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L&T Finance Holdings zooms on getting nod to raise funds up to Rs 100 crore

  • Sep-11-2019
  • 15 Hrs IST

L&T Finance Holdings is currently trading at Rs. 96.60, up by 3.70 points or 3.98% from its previous closing of Rs. 92.90 on the BSE.

The scrip opened at Rs. 93.25 and has touched a high and low of Rs. 97.90 and Rs. 92.65 respectively. So far 1168961 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 168.00 on 10-Sep-2018 and a 52 week low of Rs. 88.60 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 97.90 and Rs. 89.55 respectively. The current market cap of the company is Rs. 19294.63 crore.

The promoters holding in the company stood at 63.89%, while Institutions and Non-Institutions held 13.52% and 22.59% respectively.

L&T Finance Holdings has received an approval for the offer and issuance of up to 100,00,000 Cumulative Compulsorily Redeemable Non-Convertible Preference Shares (CRPS) of face value of Rs 100 at par aggregating to a nominal amount of up to Rs 100,00,00,000 on a private placement basis at the dividend rate of 7.95% p.a. payable annually.

The Committee of Directors of the company at their meeting held on September 11, 2019, approved the same.

L&T Finance Holdings is a financial holding company 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.