Life Insurance Corporation of India (LIC). File | Photo Credit: Reuters The Life Insurance Corporation of India (LIC) has subscribed to ₹5,000 crore nonconvertible debentures (NCDs) of Bajaj Finance.Also read | Mcap of four of top-10 most valued firms erodes ₹87,960 crore; Airtel takes biggest hitIt has subscribed to five lakh NCDs, of face value of ₹1 lakh each, of the deposit-taking non-banking financial company, totalling ₹5,000 crore, the State-owned insurer said in a filing.Separately, Bajaj Finance in a filing said allotment of the NCDs aggregating to ₹5,000 crore on a private placement basis follows its debenture allotment committee’s approval. The instruments carry a coupon rate of 8.15% per annum and a tenure of 3,653 days (ten years). The first coupon payment will be on Aug 27, 2027 and annually thereafter. The maturity date of the NCDs is August 27, 2036.LIC said the funds raised through this issue will be utilised for the general business purposes of the company, including various financing activities, to repay the company’s existing loans, capital expenditure and working capital requirements. Published - August 27, 2026 09:57 pm IST
LIC subscribes to Bajaj Finance’s ₹5,000 crore NCDs
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