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L&T Finance Holdings Ltd (LTFH) on Wednesday said, “It has raised Rs 2,998 crore through a right issue.”
In a filing with the exchange, L&T Finance said, “It has closed its Rights Issue to raise Rs. 2,998.61 crores (“Rights Issue”). The Rights Issue was oversubscribed by approximately 15 percent.”
Speaking on the development, Dinanath Dubhashi, Managing Director & CEO of 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 parents, gives us the confidence of continuing on our path of creating a stable and sustainable organization, for all our stakeholders.”
“The allotment of equity shares offered under the Rights Issue will happen on or about Tuesday, February 23, 2021, and such equity shares shall be listed on the BSE Limited, and NSE on or About Friday, February 26, 2021,” The filing said.
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.