India's L&T Finance plans Rs. 1.25 billion nonconvertible debentures

By Tali Rackner

Norfolk, Va., May 29 - L&T Finance Ltd. informed the Bombay Stock Exchange that it intends to issue Rs. 1.25 billion of secured redeemable nonconvertible debentures.

There is an option to retain over-subscription of Rs. 1 billion for a total amount of Rs. 2.25 billion.

The debentures will be issued on a private placement basis.

The issuer is a Mumbai-based finance company and a subsidiary of Larsen & Toubro Ltd.

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