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L&T Finance offloads 4.7% stake in Federal Bank via block deal

29 Nov 2012 Evaluate

L&T Finance Holdings, the financial services arm of the engineering conglomerate Larsen & Toubro, has sold its entire 4.67 per cent stake in private sector lender Federal Bank for an amount aggregating to the worth of Rs 363 crore. The shares were sold at an average price of Rs 453.65. Meanwhile, HSBC Global Investment Funds has picked up 14.26 lakh shares of the bank for Rs 453.65 apiece, translating into a deal amounting to the worth of Rs 64.63 crore.

L&T Finance offers a spectrum of financial products and services for trade, industry and agriculture. The company's focus segments are corporate products, construction equipment, CVs and tractors. Despite the turbulence in the financial services markets over the past few years, L&T Finance has adapted well to the changing market dynamics to remain consistently profitable.

L&T Finance Share Price

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