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L&T fin raises Rs. 2,998 cr via rights issue

L&T Finance Holdings Limited (LTFH) has closed its rights issue to raise Rs 2,998.61 crores. The rights issue was oversubscribed by approximately 15 per cent.

L&T fin raises Rs. 2,998 cr via rights issue
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L&T fin raises Rs. 2,998 cr via rights issue

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Mumbai: L&T Finance Holdings Limited (LTFH) has closed its rights issue to raise Rs 2,998.61 crores. The rights issue was oversubscribed by approximately 15 per cent.

On the success of the rights issue, Dinanath Dubhashi, MD & CEO, L&T Finance Holdings said, "We are delighted that our rights issue was oversubscribed and we are thankful to our investors for their support. The response reflects the faith in the resilience of our business model which along with our AAA credit rating, and the strong backing of our parent, gives us the confidence of continuing on our path of creating a stable and sustainable organisation, for all our stakeholders."

The allotment of equity shares offered pursuant to the rights issue will happen on or about Tuesday, February23, 2021 and such equity shares shall be listed on the BSE and National Stock Exchange of India on or about Friday, February26, 2021.

Axis Capital Limited, BOB Capital Markets Limited, Citigroup Global Markets India Private Limited, Credit Suisse Securities (India) Private Limited, HSBC Securities and Capital Markets (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.

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