Debt financing
L&T, IIFL Finance raise Rs.525-Cr via tokenised bonds
Business Standard Press Release
Mumbai-based Larsen & Toubro (L&T) and IIFL Finance have entered the Indian tokenised bond market, raising INR 500-Cr and INR 25-Cr, respectively. The development follows an issuance by REC, which raised INR 500-Cr via a 20-month bond.L&T - the first private-sector corporation to enter the segment - raised INR 500 crore at a coupon of 7.4% through bonds maturing in three years.IIFL Finance, a non-banking financial company (NBFC), raised INR 25 crore at 9.1% through bonds maturing in two years. Trust Investment Advisors arranged the IIFL Finance issue, marking the first time a non-PSU NBFC has raised funds through a tokenised bond.Tokenised bonds use blockchain technology to facilitate issuance, trading, and settlement.
Between Dec 2015 and May 2024, IIFL Finance had attracted about $ 429 M from Fairfax Holdings.For FY26, IIFL Finance had reported about INR 7,448 Cr in Operating Income and about INR 1,154 Cr in PAT.For FY26, Larsen & Toubro had reported about INR 153,680 Cr in Operating Income and about INR 6,287 Cr in PAT.
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