L&T Finance Holdings’ fixes IPO price band at Rs 51-59 per share

22 Jul 2011 Evaluate

L&T Finance Holdings' Rs 1,245 crore initial public offering (IPO) will open on July 26 and will close on July 29, 2011. The company has fixed a price band of Rs 51-59 per share.

The IPO proceeds will be used to augment the capital base of L&T Finance and L&T Infra to meet the capital requirements arising out of expected growth in their assets, primarily the loan portfolio, and for other general corporate purposes. JM Financial, Citigroup and HSBC are among the book running lead manager to the issue.

The Larsen & Toubro’s (L&T) financial services unit - L&T Finance Holdings’ has raised Rs 330 crore ($75 million) through a share placement to US private equity fund Capital International, ahead of its initial public offer (IPO), the company has sold over 6 crore shares at Rs 55 each.

L&T Finance Holding, a leading non-banking finance firm offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries.

L&T Finance Share Price

137.40 1.20 (0.88%)
23-Dec-2024 13:53 View Price Chart
Peers
Company Name CMP
Bajaj Finance 6878.20
Shriram Finance 2885.35
Aditya Birla Capital 187.55
SBI Cards AndPayment 693.65
Mah & Mah Finl. Serv 266.30
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