NCD Issue of L & T Finance Limited

This is a public issue of Secured Redeemable Non-Convertible Debentures (NCDs) by L & T Finance Limited. The size of the issue is Rs. 500 crores with an option to retain over subscription of up to Rs. 500 crores for issuance of additional NCDs (‘Issue’). The NCDs will be issued in Demat mode only. The issue has been rated CARE AA+ by CARE and LAA+ by ICRA. Opening date of the issue: August 18 th , 2009 and Closing date of the Issue: September 04 th , 2009, with discretion to close early subject to necessary approvals. The deemed date of allotment shall be the date of issue of letter of allotment/regret

The specific terms of each instrument are as follows

Options I II III IV
Interest Payment Quarterly Semi Annual Cumulative Semi Annual
Minimum Application (Rs.)
10,000/- (Retail) 1,01,000/- (NIIs & QIBs)
Multiples (Rs.) Rs.1,000/- Rs.1,000/- Rs.1,000/- Rs.1,000/-
Face Value of NCDs (Rs. / NCD) Rs.1,000/- Rs.1,000/- Rs.1,000/- Rs.1,000/-
Mode of Interest Payment
Through various modes available
Coupon Rate ( % ) 9.51% p.a. 9.62% p.a. 9.95% p.a compounding annually 10.24% p.a.
Yield on redemption 9.85% 9.85% 9.95% 10.50%
Tenor 60 months 60 months 88 months 120 months

Redemption Date /Maturity Period

60 months from the deemed date of allotment

60 months from the deemed date of allotment

88 months from the deemed date of allotment

120 months from the deemed date of allotment

Redemption Amount Face value plus any interest that may have accrued payable on redemption.

Face value plus any interest that may have accrued payable on redemption.

Rs.2,005/- per NCD

Face value plus any interest that may have accrued payable on redemption

Interest Payment options include: ECS, NEFT, RTGS, Direct Credit and physical interest warrants.

  • NRI customers are not eligible to apply for the issue.
  • Basis of Allotment on first come first serve basis, please refer to page no. 164 and 165 of the prospectus for further details
  • For further details refer to the prospectus

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