The issue which aggregates to Rs 500 crore has the option to retain over-subscription up to Rs 500 crore for issuance of additional NCDS, aggregating to Rs 1,000 crore. The NCDS come with four investment options namely a) Quarterly interest payment; b) Semi-annual interest payment, c) Cumulative interest payment and d) semi-annual interest payment.
Each of these options come with a different coupon rate of 9.62 per cent, 9.95 per cent, and 10.24 per cent per annum respectively. L&T Infrastructure Finance Chief Executive Suneet K Maheshwari said the funds raised through the issue will be used to finance investment activitiese .
Published 21 August 2009, 15:57 IST