L&T Finance Holdings Limited, one of India’s leading private sector Non-Banking Financial Company (NBFC), present in businesses such as rural finance, infrastructure finance, housing finance, and investment management, through its wholly owned subsidiaries announces the opening of Rs 2,998.61 crore Issue, on February 1, 2021.
The regulatory filing by the company showed that the Company will issue up to 46,13,25,021 Equity Shares for cash, at a price of Rs. 65 per Equity not exceeding Rs. 2,998.61 crore on a rights basis to eligible equity shareholders in the ratio of 17 Equity Share for every 74 Equity Share held on the record date, that is January 22, 2021.
The funds raised through the Issue will be utilised to repay certain commercial papers issued by the Company, infusion of funds in the Company's subsidiary, for repayment of certain commercial papers issued by such subsidiary, the redemption of preference shares issued by the Company and for general corporate purposes, the company said.
Axis Capital Limited, Citigroup Global Markets India Private Limited, BOB Capital Markets Limited, HSBC Securities and Capital Markets (India) Private Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited and UBS Securities India Private Limited are acting as the lead managers to the Issue.
Shares of L&T Finance Holdings Limited on Friday closed at Rs.85.75 per share on National Stock Exchange.
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