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L&T Finance Holdings Ltd has raised almost Rs 2,000 crore from preferential allotment of shares to its promoter Larsen & Toubro (L&T). L&T Finance Holdings said the capital infused by the promoter will help fund the growth of its focused lending businesses -- rural finance, housing finance and wholesale finance, and further strengthen the capital adequacy of the company.
“The company has today completed the preferential allotment to Larsen & Toubro Ltd of 10.78 crore equity shares of Rs 10 each at the issue price of Rs 185.51 per share,” L&T Finance Holdings (LTFH) said in a BSE filing. “Through this issue, the promoter has infused additional capital amounting to Rs 1999.99 crore demonstrating their belief and commitment to the LTFH growth story,” it added.
Shares of L&T Finance Holdings were trading 0.70 per cent down at Rs 156.60 on the BSE.
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