L&T Raises ₹5 Billion Via ESG Bonds, Aligns With SEBI's New Framework

Larsen & Toubro Ltd. on Friday said it has raised ₹5 billion through an environmental, social and governance (ESG) bond issue, becoming one of the early movers following SEBI’s new framework for ESG debt securities released a day earlier. The new rules, however, do not apply to green bonds, SEBI clarified.

L&T said the proceeds will support the company’s ESG-linked commitments, including cutting down fresh water withdrawal intensity and greenhouse gas emissions. HSBC India acted as the sole lead arranger for the transaction, the company noted in a filing.