 12,500 - 7.20 per cent ratedlisted unsecured redeemable non-convertible debentures of Rs 10 lakh eachaggregating to Rs 1,250 crore which will mature on April 20, 2023," Larsen & Toubro said in a BSE filing

The said debentures are proposed to be listed on the National Stock Exchange of India Ltd, the filing said, adding that "the interest on the said debentures will be paid on an annual basis".