L&T Finance Tuesday said it has raised Rs 3,238.48 crore through non-convertible debentures.

The company raised a total of Rs 3,238.48 crore worth of subscriptions, which is 6.48 times of the base issue size of Rs 500 crore.

The issue was oversubscribed on the first day of tranche 2 issue on April 8, it said in a release.

The wholly owned subsidiary of L&T Finance Holdings said these non-convertible debentures (NCDs) have been rated stable by Icra, CARE and India Ratings.

The first tranche of the NCD was oversubscribed on day one March 6, 2019 when the company had raised Rs 2,228.06 crore, around 4.45 times of the base issue (Rs 500 crore).

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