L&T Finance Ltd launched Public Issue of Secured redeemable Non-Convertible Debentures , Base issue size of 500 Cr with an option to retain over subscription up to the 1000 Cr aggregating up to 1500 Cr. (Tranche I Issue Limit) . Issue open from 16 Dec 2019 and issue close on 30 Dec 2019 (Early Close 17 Dec 2019). The company has come with attractive interest rates between 8.45% and 8.65% for retail investor.

About Issue: L&T Financial Ltd is a non-banking financial service company. It is a part of L&T group which started financial services business in 1994. L&T Financial Ltd works in the three main segments which are wholesale, rural and housing.

IssuerL&T Finance Ltd
Type of InstrumentSecured Redeemable, NCD
Issue Open14 Dec 2019
Issue Close30 Dec 2019 (with option of early closure or extension)
Issue Size500 Cr. with an option to retain oversubscription of 1000 Cr.
Face ValueRs. 1,000
Min. Application Size10 Bonds (Rs.10000) & multiply of 1 NCD thereafter (across all series NCD)
Interest Monthly,Annually , Cumulative Option
Mode of AllotmentD'mat Account Only
Rating CRISIL AAA/stable & CARE AAA/stable & IND AAA/stable (India Rating)

Specific Term of Issue –  

Tenor36 Months36 Months36 Months60 Months60 Months84 Months
Base Coupon - Cat I & II8.25%NA7.96%8.45%8.15%8.50%
Base Coupon Cat III & IV8.45%8.15%8.60%8.29%8.65%
Interest PaymentAnnualNAMonthlyAnnualMonthlyAnnual
Effective Yield Category I & II8.24%8.25%8.25%8.44%8.45%8.49%
Effective Yield Category III & IV8.44%8.45%8.45%8.59%8.60%8.64%

Company Website Link 

Review / Recommendation

  • The Company has good fundamentals.
  • Investor who are looking something more than FD can surely good to invest in this NCD.
  • Invest small portion & short period in any NCD issue through company financial are strong.

L&T Finance Ltd – Issue Subscription Data – Dt- 16-12-2019

CategoryIssue SizeSubscribeUnsubscribeNo of Times
Cat – I    150 Cr20.03 Cr  129.97 Cr0.13
Cat – II    150 Cr55.52 Cr   94.48 Cr0.37
Cat – III    525 Cr593.71 Cr – 68.71 Cr1.13
Cat – IV   675 Cr531.26 Cr 143.74 Cr0.79
Total  1500 Cr1200.52 Cr—-0.80

L&T Finance Ltd  – Issue Subscription data

L&T Finance Ltd NCD Issue  Allotment & Listing details :

 Registrar Link Intime- Allotment Link


For Investment & any query , Kindly Write to us at

                       rajendra@puneinvest.com or

                          Call Rajendra 7719917444

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