L&T plans to raise up to Rs 1,400 cr via NCDs

L&T plans to raise up to Rs 1,400 cr via NCDs

The company, however, did not elaborate on the reasons for raising funds. (Reuters File Photo)

Infrastructure major Larsen and Toubro (L&T) on Wednesday said it plans to raise up to Rs 1,400 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

The company, however, did not elaborate on the reasons for raising funds.

"The company proposes to issue rated, listed, unsecured, redeemable non-convertible debentures aggregating up to Rs 1,400 crore on private placement basis," L&T said in a regulatory filing.

Shares of L&T were trading 1.32 per cent higher at Rs 1,331.10 apiece on BSE.

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