L&T's Strategic Rs 500 Crore NCD Offering
Larsen & Toubro has successfully raised Rs 500 crore through debentures linked to specific sustainability targets. These non-convertible debentures, maturing in June 2028, form part of a broader ESG framework. The company also reported a 25% profit increase, driven by higher revenues and exceptional gains.
- Country:
- India
Larsen & Toubro (L&T) has announced a successful capital raise, acquiring Rs 500 crore via debentures, underscoring its commitment to sustainability.
The 50,000 non-convertible debentures, each valued at Rs 1 lakh, carry an annual interest of 6.35% and will mature in June 2028. L&T's initiative is aligned with the ESG Debt Securities Framework established by SEBI, but is distinct from green debt securities.
This financial maneuver follows L&T's reported 25% surge in profit after tax for the fiscal quarter ending March 31, 2025, reaching Rs 5,497 crore, buoyed by increased revenues and an exceptional gain.
(With inputs from agencies.)
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