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L&T Finance Holdings jumps on arm acquiring Fidelity’s Indian MF business

28 Mar 2012 Evaluate

L&T Finance Holdings is currently trading at Rs. 51.50, up by 1.70 points or 3.41% from its previous closing of Rs. 49.80 on the BSE.

The scrip opened at Rs. 51.10 and has touched a high and low of Rs. 52.50 and Rs. 50.85 respectively. So far 2,67,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 54.40 on 17-Feb-2012 and a 52 week low of Rs. 40.10 on 15-Dec-2011.

Last one week high and low of the scrip stood at Rs. 52.50 and Rs. 47.20 respectively. The current market cap of the company is Rs. 8,831.00 crore.

The promoters holding in the company stood at 82.64% while Institutions and Non-Institutions held 5.16% and 12.20% respectively.

L&T Finance Holdings’ (LTFH) subsidiary - L&T Finance (LTF), has executed definitive agreements to acquire FIL Fund Management (Fidelity AMC) and FIL Trustee Company, the companies carrying on the mutual fund business of Fidelity in India, subject to regulatory approvals. Lazard was the financial advisor to L&T Finance in the transaction.

L&T Financial Services has established its presence in the Mutual Fund industry through the acquisition of the mutual fund business of DBS Chola in January 2010.

Fidelity AMC, incorporated in 2004, manages the 15th largest mutual fund in India with a market share of 1.3% and an average AUM for the quarter ended December 2011 of Rs 8,881 crore.

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.

Incorporated as an NBFC in 1994, L&T Finance is registered with the RBI as an NBFC-ND-SI, and is classified as an Asset Finance Company (AFC). L&T Finance offers a spectrum of financial products and services for trade, industry and agriculture.

L&T Finance Share Price

290.05 2.70 (0.94%)
20-Apr-2026 15:18 View Price Chart
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