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L&T Finance Holdings closes lower by about 4% on its debut

12 Aug 2011 Evaluate

L&T Finance Holdings made a dismal debut and snapped the session at Rs 49.95, a discount of 3.94% or lower by 2.05 points as against its issue price of Rs 52, on BSE.

The shares of the company opened at Rs 51.00 and touched a high and a low of Rs 52.50 and Rs 49.50, respectively. A total of 4,43,47,679 shares were traded on the counter.

L&T Finance Holdings a subsidiary of engineering and construction company, Larsen and Toubro has fixed issue price of its IPO at Rs 52 a share while the price band was 51-59 a share. The issue, which opened between July 27-29, was subscribed more than 5 times. Company intends to use issue proceeds for augmenting the capital base of L&T Finance and L&T Infra to meet the capital requirements arising out of expected growth in their assets, primarily the loan portfolio.

The company offers 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 direct and indirect wholly-owned subsidiaries.

L&T Finance Share Price

287.35 7.05 (2.52%)
17-Apr-2026 16:59 View Price Chart
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