Larsen & Toubro Raises ₹500 Crore Through Tokenised Non-Convertible Debentures

Larsen & Toubro Limited (L&T) has allotted 50,000 tokenised non-convertible debentures (NCDs) on 9 September 2026. The issue has an aggregate value of ₹500 crore, with each NCD carrying a face value of ₹1 lakh.

The securities have been issued through private placement and are rated, listed, unsecured, redeemable and non-convertible.

The NCDs have been issued in tokenised form through the National Securities Depository Limited (NSDL) Distributed Ledger Technology (DLT)-based platform. The company has also proposed listing the debentures in the debt segment of the National Stock Exchange of India Limited (NSE).

As of 3:06 pm on 9 September 2026, L&T shares were trading at ₹3,935 on the NSE, down 0.28%. The stock opened at ₹3,935.30 and moved up to an intraday high of ₹4,020.20, while its low stood at ₹3,933 so far during the session.

The NCDs Will Mature In 2029

The tokenised debentures carry a 7.40% coupon and have a three-year tenure. The allotment date is 9 September 2026, while the scheduled maturity date is 9 September 2029. Interest on the securities will be paid annually.

The securities do not have any charge or security created over the company's assets. The filing records the charge as nil, while also stating that there is no additional special right or privilege apart from the tokenised issuance structure.

At maturity, the NCDs will be redeemed as per the terms of issue through the DLT-based platform of NSDL. The filing did not mention any default or delay in respect of interest or principal payments. This suggests that such disclosure was not applicable.

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