L&T Infra Finance to raise $47M via debentures

L&T Infrastructure Finance Company today said it plans to raise Rs 300 crore through debentures. 

The company intends to issue secured, redeemable, non-convertible debentures of the face value of Rs 25 lakh each, amounting to Rs 300 crore with an option to retain over-subscription of Rs 100 crore, L&T Infrastructure Finance Company said in a statement. 

The proposed instrument will be issued on a private placement basis, it said. 

L&T Infrastructure Finance Company is a wholly-owned subsidiary of L&T Finance Holdings, belonging to the engineering conglomerate Larsen & Toubro (L&T).