New Delhi: L&T Finance on Tuesday said it has raised Rs3,238.48 crore through non-convertible debentures. The company raised a total of ₹3,238.48 crore worth of subscriptions, which is 6.48 times of the base issue size of ₹500 crore. The issue was oversubscribed on the first day of tranche 2 issue on 8 April, it said in a release. The wholly owned subsidiary of L&T Finance Holdings said these non-convertible debentures (NCDs) have been rated stable by Icra, CARE and India Ratings. The first tranche of the NCD was oversubscribed on day one 6 March 2019 when the company had raised ₹2,228.06 crore, around 4.45 times of the base issue ( ₹500 crore).

Source: Mint April 09, 2019 14:37 UTC