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Hans India
25-06-2025
- Business
- Hans India
L&T garners Rs 500 cr via ESG bonds
Mumbai: Larsen & Toubro has listed India's first ESG bonds on the National Stock Exchange (NSE), setting a precedent for a greener and more sustainable financial future in India. The company has successfully raisedRs500 crore through Non-Convertible Debentures (NCD) at a coupon rate of 6.35 per cent under the Securities and Exchange Board of India's (SEBI) newly introduced ESG and sustainability-linked bond framework. The NCDs, having a three-year maturity period, will mature on June 19, 2028, and the interest would be paid on an annual basis. Issued in partnership with HSBC, who served as the sole lead arranger, this landmark transaction adheres strictly to SEBI's regulatory guidelines introduced on June 5, 2025, aimed at enhancing transparency and accountability among bond issuers. The framework mandates key disclosures, including sustainability objectives, external evaluations such as Second-Party Opinions (SPOs), and continuous post-issuance reporting, with clear Key Performance Indicators (KPIs) to measure ESG impact. R Shankar Raman, President, Whole-time Director & CFO, L&T said: 'We are proud to lead India's transition to sustainable finance through this pioneering ESG bond listing.
India Gazette
23-06-2025
- Business
- India Gazette
L&T lists India's first ESG bonds worth 500 crore on NSE
Mumbai (Maharashtra) [India], June 23 (ANI): Infra and technology company Larsen & Toubro (L&T) has listed India's first ESG bonds on the National Stock Exchange (NSE), setting a precedent for a greener and more sustainable financial future in India. In a statement, the company said it has successfully raised Rs 500 crore through Non-Convertible Debentures (NCD) at a coupon rate of 6.35 per cent under the Securities and Exchange Board of India's (SEBI) newly introduced ESG (Environment, Social and Governance) and sustainability-linked bond framework. The NCDs, having a three-year maturity period, will mature on June 19, 2028, and the interest would be paid on an annual basis. 'Issued in partnership with HSBC, who served as the sole lead arranger, this landmark transaction adheres strictly to SEBI's regulatory guidelines introduced on June 5, 2025, aimed at enhancing transparency and accountability among bond issuers,' the company said. The framework mandates key disclosures, including sustainability objectives, external evaluations such as Second-Party Opinions (SPOs), and continuous postissuance reporting, with clear Key Performance Indicators (KPIs) to measure ESG impact. Commenting on the listing, R Shankar Raman, President, Whole-time Director and CFO, L&T said, 'We are proud to lead India's transition to sustainable finance through this pioneering ESG bond listing. This initiative underlines our dedication to long-term sustainable development and positions us at the forefront of responsible corporate governance and environmental stewardship.' 'This deal reinforces our commitment to driving L&T's ESG goals and supporting the larger energy transition objective,' R Shankar Raman added. The company added this successful issuance is a significant milestone in India's financial markets, illustrating growing investor appetite for ESG-compliant financial instruments and setting a benchmark for future sustainable financing ventures. (ANI)
Time of India
23-06-2025
- Business
- Time of India
L&T lists India's 1st ESG bonds on NSE, raises Rs 500 crore
Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday announced the listing of the country's first environmental, social and governance bonds on the NSE, raising Rs 500 crore through debentures. In a filing to BSE, the company said it "has listed India's first ESG bonds on the National Stock Exchange (NSE), setting a precedent for a greener and more sustainable financial future in India". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How Much Money Should You Have Before Hiring a Financial Advisor? SmartAsset Learn More Undo The company said it has raised Rs 500 crore through non-convertible debentures (NCD) at a coupon rate of 6.35 per cent. Bonds Corner Powered By L&T lists India's 1st ESG bonds on NSE, raises Rs 500 crore Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday announced the listing of the country's first environmental, social and governance bonds on the NSE, raising Rs 500 crore through debentures. Indian rupee, bonds under pressure as US strike on Iran deepens Middle East conflict India bonds to fall as oil spike fears heighten after US attacks Iran US strikes on Iran expected to weaken rupee and bond yields What Yoga can teach you about bond allocation and portfolio balance Browse all Bonds News with The debentures will mature over a period of three years, with annual interest payments. HSBC served as the sole lead arranger for the transaction. The bonds, issued under Sebi's newly introduced ESG and sustainability-linked bond framework, were launched on June 5. Live Events "This deal reinforces our commitment to driving L&T's ESG goals and supporting the larger energy transition objective," R Shankar Raman, president, whole-time director and CFO of the company, said. As part of the sustainability-linked bond agreement, the company undertakes environmental commitments, targeting measurable reductions in freshwater withdrawal intensity and greenhouse gas emissions. These goals align with the company's broader vision of achieving water neutrality by 2035 and carbon neutrality by 2040. "This successful issuance is a significant milestone in India's financial markets, illustrating growing investor appetite for ESG-compliant financial instruments and setting a benchmark for future sustainable financing ventures," it said.
Economic Times
23-06-2025
- Business
- Economic Times
L&T lists India's 1st ESG bonds on NSE, raises Rs 500 crore
Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday announced the listing of the country's first environmental, social and governance bonds on the NSE, raising Rs 500 crore through debentures. ADVERTISEMENT In a filing to BSE, the company said it "has listed India's first ESG bonds on the National Stock Exchange (NSE), setting a precedent for a greener and more sustainable financial future in India". The company said it has raised Rs 500 crore through non-convertible debentures (NCD) at a coupon rate of 6.35 per cent. The debentures will mature over a period of three years, with annual interest payments. HSBC served as the sole lead arranger for the transaction. The bonds, issued under Sebi's newly introduced ESG and sustainability-linked bond framework, were launched on June 5. "This deal reinforces our commitment to driving L&T's ESG goals and supporting the larger energy transition objective," R Shankar Raman, president, whole-time director and CFO of the company, said. ADVERTISEMENT As part of the sustainability-linked bond agreement, the company undertakes environmental commitments, targeting measurable reductions in freshwater withdrawal intensity and greenhouse gas emissions. These goals align with the company's broader vision of achieving water neutrality by 2035 and carbon neutrality by 2040. "This successful issuance is a significant milestone in India's financial markets, illustrating growing investor appetite for ESG-compliant financial instruments and setting a benchmark for future sustainable financing ventures," it said. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
28-05-2025
- Business
- Time of India
How L&T aims to create a multi-billion dollar defence business driven by Modi government plans to modernise military
The government has established a target of Rs 30,000-crore in defence exports for this fiscal year. (Image of K9 Vajra) Larsen & Toubro (L&T) plans to expand its defence business into a multi-billion dollar enterprise, significantly higher than Rs 6,185 crore (approximately $726 million at current exchange rates) in orders from the previous financial year, motivated by governmental initiatives to enhance military capabilities. The government has established a target of Rs 30,000-crore in defence exports for this fiscal year, with plans to reach Rs 50,000 crore by FY29. Additionally, the government seeks to achieve domestic defence production worth Rs 1.6 lakh crore in FY26, with projections to reach Rs 3 lakh crore by FY29. The company produces various military equipment including warships, patrol vessels, armoured vehicles, artillery guns and missile systems. In conversation with ET, L&T president and chief financial officer R Shankar Raman indicated the defence sector's substantial growth potential. "It can be as big as you want because it is a question of how much the government is willing," he stated, noting L&T's intention to utilise their shipyard for defence orders and expand facilities when necessary. L&T Defence Plans L&T's marine manufacturing capabilities span across various naval vessels, ranging from coast guard and survey vessels to fast boats, ships, fleets, frigates and submarines, encompassing the entire spectrum of maritime defence assets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The company's CFO highlighted that the government recognises the importance of increased private sector involvement in defence manufacturing to swiftly modernise India's military equipment, particularly considering the limited capacity and substantial backlogs at state-owned defence enterprises. Also Read | 'Make in India' defence boost: Advanced version of BrahMos missile may be manufactured in Uttar Pradesh; India & Russia begin talks He expressed satisfaction with the government's growing acknowledgment of private sector participation in defence, noting that this approach addresses both domestic requirements and international opportunities, especially given the current global defence landscape and evolving supply chain dynamics. The company operates an advanced shipyard equipped to construct large warships, conventional submarines and essential components for these platforms, though it specifically excludes explosives and ammunition from its manufacturing scope. Within L&T's precision engineering and systems division, the defence segment secured orders worth Rs 13,326 crore in the previous fiscal year, showing 29% growth, primarily attributed to additional orders for K9 Vajra-T self-propelled howitzers. The segment achieved revenue of Rs 6,185 crore, marking a 32% increase. Also Read | Pitch for big defence industrial corridor: Chandrababu Naidu wants HAL to make combat aircraft in Andhra Pradesh L&T's involvement extends to the engineering and construction of INS Arihant, India's pioneering indigenous nuclear-powered ballistic missile submarine. In October, they launched their first multipurpose vessel for the Indian Navy at the Kattupalli Shipyard, Chennai. Currently, they are building three cadet training ships alongside six additional vessels for naval operations. The organisation's strategic focus becomes particularly relevant as global defence supply networks experience considerable pressure from geopolitical tensions, notably the Russia-Ukraine conflict. These circumstances have disrupted vital supply routes, particularly in eastern Europe, impacting the procurement of crucial materials and components. "The US' planned tariff imposition is expected to further strain the supply chain. These actions have increased costs for defence contractors and caused delays in production and maintenance," L&T stated in their latest annual report. The organisation has allocated Rs 200-crore for investments in emerging enterprises to strengthen its technological and defence capabilities. "A lot of IIT-sponsored projects are happening. So, we were willing to invest in such ventures. A lot of startups are in the defence application. We are examining them as to which would help us," said Shankar Raman. Raman indicated interest in launching systems, radars and traction devices. The company seeks collaboration opportunities with startups specialising in power distribution, load distribution and load management systems. According to Shankar Raman, L&T aims to secure 20% of the nuclear power sector. The government's Nuclear Energy Mission has designated Rs 20,000 crore for research, development and implementation of at least five Bharat Small Modular Reactors. Also Read | India's defence exports surge to record high of Rs 23,622 crore in FY25; 34-fold increase from 2013-14 Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
