L&T Finance Holdings rights successfully oversubscribed

Mumbai (Maharashtra) [India], February 18 (ANI/NewsVoir): L&T Finance Holdings Limited (“LTFH” or “Company”), one of the leading private sector Non-Banking Financial Companies in India*, present in businesses including rural finance, housing finance, infrastructure finance, and investment management, has closed its Rights Issue to raise Rs 2,998.61 crores (“Rights Issue”). The Rights Issue was oversubscribed by approximately 15 percent.

February 18, 2021

Business

2 min

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Mumbai (Maharashtra) [India], February 18 (ANI/NewsVoir): L&T Finance Holdings Limited (“LTFH” or “Company”), one of the leading private sector Non-Banking Financial Companies in India*, present in businesses including rural finance, housing finance, infrastructure finance, and investment management, has closed its Rights Issue to raise Rs 2,998.61 crores (“Rights Issue”). The Rights Issue was oversubscribed by approximately 15 percent.
On the success of the rights issue, Dinanath Dubhashi, Managing Director & Chief Executive Officer, 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 pursuant to the Rights Issue will happen on or about Tuesday, February 23, 2021, and such equity shares shall be listed on the BSE Limited and National Stock Exchange of India Limited on or about Friday, February 26, 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.
*In terms of total adjusted loans and advances outstanding (source: Industry Report on various asset classes” dated January 2021, issued by CRISIL).
The data on subscription is based on R-WAP data and data provided by the stock exchange and subject to final certificates, reconciliation, and technical rejection, and finalization of the basis of allotment.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

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