L&T Finance Limited, promoted by engineering and construction giant Larsen & Toubro Limited and L&T Capital Holdings Limited, has decided to raise funds up to Rs 1,000 crore by issuing non-convertible debentures to general public.

The issue will open on August 18, 2009, and close on September 4, 2009.

The raised amount will be used by the Company for its various financing activities including lending and investments and for its business operations, including capital expenditure and working capital requirements.

The NCD Issue with various investment options will yield interest upto 10.50% (per annum) on Redemption.

The NCDs have been rated 'CARE AA+' by CARE and 'LAA+' by ICRA. The issue is proposed to be listed on National Stock Exchange of India Limited ("NSE").

The Lead Managers to the Issue are SBI Capital Markets Limited, JM Financial Consultants Private Limited and Standard Chartered Bank.