MUMBAI: L&T Finance, promoted by Larsen & Toubro and L&T Capital Holdings, will open its first-ever public offer of 50 lakh secured redeemable non-convertible debentures (NCDs) of the face-value of Rs. 1,000 each on August 18.

The issue aggregates to Rs. 500 crore with an option to retain over-subscription up to Rs. 500 crore for issuance of additional NCDs, totalling Rs. 1,000 crore.

The issue with various investment options and yield on redemption of up to 10.50 per cent (annually) closes on September 4.

The NCDs would be listed on the National Stock Exchange. The minimum application is Rs. 10,000 (retail) and Rs. 1.01 lakh (non-institutional investors and QIBs) and in multiples of Rs. 1,000 therein.

The funds raised through this issue will be used by the company for its various financing activities including lending and investments and for its business operations.

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