Larsen & Toubro Allots ₹500 Cr Tokenised NCDs on NSDL DLT Platform
New Delhi: Larsen & Toubro Limited (L&T) has allotted 50,000 listed, rated, unsecured, redeemable, non-convertible tokenised debentures (NCDs) of face value ₹1 lakh each, aggregating ₹500 crore, on a private placement basis.
The allotment was completed on September 9, 2026. The NCDs carry a coupon of 7.40% per annum, with interest payable annually, and will mature on September 9, 2029 (tenure of three years).
Key Highlights of the Issue
|
Particulars |
Details |
|---|---|
|
Type of securities |
Rated, Listed, Unsecured, Redeemable Non-Convertible Tokenised Debentures |
|
Mode of issuance |
Private Placement |
|
Number of NCDs |
50,000 |
|
Face value |
₹1,00,000 each |
|
Issue size |
₹500 crore |
|
Coupon |
7.40% p.a. (payable annually) |
|
Allotment date |
September 9, 2026 |
|
Maturity date |
September 9, 2029 |
|
Security / Charge |
Nil (Unsecured) |
|
Listing |
Proposed on NSE Debt Segment |
|
Special feature |
Issued in tokenised form on NSDL’s Distributed Ledger Technology (DLT)-based platform |
The NCDs will be redeemed on maturity through the same NSDL DLT-based platform.
What Makes This Issuance Notable
This is one of the early instances of a large Indian corporate issuing non-convertible debentures in fully tokenised form on a regulated Distributed Ledger Technology platform operated by National Securities Depository Limited (NSDL). Tokenisation records ownership and transfer of the NCDs on a blockchain-based ledger while remaining within the existing regulatory framework for debt securities.
L&T has confirmed that no special rights, interest or privileges are attached to the instruments beyond the tokenised structure itself. There is no security or charge created over the company’s assets.
Regulatory Disclosure
The company made the disclosure under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with the applicable SEBI Master Circular. The detailed annexure covering all prescribed particulars has been filed with BSE (Stock Code: 500510) and NSE (Stock Code: LT).
Source: Official intimation by Larsen & Toubro Limited dated September 9, 2026, signed by Subramanian Narayan, Company Secretary & Compliance Officer.